Luminar reiterates fiscal 2024 financial guidance

The company continues to expect to achieve a quarterly run rate of revenue in the mid-$30M range reflecting the production ramp with Volvo in the second half of 2024. The company expects strong growth in sensor sales and revenue in the second half of 2024 as it ramps production. “As we continue to gain more visibility around the pace of the Volvo production ramp and the timing of sensor production cost reductions and launch-related cost roll-off, we plan to provide more detail around our financial guidance, likely in 2H’24,” it said.