![]() Luminar has successfully completed engineering validation testing from the Iris B samples and is now moving into the final stages of B sample production before launching C samples later this year. Image source: Luminar business update presentation slide. The company ended the year with $486M in cash on hand, which Luminar says is sufficient to cover costs for its Iris launch and program wins. Luminar met its upwardly revised year-end forward-looking order book projection target of $1.3B, which only included production programs and not commitments or value associated with other customer engagements. The latter might have a limited lifecycle as Intel works on an in-house sensor system, but it's unlikely that Mobileye would ink the deal if an in-house solution was close to happening. The company also added Daimler Truck as a partner on the trucking/logistics vertical and partnered with Intel's Mobileye on the robo-taxi vertical. Luminar signed the series production deal with Volvo last year. Iris contains next-generation custom laser, receiver, scanning, and chips for a sensing platform meant for automotive series production. Last year, Luminar entered the B Sample phase for its Iris technology, shipping the first units to lead series production partner Volvo Cars. LAZR shares are up 190% since the December debut. ![]() ![]() Luminar shares ended up closing out the week up nearly 12%. Last week, Luminar provided a business update that included preliminary 2020 results, a 2021 forecast, and a business update presentation that included milestones for success for this year. Luminar Technologies (NASDAQ: LAZR) went public last December through a SPAC merger with Gores Metropoulos and walked away with about $590M in gross proceeds and what remains as the highest valuation among the top lidar companies. ![]()
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