2022 Q2 Form 10-Q Financial Statement

#000162828022021669 Filed on August 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $9.932M $6.855M $12.34M
YoY Change 57.43% 29.02% 407.98%
Cost Of Revenue $28.09M $16.65M $19.84M
YoY Change 257.72% 118.01% 194.33%
Gross Profit -$18.16M -$9.799M -$7.494M
YoY Change 1076.17% 321.28% 73.87%
Gross Profit Margin -182.84% -142.95% -60.71%
Selling, General & Admin $45.34M $39.42M $34.42M
YoY Change 99.34% 205.42% 119.24%
% of Gross Profit
Research & Development $40.94M $33.11M $29.05M
YoY Change 105.6% 136.32% 179.85%
% of Gross Profit
Depreciation & Amortization $1.739M $805.0K $1.922M
YoY Change 157.63% 22.53% 225.76%
% of Gross Profit
Operating Expenses $86.28M $72.53M $63.47M
YoY Change 102.26% 169.46% 143.27%
Operating Profit -$104.4M -$82.33M -$70.96M
YoY Change 136.28% 181.53% 133.43%
Interest Expense $3.148M $3.280M $546.0K
YoY Change 993.06% 1540.0% -144.39%
% of Operating Profit
Other Income/Expense, Net $9.188M -$5.598M -$3.477M
YoY Change 24.65% -88.01% -98.64%
Pretax Income -$95.25M -$87.93M -$73.89M
YoY Change 158.63% 15.81% -74.53%
Income Tax -$13.00K $400.0K $0.00
% Of Pretax Income
Net Earnings -$95.24M -$88.33M -$73.89M
YoY Change 158.59% 16.35% -74.53%
Net Earnings / Revenue -958.91% -1288.59% -598.61%
Basic Earnings Per Share -$0.27 -$0.25
Diluted Earnings Per Share -$0.27 -$0.25 -$205.5K
COMMON SHARES
Basic Shares Outstanding 352.1M shares 348.7M shares
Diluted Shares Outstanding 352.1M shares 348.7M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $605.3M $706.9M $792.1M
YoY Change 4.28% 15.82% 63.1%
Cash & Equivalents $76.72M $159.4M $330.0M
Short-Term Investments $528.5M $547.4M $462.1M
Other Short-Term Assets $14.67M $16.60M $15.38M
YoY Change 108.62% 90.84% 174.57%
Inventory $9.349M $10.01M $10.34M
Prepaid Expenses
Receivables $9.279M $3.256M $13.01M
Other Receivables $3.001M $2.463M $2.827M
Total Short-Term Assets $671.1M $758.4M $845.4M
YoY Change 11.55% 20.98% 68.81%
LONG-TERM ASSETS
Property, Plant & Equipment $19.95M $16.44M $11.01M
YoY Change -6.07% -22.47% 43.18%
Goodwill $18.47M $2.945M $3.110M
YoY Change 2534.09% 320.11% 343.65%
Intangibles $23.46M $2.361M $2.424M
YoY Change
Long-Term Investments $10.00M $10.00M
YoY Change
Other Assets $25.23M $13.67M $12.46M
YoY Change 855.32% 453.79% 982.1%
Total Long-Term Assets $104.5M $49.42M $38.14M
YoY Change 325.4% 102.79% 299.78%
TOTAL ASSETS
Total Short-Term Assets $671.1M $758.4M $845.4M
Total Long-Term Assets $104.5M $49.42M $38.14M
Total Assets $775.6M $807.8M $883.5M
YoY Change 23.86% 24.05% 73.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.12M $17.29M $14.42M
YoY Change 187.58% 120.43% 138.76%
Accrued Expenses $31.50M $24.85M $19.84M
YoY Change 144.14% 178.6% 89.86%
Deferred Revenue $3.665M $900.0K $898.0K
YoY Change 525.43% 37.61% -60.68%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $57.84M $47.22M $39.00M
YoY Change 138.62% 122.95% 135.07%
LONG-TERM LIABILITIES
Long-Term Debt $610.6M $609.8M $609.0M
YoY Change 314629.38% 273337.67% 201541.39%
Other Long-Term Liabilities $1.806M $429.0K $598.0K
YoY Change 59.4% -65.29% -54.63%
Total Long-Term Liabilities $1.806M $429.0K $598.0K
YoY Change 36.1% -70.6% -63.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $57.84M $47.22M $39.00M
Total Long-Term Liabilities $1.806M $429.0K $598.0K
Total Liabilities $687.0M $683.9M $685.6M
YoY Change 768.01% 713.66% 89.58%
SHAREHOLDERS EQUITY
Retained Earnings -$1.006B -$910.8M -$822.5M
YoY Change 44.29% 37.91% 40.72%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $275.5M $235.9M
YoY Change
Treasury Stock Shares 15.26M shares
Shareholders Equity $88.56M $123.9M $198.0M
YoY Change
Total Liabilities & Shareholders Equity $775.6M $807.8M $883.5M
YoY Change 23.86% 24.05% 73.12%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$95.24M -$88.33M -$73.89M
YoY Change 158.59% 16.35% -74.53%
Depreciation, Depletion And Amortization $1.739M $805.0K $1.922M
YoY Change 157.63% 22.53% 225.76%
Cash From Operating Activities -$52.36M -$32.84M -$54.16M
YoY Change 73.54% 17.22% 94.07%
INVESTING ACTIVITIES
Capital Expenditures -$2.487M $5.004M -$2.278M
YoY Change 36.65% 462.88% 935.45%
Acquisitions
YoY Change
Other Investing Activities $9.886M -$89.39M -$48.33M
YoY Change -123.39% -29.87% -69.62%
Cash From Investing Activities $7.399M -$94.40M -$50.61M
YoY Change -116.78% -26.46% -68.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -37.47M -$43.34M 305.4M
YoY Change -1786.94% -128.13% -11.74%
NET CHANGE
Cash From Operating Activities -52.36M -$32.84M -54.16M
Cash From Investing Activities 7.399M -$94.40M -50.61M
Cash From Financing Activities -37.47M -$43.34M 305.4M
Net Change In Cash -82.43M -$170.6M 200.7M
YoY Change 14.41% 7434.28% 26.36%
FREE CASH FLOW
Cash From Operating Activities -$52.36M -$32.84M -$54.16M
Capital Expenditures -$2.487M $5.004M -$2.278M
Free Cash Flow -$49.87M -$37.84M -$51.89M
YoY Change 75.9% 30.92% 87.39%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Registrant Name
EntityRegistrantName
Luminar Technologies, Inc./DE
dei Entity Central Index Key
EntityCentralIndexKey
0001758057
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-38791
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
83-1804317
dei Entity Address Address Line1
EntityAddressAddressLine1
2603 Discovery Drive
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 100
dei Entity Address City Or Town
EntityAddressCityOrTown
Orlando
dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
32826
dei City Area Code
CityAreaCode
407
dei Local Phone Number
LocalPhoneNumber
900-5259
dei Security12b Title
Security12bTitle
Class A common stock, par value of $0.0001 per share
dei Trading Symbol
TradingSymbol
LAZR
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
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Yes
dei Entity Filer Category
EntityFilerCategory
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EntitySmallBusiness
false
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false
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CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
123884000 usd
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
36958000 usd
CY2022Q2 lazr Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
314000 usd
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
659000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
29145000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
35542000 usd
CY2022Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1208000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1449000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-95239000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
88561000 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
148741000 usd
lazr Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
492221000 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3206000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
15758000 usd
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
140000 usd
lazr Adjustments To Additional Paid In Capital Increase From Settlement Of Recapitalization Of Escrow
AdjustmentsToAdditionalPaidInCapitalIncreaseFromSettlementOfRecapitalizationOfEscrow
10000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-27000 usd
us-gaap Net Income Loss
NetIncomeLoss
-112753000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
547016000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
197985000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
76606000 usd
lazr Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
19003000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1744000 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
43758000 usd
us-gaap Net Income Loss
NetIncomeLoss
-183572000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
59199000 usd
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1724000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-5097000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
88561000 usd
us-gaap Net Income Loss
NetIncomeLoss
-183572000 usd
us-gaap Net Income Loss
NetIncomeLoss
-112753000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2544000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1332000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2139000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1748000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-919000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-602000 usd
lazr Fair Value Adjustment Of Warrants And Financial Instruments Subject To Mandatory Redemption
FairValueAdjustmentOfWarrantsAndFinancialInstrumentsSubjectToMandatoryRedemption
-7876000 usd
lazr Fair Value Adjustment Of Warrants And Financial Instruments Subject To Mandatory Redemption
FairValueAdjustmentOfWarrantsAndFinancialInstrumentsSubjectToMandatoryRedemption
39721000 usd
lazr Payments To Vendors For Services Noncash Operating Activities
PaymentsToVendorsForServicesNoncashOperatingActivities
19916000 usd
lazr Payments To Vendors For Services Noncash Operating Activities
PaymentsToVendorsForServicesNoncashOperatingActivities
0 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1618000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
0 usd
us-gaap Inventory Write Down
InventoryWriteDown
4778000 usd
us-gaap Inventory Write Down
InventoryWriteDown
1453000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
65323000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
16367000 usd
lazr Product Warranty And Other Expense
ProductWarrantyAndOtherExpense
171000 usd
lazr Product Warranty And Other Expense
ProductWarrantyAndOtherExpense
572000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-7038000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3527000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2814000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2640000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
2417000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
8469000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
532000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
1490000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
7392000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
854000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1106000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2652000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-931000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1659000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-85198000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-58183000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
270440000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
376289000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
147053000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
169619000 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
50315000 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
36937000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7491000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2710000 usd
lazr Advances For Capital Projects And Equipment
AdvancesForCapitalProjectsAndEquipment
1673000 usd
lazr Advances For Capital Projects And Equipment
AdvancesForCapitalProjectsAndEquipment
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-86996000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-172443000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
153927000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1791000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2812000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1724000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
140000 usd
lazr Payments For Repurchase Of Common Stock And Warrants
PaymentsForRepurchaseOfCommonStockAndWarrants
80878000 usd
lazr Payments For Repurchase Of Common Stock And Warrants
PaymentsForRepurchaseOfCommonStockAndWarrants
2000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-276000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-80811000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
156321000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-253005000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-74305000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
330702000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
209719000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
77697000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
135414000 usd
us-gaap Interest Paid Net
InterestPaidNet
3863000 usd
us-gaap Interest Paid Net
InterestPaidNet
37000 usd
lazr Conversion Of Warrants Amount Issued
ConversionOfWarrantsAmountIssued
19003000 usd
lazr Conversion Of Warrants Amount Issued
ConversionOfWarrantsAmountIssued
338293000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9993000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2876000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2630000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
222000 usd
us-gaap Stock Issued1
StockIssued1
10293000 usd
us-gaap Stock Issued1
StockIssued1
0 usd
lazr Receivable From Stock Option Exercised
ReceivableFromStockOptionExercised
0 usd
lazr Receivable From Stock Option Exercised
ReceivableFromStockOptionExercised
394000 usd
us-gaap Nature Of Operations
NatureOfOperations
Organization and Description of Business<div style="margin-bottom:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Luminar Technologies, Inc. and its wholly-owned subsidiaries (the “Company” or “Luminar”) was originally incorporated in Delaware on August 28, 2018 under the name Gores Metropoulos, Inc (“Gores”). The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. On December 2, 2020 (the “Closing Date”), the Company (at such time named Gores Metropoulos, Inc.)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">consummated the business combination (the “Business Combination”) pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated August 24, 2020 with the pre-Business Combination Luminar Technologies, Inc. (“Legacy Luminar”). </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Legacy Luminar was incorporated in Delaware on March 31, 2015.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> In connection with the consummation of the Business Combination, the Company changed its name from Gores Metropoulos, Inc. to Luminar Technologies, Inc. The Company’s common stock is listed on the NASDAQ under the symbol “LAZR.” The Company’s public warrants to purchase shares of Class A common stock were listed on the NASDAQ under the symbol “LAZRW,” until they were delisted on March 5, 2021 upon exercise and redemption.</span></div><div style="margin-bottom:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unless the context otherwise requires, the “Company” refers to the combined company and its subsidiaries following the Business Combination, “Gores” refers to the Company prior to the Business Combination and “Legacy Luminar” refers to Luminar Technologies, Inc., prior to the Business Combination. Refer to Reverse Merger with Gores in Note 3 to the financial statements of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 for additional information relating to the Business Combination.</span></div><div style="margin-bottom:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is a developer of advanced sensor technologies and software for the autonomous vehicle industry, encompassing Laser Imaging, Detection and Ranging (lidar) technology. The Company manufactures and distributes commercial lidar sensors and certain components for the autonomous vehicle industry. The Company is headquartered in Orlando, Florida and has various facilities located in the United States and internationally in Munich, Germany.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities, equity, revenues and expenses, and related disclosures. The significant estimates made by management include inventory reserves, valuation allowance for deferred tax assets, valuation of warrants, forecasted costs associated with non-recurring engineering (“NRE”) services, product warranty reserves, stock-based compensation expense and other loss contingencies. Management periodically evaluates such estimates and they are adjusted prospectively based upon such periodic evaluation. Actual results could differ from those estimates.</span></div>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 operatingsegment
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-bottom:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to significant concentrations of credit risk, consist primarily of cash and cash equivalents, marketable investments and accounts receivable. A significant portion of the Company’s cash and cash equivalents is held at high-quality domestic financial institutions. </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deposits held with the financial institutions may, at times, exceed the amount of insurance provided on such deposits</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Cash held by the Company in foreign entities as of June 30, 2022 and December 31, 2021 was not material. </span></div>The Company’s revenue is derived from customers located in the United States and international markets.
CY2022Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
10481000 usd
CY2021Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
11385000 usd
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
22511000 usd
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
21534000 usd
CY2022Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-95470000 usd
CY2021Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-40823000 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-185410000 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-126631000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9932000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6309000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9932000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6309000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9932000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6309000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16787000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11622000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16787000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11622000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16787000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11622000 usd
CY2022Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
18300000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
9900000 usd
CY2022Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3700000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
900000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
9907000 usd
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0 usd
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
1602000 usd
us-gaap Contract With Customer Asset Credit Loss Expense
ContractWithCustomerAssetCreditLossExpense
9992000 usd
CY2021 us-gaap Contract With Customer Asset Credit Loss Expense
ContractWithCustomerAssetCreditLossExpense
9907000 usd
CY2022Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
18297000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
9907000 usd
CY2022Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3665000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
898000 usd
CY2022Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
33000 usd
CY2021Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
0 usd
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3698000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
898000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
898000 usd
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2284000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
397000 usd
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1792000 usd
lazr Contract With Customer Liability Increase Due To Cash Received Billings In Excess Of Revenue
ContractWithCustomerLiabilityIncreaseDueToCashReceivedBillingsInExcessOfRevenue
3197000 usd
CY2021 lazr Contract With Customer Liability Increase Due To Cash Received Billings In Excess Of Revenue
ContractWithCustomerLiabilityIncreaseDueToCashReceivedBillingsInExcessOfRevenue
406000 usd
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3698000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
898000 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
507932000 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
6005000 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
501927000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
419783000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
14000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
922000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
418875000 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
6005000 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
501927000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
922000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
372482000 usd
CY2022Q2 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
72228000 usd
CY2021Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
79872000 usd
CY2022Q2 us-gaap Cash
Cash
41112000 usd
CY2021Q4 us-gaap Cash
Cash
303373000 usd
CY2022Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
28107000 usd
CY2021Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
25654000 usd
CY2022Q2 us-gaap Commercial Paper At Carrying Value
CommercialPaperAtCarryingValue
7498000 usd
CY2021Q4 us-gaap Commercial Paper At Carrying Value
CommercialPaperAtCarryingValue
950000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76717000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
329977000 usd
CY2022Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2900000 usd
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
5866000 usd
CY2022Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
6181000 usd
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1171000 usd
CY2022Q2 us-gaap Inventory Finished Goods Net Of Reserves
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VendorPaymentsInStockInLieuOfCashShares
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CY2022Q2 lazr Vendor Payments In Stock In Lieu Of Cash Liability
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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0.002
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CY2021Q4 us-gaap Lessee Operating Lease Term Of Contract
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P65M
CY2022Q2 us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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2713000 usd
us-gaap Operating Lease Cost
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515000 usd
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445000 usd
us-gaap Variable Lease Cost
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1070000 usd
us-gaap Variable Lease Cost
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904000 usd
CY2022Q2 lazr Operating And Variable Lease Cost
OperatingAndVariableLeaseCost
2112000 usd
CY2021Q2 lazr Operating And Variable Lease Cost
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1629000 usd
lazr Operating And Variable Lease Cost
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us-gaap Operating Lease Payments
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CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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3213000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2022Q2 us-gaap Operating Lease Liability
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CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q2 us-gaap Depreciation Depletion And Amortization
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CY2022Q2 us-gaap Operating Income Loss
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CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q2 us-gaap Depreciation Depletion And Amortization
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CY2021Q2 us-gaap Operating Income Loss
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CY2021Q2 us-gaap Inventory Net
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CY2022Q2 us-gaap Assets
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4318000 usd

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R8.htm Edgar Link pending
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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable