Luminar (LAZR) Stock Plunges After Founder Exit and Wider-Than-Expected Loss
Shares of Luminar Technologies (NASDAQ:LAZR) slid about 7% in pre-market trading Thursday after the LiDAR firm posted mixed first-quarter results and said its founder will step down amid an internal ethics probe.
Warning! GuruFocus has detected 8 Warning Signs with LAZR.
Revenue for the quarter ended March 31 rose to $18.9 million, topping the $16.3 million average analyst estimate. However, the loss per share widened to $1.82, worse than the expected $1.63 loss.
The company said Paul Ricci, former CEO of Nuance, will become chief executive around May 21, following the resignation of Austin Russell as CEO and board chair. Russell will remain on the board, and Luminar noted the inquiry does not affect its financials, according to a Thursday press release.
The company reiterated its 2025 revenue target of 10% to 20% growth over the $75.4 million posted in 2024. Analysts are expecting closer to $86.4 million. Gross losses are projected to remain between $5 million and $10 million quarterly through the year.
LiDAR shipments jumped 50% sequentially to about 6,000 units in Q1. Luminar expects to triple production volumes by year-end and continue scaling its "Halo" product with OEM partners.
This article first appeared on GuruFocus.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Why Braze, Inc. (BRZE) Crashed On Friday
We recently published a list of . In this article, we are going to take a look at where Braze, Inc. (NASDAQ:BRZE) stands against other Friday's worst-performing stocks. Braze Inc. dropped its share prices by 17.65 percent on Friday to finish at $29.73 apiece as investors soured on its dismal earnings performance in the first quarter of fiscal year 2026. In a statement, Braze, Inc. (NASDAQ:BRZE) said attributable net loss was unchanged at $35 million, despite revenues increasing by 20 percent to $162 million from $135 million, driven primarily by new customers, upsells, and renewals. A web developer hunched over their laptop coding a customer engagement platform. For the second quarter of the year, Braze, Inc. (NASDAQ:BRZE) is targeting to hit $171 million to $172 million in revenues, with a net income ranging from $2.5 million to $3.5 million. The full-year period alone is expected to rake in between $702 million and $706 million in revenues, and a net income of $17 million to $21 million. The company also welcomed Ed McDonnell as its new chief revenue officer. 'McDonnell has a strong track record of delivering results at high-growth public SaaS businesses, and we believe his extensive background in Software and Customer Engagement will further solidify Braze as the leading customer engagement platform and accelerate growth in the coming years,' said Braze, Inc. (NASDAQ:BRZE) CEO Bill Magnuson. Overall, BRZE ranks 3rd on our list of Friday's worst-performing stocks. While we acknowledge the potential of BRZE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Why DocuSign, Inc. (DOCU) Crashed On Friday
We recently published a list of . In this article, we are going to take a look at where DocuSign, Inc. (NASDAQ:DOCU) stands against other Friday's worst-performing stocks. DocuSign dropped its share prices by 18.97 percent on Friday to end at $75.28 apiece after slashing its full-year billing outlook amidst its shift to an artificial intelligence model. For the full year period, DocuSign, Inc. (NASDAQ:DOCU) now expects billings to settle in the range of $3.285 billion to $3.339 billion, down from its previous outlook of $3.30 billion to $3.354 billion. A software engineer in front of a computer screen, typing code to build the company's electronic signature software. According to DocuSign, Inc. (NASDAQ:DOCU) CEO Allan Thygesen, the decline in billings this year was expected due to 'foundational go-to-market changes' following the adoption of Intelligent Agreement Management, an AI-driven agreement platform. However, Thygesen said that 'the impact happened sooner than anticipated,' causing the drop in early renewals during the first quarter period, and negatively impacting billings growth. In the first quarter of the year, DocuSign, Inc. (NASDAQ:DOCU) achieved a 118-percent jump in net income to $72 million from $33 million in the same period last year. Revenues increased by 7.6 percent to $763 million from $709 million year-on-year. Overall, DOCU ranks 2nd on our list of Friday's worst-performing stocks. While we acknowledge the potential of DOCU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
an hour ago
- Yahoo
Why Lululemon Athletica Inc. (LULU) Crashed On Friday
We recently published a list of . In this article, we are going to take a look at where Lululemon Athletica Inc. (NASDAQ:LULU) stands against other Friday's worst-performing stocks. Lululemon fell by 19.8 percent on Friday to finish at $265.27 apiece following a disappointing earnings performance and outlook guidance for the rest of the year. In its financial statement, Lululemon Athletica Inc. (NASDAQ:LULU) said net income in the first quarter of the year dipped by 2 percent to $314 million from $321 million in the same period last year. Net revenues, on the other hand, grew by 7 percent to $2.37 billion from $2.2 billion year-on-year. A store employee in an athletic apparel store restocking merchandise. For the second quarter of the year, Lululemon Athletica Inc. (NASDAQ:LULU) expects net revenue to be in the range of $2.535 billion to $2.56 billion, representing growth of 7 percent to 8 percent. For the full-year period, it said targets net revenue to be in the range of $11.15 billion to $11.3 billion, representing growth of 5 to 7 percent. Following the guidance, JPMorgan and UBS both reduced their price targets for the company to $303 and $290, respectively, from $389 and $330 previously. Overall, LULU ranks 1st on our list of Friday's worst-performing stocks. While we acknowledge the potential of LULU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
