(June 24) Luminar rose 12% in morning trading.
Luminar Technologies CFO Tom Fennimore says the company targets becoming profitable in 2024.
In an interview withThe Wall Street Journal, Fennimore reiterates some of the company's full-year goals, weeks after sample versions of its lidar sensors went into production at a contract manufacturing facility in Mexico.
Fennimore says the company aims to end the year with more cash than at the beginning. The company had $485.7M in liquidity as of December 31, 2020. As of March 31, liquidity stood at $610.3M.
The CFO says the extra cash will cushion the company against any potential "bump on the road."
Luminar's existing automaker relationships include Volvo, Daimler, and SAIC.