Still, Nissan forecast having the technology available on new models by the mid-2020s with every new model offering the technology in 2030. Of course, investors have to be cautioned on the order book details in the Lidar space due to different reporting requirements and years included in the amount. Luminar entered the year with an order book of $2.1 billion, yet the company maintained 40% targeted growth for the year after competitor Innoviz Technologies ( INVZ ) added $4 billion to the backlog on an unnamed deal with an auto OEM.
#Should i buy luminar stock series
The other big disappointment was the limited discussion on increased order book amounts despite a big series production deal with Nissan. Like a lot of the Lidar sensor developers, the company hasn't delivered any breakout revenue totals or generally met analyst targets. Luminar reported Q1'22 revenues of just $6.9 million missing analyst targets by a wide $1.5 million. My investment thesis remains Neutral on Luminar due in part to an irrational stock buyback at higher levels and a general premium valuation for the stock. The stock actually still trades above $10 unlike most SPAC deals and especially ones in the Lidar space.
As with most SPAC deals, Luminar Technologies ( NASDAQ: LAZR) has struggled to live up to the original hype.
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