Luminar Results Presentation Deck
Q2'23 financial results & 2H'23 commentary
Q2'23 revenue: $16.2M
• Q2 revenue up 63% YoY; slightly above mid-point
of guidance range
Q2'23 GAAP gross loss: $(18.3)M;
Non-GAAP: $(16.2)M
Q2'23 free cash flow (FCF)³: $(78.5)M
• Includes $24M of high-volume launch related?
costs; expected to significantly decrease by Q4
as we near SOP readiness at the MX facility
▪ Q2 FCF further negatively impacted by ~$13M due
to working capital investment relative to Q1
Cash4 & liquidity position: $365.8M
• Excludes additional $10M TPK investment from
option exercise
Please refer to slide 16 in Appendix for Footnotes 3, 4, 5 and 7.
Q3'23 guidance
• Revenue: $18M to $21M; Non-GAAP EPS5: $(0.18) to
$(0.22)
Q4'23 Non-GAAP gross margin target
• On track to non-GAAP gross margin positive in Q4
•
Driven primarily by reduction in high-volume launch
related' COGS
Q4'23 free cash flow spend target
• On track to ~50% improvement of Q4 free cash flow
spend compared to Q1/Q2 (non-GAAP)
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Driven primarily by reduction in cash spend from
launch-related expenses, capex & working capital
Strong cash position & runway to profitability
Q4'23 target exit rate FCF & YE'23 cash/liquidity target of
~$300M implies sufficient runway to reach profitability
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