Luminar Technologies Inc., a leading global automotive technology company, has announced its financial results for the second quarter of 2025. The company reported a revenue of $15.6 million, marking a decrease of 5% compared to the same quarter in 2024 and a 17% decline from the first quarter of 2025. The gross loss for Q2 was $12.4 million on a GAAP basis and $10.8 million on a non-GAAP basis. The net loss stood at $30.5 million on a GAAP basis. Luminar ended the second quarter with $107.6 million in cash and marketable securities, excluding a $50 million undrawn line of credit and remaining equity financing and convertible preferred facility options. In terms of business operations, Luminar is focusing on delivering on customer commitments and expanding its reach beyond the automotive sector into commercial markets. Key upcoming milestones include the ASIC tape-out for Halo and the launch of a high-volume production line in Thailand by the end of Q4 2025. Additionally, a low-volume Halo prototype line is expected to launch by the end of Q1 2026, with Halo B-sample delivery anticipated by the end of Q2 2026. For the fiscal year 2025, Luminar has revised its financial guidance, projecting total revenue between $67 million and $74 million, a decrease from the previously implied range of $82 million to $90 million. The revision accounts for updated expectations of vehicle production ramps in the second half of 2025 and the winding down of non-core business activities. Sensor shipments are now expected to be between 20,000 to 23,000 units for the year, down from previous guidance of 30,000 to 33,000 units.