Luminar reports Q3 adjusted EPS (21c), consensus (22c)

Reports Q3 revenue $17M, consensus $19.55M. “For the first time at Luminar, we are realizing an inflection point in economies of scale and path to profitability,” said Austin Russell, Founder & CEO. “We successfully passed the Run at Rate production capacity and quality audit leading up to our first global vehicle launch with Volvo Cars. In conjunction, we are aggressively driving efficiency gains on free cash flow and gross margin, which we expect to continue through Q4 and beyond.”