Luminar Technologies’ Revenue by Segment (2016-2023)

This statistic highlights Luminar Technologies’ Revenue by Segment, split between Autonomy Solutions and Component Sales, reported on a quarterly basis, from Q1 2016 onwards.

Luminar Technologies’ Revenue by Segment

In Q3 2021, the total revenue earned by the company stood at $7.98 million. On a quarterly basis, the revenue increased from $6.31 million in Q2 2021 to $7.98 million in Q3 2021, making an increment of 26.49% from the previous quarter. When compared on a year-on-year basis, the revenue witnessed a massive growth of 88.96% from the same quarter of the previous year, from $4.22 million in Q3 2020 to $7.98 million in Q3 2021. The company’s revenue-producing activities can be categorized into two separate and distinct segments: Autonomy Solutions and Components Sales. The Autonomy Solutions segments is the major contributor of revenue, accounting for 94.64% of the total revenue generated by the company in Q3 2021. The Component Sales segment contributes 5.36% to the total revenue in Q3 2021.

Luminar technologies’ revenue can be further bifurcated into the following segments:

(All figures are in millions, except percentages)

Autonomy Solutions

The company’s Autonomy Solutions segment is engaged in designing, manufacturing, and sale of lidar sensors along with related autonomy enabling software solutions catering to the actual producers of automobiles, robo-taxis, commercial vehicles, and many other adjacent industries.

In Q3 2021, this segment pulled out revenue of $7.55 million. The Autonomy solution segment majorly drives the company’s revenue. This constituted 94.64% of the total revenue earned by the company in total from all the segments. On a quarterly basis, the revenue witnessed a growth of 29.73%, from $5.82 million in Q2 2021 to $7.55 million in Q3 2021. In Q3 of 2020, this segment earned $3.48 million in revenue. On comparing Q3 2021 with the same quarter of the previous year, i.e., Q3 2020, the segment’s revenue increased by almost 117% on a yearly basis.  

Components Sales

Components Sales segment of the company provides testing and consulting services to U.S. customers, including government agencies and defense contractors for the purpose not related to autonomous vehicles. The company anticipates alignment and integration of this segment with portions of the Autonomy solutions segment, specifically relating to lidar solutions for the Defense and other similar markets.

In Q3 2021, this segment pulled out revenue of $0.428 million. This constituted 5.361% of the total revenue earned by the company in total from all the segments in Q3 2021. This segment has been on a decline in generating revenue. On a quarterly basis, the revenue witnessed a fall from $0.487 million in the previous quarter, Q2 2021 to $0.428 million in Q3 2021, making a decline of 12.11% from the previous quarter. In Q3 of 2020, this segment earned $0.742 million in revenue. When comparing on a year-on-year basis, the revenue fell by 42.32% from $0.742 million in the same quarter of the previous year, i.e, Q3 2020 to $0.428 million in Q3 2021.

About Luminar Technologies

The company specifically encompasses laser imaging, detection, and ranging (LIDAR) technology. The company produces and distributes commercial lidar sensors and certain major components for autonomous vehicles. The company has its business spread across California, Palo Alto, Michigan, Boston, Florida, etc. The company’s vision is to make autonomous transportation safe, secure, and omnipresent. Being a global leader in lidar technology, the company is enabling the world’s first autonomous solutions for the production of automotive series in passenger cars and commercial trucks.

Luminar Technologies Inc was incorporated in the year 2018 on August 28 in Delaware. Originally the company was named Gores Metropoulos Inc. The sole purpose of the company was to effect the merger, asset acquisition, reorganization, or similar business combination with other businesses. On December 2, 2020, the company decided to consummate the business. As a result, Legacy Luminar was incorporated in Delaware on March 31, 2015. The company changed its name from Gores Metropoulos Inc to Luminar Technologies Inc., in connection with the consummation of the business combination. The company’s stock is listed on NASDAQ under the ticker symbol “LAZR”. The company is a major market player in producing sensor technologies and software for the autonomous vehicle industry.

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