Luminar Technologies (LAZR) investor relations material

Executive summary

• Q3 2025 revenue reached $18.7 million, up 21% year-over-year and 20% sequentially, driven by increased sensor shipments, LSI growth, and defense-related sales.

• Net loss for Q3 2025 was $85.8 million GAAP ($1.29/share), with non-GAAP net loss at $65.4 million ($0.94/share); nine-month net loss was $189.4 million.

• Significant cost reductions achieved, with operating expenses down 35% for the quarter and over 50% since early 2024, mainly from restructuring and workforce reductions.

• Strategic review underway, including potential sale of business/assets, capital raise, or restructuring, with forbearance agreements in place with most secured noteholders through November 24, 2025.

• New CFO Thomas Beaudoin appointed, and two new directors with restructuring expertise joined the board.

Financial highlights

• Q3 2025 revenue was $18.7 million, with gross loss of $8.1 million GAAP and $7.3 million non-GAAP.

• Operating expenses for Q3 2025 were $66.6 million GAAP and $43.0 million non-GAAP, down significantly year-over-year.

• Ended Q3 2025 with $74 million in cash and marketable securities.

• Free cash flow for Q3 2025 was -$48.5 million, improved from prior quarters.

• Net cash used in operations for the nine months ended September 30, 2025, was $145.9 million.

Outlook and guidance

• 2025 financial guidance remains suspended due to ongoing capital structure negotiations and liquidity constraints.

• Management is actively pursuing capital restructuring, asset sales, and other strategic alternatives.

• If additional capital is not raised or a strategic transaction is not completed, the company may need to curtail or cease operations and/or seek bankruptcy protection.