Luminar reports Q3 ’25 financials

Date Announced: 14 Nov 2025

• Luminar appoints new CFO; Forbearance agreements in place while company evaluates capital structure and liquidity solutions.
• Q3 revenue up ~20% YoY and QoQ; Off-road, defense, and photonics opportunities continue to advance.

ORLANDO, Fla. -- Luminar (NASDAQ: LAZR), a leading global automotive technology company, provided its quarterly business update and financial results for the third quarter of 2025. These results and related commentary were published in a Presentation available on its Investor Relations website at https://investors.luminartech.com.

“This quarter has required us to confront difficult realities in the automotive lidar market and take deliberate steps to strengthen our capital structure and liquidity position,” said Paul Ricci, CEO of Luminar. “At the same time, we are seeing growing momentum in commercial and defense applications across both Luminar and LSI, which reinforces our belief that the strategic direction we outlined last quarter better positions Luminar for the years ahead.”

Key Q3 2025 Financials

• Revenue: Q3 revenue was $18.7 million, up 21% compared to Q3’24, and 20% compared to Q2’25.
• Gross profit (loss): Q3 gross profit (loss) was $(8.1) million on a GAAP basis and $(7.3) million on a non-GAAP basis.
• Net income (loss): Q3 GAAP net income (loss) attributable to common stockholders was $(89.5) million, or $(1.29) per share; Q3 non-GAAP net loss was $(65.4) million, or $(0.94) per share.
• Operating expenses: Q3 OpEx was $66.6 million on a GAAP basis and $43.0 million on a non-GAAP basis.
• Cash & marketable securities: ended Q3 ’25 with $74.0 million in cash & marketable securities.

Financial Outlook

As previously disclosed, Luminar has suspended its guidance for the fiscal year ending December 31, 2025.

Appointment of New CFO

On November 7, 2025, Luminar appointed Thomas Beaudoin as Chief Financial Officer, effective November 13, 2025. Beaudoin brings more than four decades of finance and operational leadership across public and private technology companies, and particularly in the automotive space. He previously served as CFO of Cerence Inc. from May 2022 to March 2024, following senior transformation and operational roles at Qualifacts Systems Inc., Credible Inc., and Nuance.

Earlier in his career, Beaudoin held multiple executive finance positions, including CFO of SimpliVity Corp. (now HPE SimpliVity), Executive Vice President and CFO of Nuance, President and CFO of Polaroid Corporation, and Senior Vice President and CFO of Parametric Technology Corporation, after spending 24 years in senior finance roles at Digital Equipment Corporation and Compaq Computer Corporation (now Hewlett Packard). He holds both a B.S.B.A. and an M.B.A. from Babson College.

Strategic Review

As previously announced, Luminar is exploring a number of potential strategic alternatives, including the sale of all or part of Luminar’s business or assets, raising additional capital or restructuring its existing capital structure. Luminar has engaged Weil, Gotshal & Manges LLP, as legal advisers, Jefferies LLC, as investment banking advisers, and Portage Point Partners, LLC, as financial advisors, to assist Luminar in analyzing and evaluating potential strategic alternatives and initiatives to improve liquidity. Luminar has received and is evaluating nonbinding, preliminary proposals and indications of interest to purchase the entire company as well as certain of its assets and business lines.

Capital Structure

Luminar has signed forbearance and non-disclosure agreements with the vast majority of its secured noteholders through November 24, 2025, with further extensions anticipated as the company continues to negotiate with them. This provides time and stability as Luminar works toward a longer-term solution to its capital structure and liquidity needs.

Appointment of New Directors

Luminar is pleased to announce the appointment of Patricia Ferrari and Elizabeth Abrams to its Board of Directors, effective November 13, 2025. Together, Ms. Ferrari and Ms. Abrams bring extensive experience in banking, finance, restructuring, advisory, and leadership that will be invaluable as the company continues to explore strategic alternatives.

Contact

E-mail: info@luminartech.com

Web Site: www.luminartech.com