Luminar Technologies released its second-quarter 2025 financial results on August 12, 2025, reporting total revenue of $15.63 million, a 5% year-over-year decline, which missed consensus estimates. The Autonomy Solutions segment contributed $24.06 million, an 8.51% year-over-year decline, while the Advanced Technologies and Services segment contributed $10.46 million, a 5.94% year-over-year decrease.
The company reported a GAAP gross loss of $12.43 million for Q2 2025, impacted by a $3 million noncash warranty adjustment and $1 million in tariff-related charges. Operating cash flow for the six months ended June 30, 2025, was -$98.0 million, with free cash flow at -$53.84 million for Q2 2025, reflecting continued cash usage.
Luminar revised its full-year 2025 revenue guidance downwards to a range of $67 million to $74 million, a significant reduction from the previous $82 million to $90 million outlook. This revision is primarily due to the wind-down of non-core data contracts and a reduction of approximately 10,000 units in its sensor shipment outlook, now projected at 20,000 to 23,000 sensors.
The company is sharpening its focus on near-term revenue and profit opportunities in commercial markets like trucking, security, and defense, and is exiting non-core data and insurance businesses. Luminar has implemented a cumulative 30% workforce reduction since early 2024 and aims to reduce non-GAAP operating expenses to the low $30 million range by Q4 2025. Despite these efforts, the company acknowledges it may require up to $100 million in additional capital to reach profitability.
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