Velodyne ended the quarter with cash, cash equivalents, and short-term investments of $324.5 million. The company delivered 4,400 LiDAR sensors during the third quarter. Its Non-GAAP EPS stood at ($0.19), missing estimates by $0.04. Not unexpectedly, the company missed the revenue consensus by $7.7 million. This decrease was due to the absence of a non-recurring stocking fee and a lower average selling price in Q3. In the third quarter of 2021, Velodyne Lidar’s revenue decreased 59.3% on a year-over-year basis, coming in at $13.06 million. Moreover, its revenues should lift 384.35% to $11.78 million in the current quarter. Besides, LAZR maintained its FY2021 guidance, planning to recognize revenue in the range between $30 and $33 million.įor the fourth quarter, Wall Street expects Luminar’s EPS to grow 5.85% year-over-year to ($0.11). However, LAZR slightly missed Wall Street estimates by $0.92 million.Īlthough Luminar’s net loss grew 64% year-over-year to $51.34 million, its Non-GAAP EPS was ($0.10), in line with analysts’ consensus. In Q3, the company’s revenue increased by 89.1% year-over-year to $7.98 million, driven by increased sales from its Autonomy Solutions segment. Luminar Technologies last issued its earnings report on Thursday, November 11th. Over the past six months, LAZR stock has decreased about 27%, outperforming its rival VLDR, which dropped around 54% over the same period. Velodyne Lidar is a California-based technology company that produces a real-time three-dimensional vision for autonomous systems. Founded in 2012, Luminar Technologies develops and sells lidar sensors and other software solutions related to autonomous vehicles. Therefore, today I’ll analyze and compare two autonomous driving stocks: Luminar Technologies, Inc. So, companies from the given industry should benefit in forthcoming years. The LiDAR system enables autonomous vehicles to collect information about a vehicle’s surroundings, thus taking over from the driver.īesides, the global autonomous cars market is estimated to reach $64.88 billion by 2026, growing at a CAGR of 22.7% during the forecast period, Facts & Factors report. LiDAR utilizes fast laser pulses to create a three-dimensional visual image. With the rapid development of light detection and ranging (LiDAR) technology, the automotive industry is becoming closer to releasing next-generation self-driving vehicles.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |