So that's- that's been super exciting.īut yeah, I mean, the great thing about this space is that, you know, it's very high barrier to entry, but equivalently very high barrier to exit.
The Nvidia news that we had is going to be launching in 2024 as it's already getting designed into automakers and programs. Now having new vehicles rolling off the line with Luminar embedded into it as a default safety standard, it really makes all the difference.īut- but you know, we're continuing to see huge compounding effects. We've landed some of the biggest deals in the industry and certainly, the biggest of their kind, like say, standardizing on Volvo vehicles to be able to actually get out there. And Austin, so you talked about those serious numbers- or when you get to that scaled production, when do you really expect that to be reflected in some of Luminar's top line numbers here?ĪUSTIN RUSSELL: Yeah, I mean, I really think by 2023, that's when it starts really accelerating with all this. And with things like the Nvidia win they announced just a couple of days ago, that's only accelerating that as well. So it'll be great to see that happen, and with some of these wins, it's good. And- and that's part of what we're launching with our start up production before the end of next year.
Luminar ceo series#
And that's really the significance of the wins that we've had- is that we're really the first and only company to actually be able to enable autonomous vehicles in new series production, enabling that level of capability. The real- the serious numbers that you're talking about are after you start scaling up in series production. But at the same time, I think the reality is that for things like financials and revenues and other stuff at this stage, it's more of just about programs that you're working with today. But yes- so that's fully on track and fully to expectation with what we're going for. And for that matter, it was actually directly in line with the internal estimated forecast that we had. So we remain fully on track for the raised guidance that we had for the year. So we don't provide quarterly guidance for- for specifics on revenue. JULIE HYMAN: And Austin, it does look like that the revenue missed by a little bit, but it sounds like from what you're saying that most of that's going to be pushed forward in terms of- of revenue gains?ĪUSTIN RUSSELL: Right, right. And everything else has otherwise been in line for meeting our key milestones and meeting or beating all of them that we had outlined on the call. And that's why we also had to had raised the guidance for the commercial wins. So there's- there's no shortage of traction and certainly exceeded our expectation. And seeing Mobileye launch their car was fantastic too. But I mean, compounding on that, we're talking a number of other wins- Nvidia, Polestar, Webasto, and Alfa. So that's only been accelerating, for that matter.īut I think as we face global supply chain, logistics challenges, all the more important. You know, we just had a couple of great wins with you know two of the top autonomous trucking players you know, just in this past quarter. I think there's definitely a major opportunity there, and this is something that we've been heavily capitalizing. You talked a little bit about this on the earnings call last night- what are your plans in the truck market and how might they unfold next year?ĪUSTIN RUSSELL: Yeah, so huge believer in the autonomous trucking market. One thing that we haven't talked about- we've been talking to you, really, since you had the IPO late last year- is an emerging truck strategy. So let's dive in here with Luminar founder and CEO, Austin Russell. Most recently, one notable deal with surging chip seller, Nvidia, these deals are overshadowing the company's earnings out last night. Video transcriptīRIAN SOZZI: The big winds are piling up at Lidar maker, Luminar.
Luminar CEO Austin Russell joins Yahoo Finance to discuss the future of autonomous vehicles, their Nvidia partnership, and how the Rivian IPO displays driven interest in EV and autonomous vehicle markets.
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