Luminar is cutting jobs, losing its CFO, and warning of a cash shortage
Update: 2025-10-31
Description
Luminar, a lidar technology company, faces a cash crunch, leading to significant layoffs and leadership changes. The company's CFO is stepping down, and its founder is attempting a buyout. Sales have plummeted due to reduced orders from key customer Volvo, forcing Luminar to sell sensors at a loss. With only $72 million in cash and a debt of $429 million, Luminar is at risk of running out of money by early 2026. The company's future hangs in the balance as it awaits third-quarter results and potential fundraising or buyout opportunities.
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