The company said it would demonstrate the 3D mapping technology at CES. Luminar highlighted its acquisition of Civil Maps, a leader in lidar mapping for automotive.
“We expect our revenue to continue to grow exponentially both in 2023 and throughout the decade,” a Luminar spokesperson told Benzinga. Luminar will report its fiscal year 2022 revenue and provide guidance for fiscal 2023 at Luminar Day on Feb. “The commercial success exceeded Luminar’s goal of 60 percent year-over-year growth in total program wins and exceeded its target of 60 percent year-over-year forward-looking orderbook growth,” the company said. The company said it saw multiple wins in the fourth quarter from automotive OEMs with more cars adding Luminar technology in 2025.
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“Our big bet on production consumer vehicles and enhancing, nor replacing, the driver is starting to pay off big time.” “2022 marked an inflection point for Luminar, as the first of its kind to move from R&D to production vehicles,” Russell said. Why It’s Important: Luminar shared company updates and new commercial wins at CES 2023. Related Link: Why This Short Seller Is Doubling Down Against Cryptocurrency, Says 'US Government Should Be Embarrassed' About FTX Debacle The very next day, on July 2nd, he closed on an $83 million Los Angeles estate.” “He wants investors to be patient for the ‘back half of the decade’ yet according to the LA Times, Russell’s $220 million stock sale closed on July 1, 2021.
Left also highlighted the wealth of Russell, one of the youngest billionaires in 2022 according to Forbes. Velodyne Lidar VLDR has a market capitalization of $181 million. Innoviz has a market capitalization of $539 million. Luminar’s market capitalization is $1.6 billion at the time of writing.
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