09:52 AM EDT, 10/31/2025 (MT Newswires) -- Luminar Technologies ( LAZR ) said in a US Securities and Exchange Commission filing that substantial doubt exists about its ability to continue as a going concern, which could impact the company's relationship with its customers, suppliers and materially affect Luminar's ( LAZR ) financial condition.

Luminar ( LAZR ) said it is suspending its fiscal 2025 guidance and expects to report revenue of $18 million to $19 million in Q3. Four analysts polled by FactSet expect $17.4 million.

The company said it had total debt of $429.2 million, and cash and marketable securities of $74 million as of Sept. 30.

Luminar ( LAZR ) also said chief financial officer Thomas Fennimore will step down from his role, effective Nov. 13, and that it plans to reduce its workforce by about 25% in order to reduce operating costs.

The company said it expects to incur $2 million to $3 million in cash charges related to employee costs in Q4.

Shares of the company were down 22% in recent Friday premarket trading.

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