Luminar Technologies, Inc. (NASDAQ:LAZR) Q4 2023 Earnings Call Transcript February 27, 2024

Luminar Technologies, Inc. misses on earnings expectations. Reported EPS is $-0.2 EPS, expectations were $-0.19. Luminar Technologies, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Aileen Smith: Welcome, everyone, to Luminar's Fourth Quarter and Full-Year 2023 Business Update Call. My name is Aileen Smith and I am Luminar's Head of Investor Relations. With me today are Austin Russell, Founder and Chief Executive Officer; and Tom Fenimore, Chief Financial Officer. As a reminder, this call is being recorded and you can find the shareholder letter that accompanies this call at investors.luminartech.com. Hopefully, most folks have had a chance to review our shareholder letter as we are continuing with our new earnings format this quarter. As with last quarter, we will spend the majority of the call addressing questions from our stakeholders, including the retail investor questions, posted on the SAFE platform, institutional investor questions emailed to our investors inbox, and live questions from our analyst community.

We will be checking these platforms intermittently throughout the duration of the call to address any questions that come in real-time. Austin wanted to begin our call with some welcome remarks, including a look back on '23 and a look ahead into 2024. Before I pass the call over to him, I wanted to remind everyone that during the call we may refer to GAAP and non-GAAP financial measures. Today's discussion also contains forward-looking statements based on the environment as we currently see it, and as such does include risks and uncertainties. Please refer to our shareholder letter for more information on the specific risk factors that could cause actual results to differ materially. With that, I'd like to introduce Luminar's Founder and CEO, Austin Russell.

Austin Russell: All right, well, thanks Aileen, and great to see all you guys here. So maybe just a quick opener before we jump into Q&A. If you've had a chance to be able to take a look at that letter kind of informational packet. The team and I have been really quietly heads down, focused on execution and the core execution for our business with all eyes on the industry's first production vehicle launch, with Luminar and Volvo as standard on the new EX90. And it's funny, as I think this is going to be one of the, maybe even the last earnings calls that where we're a pre-production R&D company before we truly enter our growth stage. And I'd say it's become abundantly clear that we've all seen all the challenges that the automotive industry has faced historically in being able to develop, industrialize, and enable this whole next generation capabilities on vehicles and bring it out into the commercial world and into consumers' hands and really all this has been laid bare to the public in recent history, in the media and whatnot.