![]() The deal, which follows a multi-year collaboration between the two companies, not only improves the quality of Luminar’s lidar, but it also allows Luminar to control more of the costs in the supply chain. In order to get the point density and resolution needed to allow the AV system to determine whether it sees a tire or a person 300 meters ahead on the road, a high-powered laser pulse and high-quality beams are critical, two components that Freedom Photonics excel at, according to Eichenholz. Whether on city streets or highways, a major problem autonomous vehicle systems face is the ability to see and recognize objects at far distances. “The deal is signed and expected to close in the second quarter, and it really brings Freedom Photonics’s high-powered laser and their related photonic integrated circuit technologies to optimize the performance, as well as advance our cost roadmap, of our future sensors,” Jason Eichenholz, Luminar’s co-founder and chief technology officer, told TechCrunch. The buy is Luminar’s latest to vertically integrate core lidar components to bring more accurate, lower-cost products to market. The all-stock transaction involves Luminar transferring 3 million shares of its common stock, or about $42.3 million at today’s share price, to Freedom Photonics’s employees per a regulatory filing. JP Morgan believes that the shares will jump to $20.Luminar, a company that builds vision-based lidar and machine perception technologies for autonomous vehicles, is acquiring high-performance laser manufacturer Freedom Photonics on Monday. Goldman Sachs and Citigroup lowered their target to $4 and $19, respectively, as we wrote here. Those at Jefferies recently lowered their target from $12 to $10. The other challenge is the lack of profitability in the industry in the near term.Īnalysts have a mixed outlook of the LAZR stock price. Fortunately, Luminar has a bigger market share than other companies. First, it is facing substantial competition from the likes of Velodyne Lidar, Aptiv, Aeye, and Cepton among others. It expects to end the year with $300 million in cash. The company also has strong financial results, with over $400 million in liquidity. It also hopes to have revenues of between $15 million and $17 million in the second quarter. It expects that its revenue will grow by 100% this year. Luminar also affirmed its forward guidance in its results. Its gross loss, however, jumped to $14.6 million. The most recent results showed that Luminar’s revenue jumped by more than 1112% in the quarter to $14.5 million. Luminar Technologies business is doing well as its revenue surges. Other leading companies that are using Luminar’s technologies are Volvo, SAIC, Nissan, and Daimler, which account for more than 50% of its total business. Luminar is also building its software, which provides core sensor software, perception software, and sentinel. It provides Iris, a platform it sells to automotive companies like Polestar and Mercedes Benz. The technology’s goal is to promote vehicle safety as most of them embrace autonomous technologies. Luminar Technologies is a company building light detection and ranging sensor, also known a lidar. It remains ~88% below its all-time high, giving it a market cap of over $2.1 billion. The shares plunged to a low of $5.51, ~47% below the highest level this year. Luminar ( NASDAQ: LAZR) stock price is hovering near the lowest level since January as concerns about the company’s profitability continues. ![]()
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