Luminar Technologies, a company specializing in Autonomy Solutions, reported that two of its customers contributed significantly to its revenue, with one accounting for 30% and another for 16% for the nine months ending September 30, 2023. The majority of the company's long-lived assets are based in North America. In a recent development, Luminar Technologies received a deficiency notice from Nasdaq on October 15, 2024, due to the company's stock price falling below the minimum bid price requirement of $1.00 for 30 consecutive trading days. However, this notice does not immediately affect its listing on the Nasdaq Global Select Market. The company has been granted a 180-day period to regain compliance with the minimum bid price requirement and is exploring all available options to address this...Show More

Luminar Technologies, a company specializing in Autonomy Solutions, reported that two of its customers contributed significantly to its revenue, with one accounting for 30% and another for 16% for the nine months ending September 30, 2023. The majority of the company's long-lived assets are based in North America. In a recent development, Luminar Technologies received a deficiency notice from Nasdaq on October 15, 2024, due to the company's stock price falling below the minimum bid price requirement of $1.00 for 30 consecutive trading days. However, this notice does not immediately affect its listing on the Nasdaq Global Select Market. The company has been granted a 180-day period to regain compliance with the minimum bid price requirement and is exploring all available options to address this issue. Additionally, on October 30, 2024, Luminar Technologies' stockholders approved a reverse stock split, which was set at a ratio of 1-for-15 by the Board on November 13, 2024. The reverse stock split is authorized to proceed but has not yet been implemented as of the latest financial statements. Furthermore, subsequent to the quarter-end, the company settled conversions of Series 1 and Series 2 Notes by issuing a total of 9,345,048 shares of Class A Common Stock.