Luminar Unveils Unified Product Platform and Cost-Cutting Measures in Q1 Update on May 14, 2025

ORLANDO, Fla.--(BUSINESS WIRE)--Luminar (Nasdaq: LAZR), a leading global provider of automotive technology, has announced that it will reveal an updated strategic plan and go-forward strategy on May 14, 2025. The company plans to streamline its operations through a unified product platform designed to serve both its original equipment manufacturer (OEM) and technology partners more efficiently, reducing costs and enhancing focus. This announcement will coincide with the release of Luminar’s first-quarter 2025 business update and financial results. On May 14, 2025, at 4:00 p.m. EDT (1:00 p.m. PDT), Luminar will post detailed materials outlining its new strategic vision, including information on cost-saving measures and the company’s recent performance, on its Investor Relations website at https://investors.luminartech.com. An hour later, at 5:00 p.m. EDT (2:00 p.m. PDT), Luminar will host a live webcast to delve deeper into the strategic changes and discuss its financial results and guidance for the quarter. Management will also engage in a live question-and-answer session, where shareholders can submit their inquiries by emailing investors@luminartech.com. To stay informed about future updates and news, interested parties can visit Luminar’s Investor Relations site and sign up for email alerts at https://investors.luminartech.com/ir-resources/email-alerts. About Luminar: Luminar is a pioneering company in automotive technology, driving advancements in vehicle safety and autonomy. Over the past decade, Luminar has developed a sophisticated hardware and software/artificial intelligence (AI) platform, which is instrumental in enabling its partners—from major car manufacturers like Volvo Cars and Mercedes-Benz to tech giants such as NVIDIA and Mobileye—to integrate cutting-edge safety and autonomous features into their vehicles. A significant milestone was reached with the launch of the Volvo EX90, which became the first global production vehicle to standardize Luminar’s technology. With this achievement, Luminar stands at the forefront of enabling next-generation safety and autonomous capabilities for mass-produced vehicles worldwide. For more information, visit www.luminartech.com. Luminar continues to be a key player in the rapidly evolving automotive technology sector, and the upcoming strategic update is expected to further solidify its position as a leader in advanced vehicle safety solutions.