Luminar Technologies (NASDAQ:LAZR) shares have climbed around 8% after the automotive technology company reported its Q4 and full-year 2021 results Monday (Feb 28).
Q4 revenue of $12.3M (+408% Y/Y) beat estimates by $0.6M. Full-year revenue of $31.94M ($13.95M in 2020) was at the higher end of the company's prior guidance of ~$32M.
Adjusted net loss for the quarter was -$42.6M, or -$0.12 per share, compared with -$26.67M, or -$0.14 per share in the prior year quarter.
Luminar Founder and CEO Austin Russell commented, "Our first year as a public company was a blowout success having achieved all of our critical milestones. We secured major commercial wins, advanced our hardware and software technology, and are pioneering the future of safety and autonomy for the industry. 2022 will be our biggest year yet as we prepare for our breakthrough series production launch at year-end."
The company ended the year with forward-looking order book of ~$2.1B, up 61% Y/Y, and with $792.1M of cash (vs. $485.7M as of Dec. 31, 2020).
2022 Outlook: Luminar expects 2022 revenue of over $40M in-line with consensus of $40.48M.