![]() Cash, Cash Equivalents and Marketable Securities (including liquidity): The company expects to end the year with a balance of greater than $300 millionĪt Luminar Day, the company unveiled its plan to achieve near-term as well as long-term profitability, with target metrics beginning this year.Gross Margin: The company expects to reach positive gross margin by the fourth quarter.Revenue Growth: The company expects revenue growth of at least 100% in 2023.Bring new high volume, automated manufacturing facility in Mexico online and validate to Volvo’s series production requirements for global vehicle launchesĬomplete software to support Volvo and Mercedes-Benz series production programsĪdd at least $1 billion to forward-looking Order Book in 2023.Top 3 Critical Business Milestones to Achieve by Year-End 2023: Today, Luminar updated its annual business milestone targets and financial guidance for the full year of 2023. Major 2023 Milestone Targets and Financial Guidance: ![]() ![]() Net cash used in operating activities was higher and Free Cash Flow was lower sequentially from Q3 primarily due to operating loss from industrialization & software investments. Free Cash Flow (operating cash flow less capital expenditures) was $(79.5) million in Q4 and $(226.3) million for the full year. Net cash used in operating activities was $(74.7) million in Q4 and $(208.2) million for the full year.
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