LiDAR finally graduated from science project to real business

AA: Alcoa Corporation - The largest U.S. aluminum producer positioned to benefit directly from tariff protection and domestic pricing premiums. Alcoa is executing a multi-faceted strategic transformation, optimizing its global portfolio through acquisitions (Alumina Limited) and joint ventures (San Ciprián) to enhance its position as a leading pure-play upstream aluminum company. The company delivered strong financial performance in Q1 2025 with Net Income reaching $548 million, driven by higher aluminum prices and favorable currency impacts, positioning it to capitalize on the emerging supply deficit and record-high Midwest premiums created by the tariff environment. Read More →

CENX: Century Aluminum Company - Pure-play U.S. aluminum smelter that benefits disproportionately from tariff protection and Midwest premium expansion. Century is capitalizing on the transformative U.S. policy environment, including Section 232 tariffs and Section 45X tax credits, to drive significant growth in domestic aluminum production. The company's strategic vertical integration through its Jamalco alumina joint venture strengthens its supply chain as the market transitions to deficit, while its Mt. Holly restart (adding 50,000 metric tonnes of capacity by Q2 2026) and development of a new $500 million DOE-funded U.S. smelter position it perfectly to benefit from the supply-constrained environment. Read More →

KALU: Kaiser Aluminum Corporation - Specialty aluminum producer focused on high-value applications that benefits from both raw aluminum price increases and strong demand in aerospace and industrial markets. Kaiser is positioned for a significant performance uplift in 2025, driven by the nearing completion of major strategic capital investments at its Warrick and Trentwood facilities. The company's focus on technically demanding niche markets across Aerospace, Packaging, and General Engineering, coupled with its predominantly North American footprint, provides resilience against market volatility while allowing it to capture premium pricing in a supply-constrained environment, as evidenced by its Q1 Adjusted EBITDA of $73 million. Read More →

HD: The Home Depot - Dominant home improvement retailer strategically positioned to capitalize on the housing recovery driven by Fed rate cuts. Home Depot is leveraging its scale, interconnected retail capabilities, and expanding Pro ecosystem to drive market share gains as lower mortgage rates enable homeowners to invest in property improvements. The company's recent acquisition of SRS Distribution significantly accelerates its Pro strategy, adding specialty trade distribution expertise that will be crucial as rate cuts stimulate both DIY renovation spending and professional contractor activity. Home Depot's investments in technology, including advanced AI tools like Magic Apron, are strengthening customer experience and operational efficiency, creating a competitive advantage as the rate-driven construction recovery takes hold. Read More →

SHW: Sherwin-Williams Company - Leading paint and coatings manufacturer with a differentiated "Success by Design" strategy that positions it to capture outsized benefits from the rate-cut driven construction recovery. The company's extensive controlled distribution network of over 4,800 stores and proprietary technology drive above-market growth and profitability, particularly in the professional architectural segment that expands during construction booms. Sherwin-Williams' strategic initiatives, including targeted acquisitions and ongoing investments in new stores and manufacturing capacity, are designed to expand market reach and enhance operational efficiency just as Fed rate cuts stimulate both new construction and renovation activity, with management anticipating second-half earnings acceleration as the housing market responds to lower rates. Read More →

VMC: Vulcan Materials Company - The largest U.S. aggregates producer strategically positioned to benefit from both residential construction and infrastructure spending accelerated by lower financing costs. Vulcan has enhanced its core business through operational and commercial discipline while expanding its reach via strategic acquisitions in high-growth markets. Despite mixed demand signals in private construction, the company is experiencing robust public infrastructure spending and accelerating data center activity, providing crucial offsets while positioning for the residential construction recovery that typically follows rate cuts. Vulcan's pricing power (demonstrated by +7% freight-adjusted price increases) and improving operational efficiencies will allow it to capture premium margins as construction activity increases in response to lower borrowing costs. Read More →

AEVA: Aeva Technologies - Leveraging its proprietary Frequency Modulated Continuous Wave (FMCW) 4D LiDAR-on-chip technology to penetrate multiple high-growth markets beyond traditional automotive applications. Aeva's record Q2 revenues and substantial $400 million backlog provide clear visibility into future growth, with major programs ramping around 2026. The company has secured significant production and development wins with industry leaders like Daimler Truck and a global top 10 passenger OEM, validating its unique sensing capabilities that overcome traditional Time-of-Flight LiDAR limitations. Aeva's projected revenue growth of 70% to 100% year-over-year in 2025 demonstrates the commercial deployment momentum that's central to the LiDAR breakthrough thesis, while its diversification across automotive, industrial automation, and intelligent transportation systems creates multiple revenue streams. Read More →

LAZR: Luminar Technologies - Established credibility as the first LiDAR company to successfully transition from development to standard automotive equipment through its Volvo production integration. Luminar's proprietary 1550-nanometer LiDAR offers substantial performance advantages, capable of detecting small objects at over 175 meters and achieving ranges beyond 250 meters—critical capabilities for high-speed Level 3+ autonomy that conventional 905nm solutions cannot match. The company's partnerships with Nissan and Mercedes-Benz validate its technology for mass-market applications, while its unified "Halo" platform consolidates its product portfolio for mass adoption with improved performance, reduced size, and significantly lower cost. This positions Luminar at the forefront of the commercial deployment breakthrough that's transforming LiDAR from experimental technology to standard automotive equipment. Read More →

OUST: Ouster Inc. - Rapidly transforming into a "Physical AI" powerhouse by leveraging its differentiated digital lidar sensors and intelligent software solutions to enable real-world autonomy across diverse industries. Ouster has delivered 10 consecutive quarters of meeting or exceeding revenue guidance, achieving $35.05 million in Q2 2025 revenue (up 30% YoY) with a strong 45% GAAP gross margin. The company's proprietary digital lidar technology, including the advanced REV7 series and upcoming L4/Chronos chips, offers superior performance and cost advantages that are projected to more than double its addressable market. Ouster's strategic diversification across industrial, automotive, robotics, and smart infrastructure verticals, with software-attached bookings growing over 60% in 2024, demonstrates the commercial deployment validation that's central to the LiDAR breakthrough thesis. Read More →