The company's financial position has deteriorated significantly, with equity falling to -$9.6 million and a current ratio of 0.42, indicating severe constraints on short-term solvency.
| Total Current Assets | 56.94M | 245.23M | 350.62M | 554.59M | 845.39M | 500.81M | 41.47M | 52.49K |
| Cash & Short-Term Investments | 22.84M | 182.67M | 289.82M | 488.87M | 792.12M | 485.65M | 33.74M | 52.49K |
| Cash Only | 20.26M | 82.84M | 139.09M | 69.55M | 329.98M | 208.94M | 27.08M | 52.49K |
| Short-Term Investments | 2.58M | 99.83M | 150.73M | 419.31M | 462.14M | 276.71M | 6.66M | 0 |
| Accounts Receivable | 5.96M | 37.17M | 31.6M | 31.8M | 25.75M | 8.23M | 1.68M | 2.48M |
| Days Sales Outstanding | 32.95 | 179.97 | 165.3 | 285.23 | 294.19 | 215.35 | 48.57 | 77.48 |
| Inventory | 6.66M | 14.91M | 12.2M | 8.79M | 10.34M | 3.61M | 4M | 2.93M |
| Days Inventory Outstanding | - | 53.83 | 31.25 | 31.78 | 81.9 | 52.85 | 87.71 | 97.63 |
| Other Current Assets | 21.48M | 2.16M | 1.53M | 9.47M | 2.54M | 775K | 1.22M | 2M |
| Total Non-Current Assets | 74.41M | 119.99M | 161.75M | 132.74M | 38.14M | 9.54M | 10.4M | 437.38K |
| Property, Plant & Equipment | 49.06M | 83.76M | 109.01M | 51.5M | 20.15M | 7.69M | 7.87M | 8.44M |
| Fixed Asset Turnover | 1.35x | 0.90x | 0.64x | 0.79x | 1.58x | 1.81x | 1.60x | 1.39x |
| Goodwill | 1.75M | 3.99M | 7.39M | 18.82M | 3.11M | 701K | 701K | 701K |
| Intangible Assets | 10.02M | 15.56M | 22.99M | 22.08M | 2.42M | 0 | 0 | 0 |
| Long-Term Investments | 0 | 10M | 14M | 4M | 10M | 0 | -2.35K | 0 |
| Other Non-Current Assets | 13.57M | 6.68M | 8.36M | 36.34M | 12.46M | 1.15M | 1.83M | -8.7M |
| Total Assets | 131.34M | 365.21M | 512.37M | 687.33M | 883.54M | 510.35M | 51.86M | 489.86K |
| Asset Turnover | 0.50x | 0.21x | 0.14x | 0.06x | 0.04x | 0.03x | 0.24x | 23.87x |
| Asset Growth % | -64.04% | -28.72% | -25.46% | -22.21% | 73.12% | 884.02% | 10487.43% | - |
| Total Current Liabilities | 137.11M | 60.59M | 83.87M | 77.54M | 39M | 16.59M | 14.77M | 486.85K |
| Accounts Payable | 4.74M | 18.97M | 21.11M | 18.63M | 14.42M | 6.04M | 3.46M | 0 |
| Days Payables Outstanding | - | 68.5 | 54.09 | 67.32 | 114.18 | 88.34 | 75.74 | - |
| Short-Term Debt | 112.94M | 0 | 0 | 0 | 4.83M | 99K | 7.79M | 150K |
| Deferred Revenue (Current) | 0 | 1.92M | 11.92M | 9.52M | 898K | 2.28M | 225K | -3.83M |
| Other Current Liabilities | 24.17M | 850K | 4.15M | 3.58M | -2.82M | 3.61M | 2.32M | -7.31M |
| Current Ratio | 0.42x | 4.05x | 4.18x | 7.15x | 21.68x | 30.19x | 2.81x | 0.11x |
| Quick Ratio | 0.37x | 3.80x | 4.04x | 7.04x | 21.41x | 29.97x | 2.54x | -5.90x |
| Cash Conversion Cycle | - | 165.3 | 142.46 | 249.68 | 261.91 | 179.86 | 60.54 | - |
| Total Non-Current Liabilities | 3.86M | 525.41M | 653.24M | 636.19M | 646.55M | 345.02M | 248.82M | 134.06M |
| Long-Term Debt | 3.67M | 500.52M | 615.43M | 612.19M | 608.96M | 302K | 1.55M | 131.89M |
| Capital Lease Obligations | 0 | 24.08M | 35.08M | 16.99M | 5.77M | 492K | 295K | 111K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 184K | 815K | 2.74M | 7.01M | 31.83M | 344.23M | 246.97M | 2.06M |
| Total Liabilities | 140.97M | 586M | 737.12M | 713.73M | 685.55M | 361.61M | 263.59M | 486.85K |
| Total Debt | 116.61M | 534.65M | 660.66M | 635.13M | 624.29M | 893K | 9.8M | 150K |
| Net Debt | 96.36M | 451.81M | 521.57M | 565.58M | 294.31M | -208.05M | -17.28M | 97.51K |
| Debt / Equity | - | - | - | - | 3.15x | 0.01x | - | 49.75x |
| Debt / EBITDA | - | - | - | - | - | - | - | 0.10x |
| Net Debt / EBITDA | - | - | - | - | - | - | - | 0.07x |
| Interest Coverage | -6.16x | -15.32x | -50.55x | -39.13x | -116.97x | -124.48x | -43.40x | - |
| Total Equity | -9.63M | -220.79M | -224.75M | -26.41M | 197.99M | 148.74M | -211.73M | 3.02K |
| Equity Growth % | 95.64% | 1.76% | -751.16% | -113.34% | 33.11% | 170.25% | -7022653.9% | - |
| Book Value per Share | -0.02 | -7.03 | -8.66 | -1.11 | 8.58 | 6.89 | -9.80 | 0.00 |
| Total Shareholders' Equity | -9.63M | -220.79M | -224.75M | -26.41M | 197.99M | 148.74M | -211.73M | 3.02K |
| Common Stock | 8K | 4K | 44K | 39K | 37K | 33K | 14K | 1.08K |
| Retained Earnings | -2.48B | -2.11B | -1.84B | -1.27B | -822.49M | -584.5M | -222.2M | -21.98K |
| Treasury Stock | 0 | -312.48M | -312.48M | -312.48M | -235.87M | 0 | 0 | 0 |
| Accumulated OCI | -474K | -295K | 2K | -4.23M | -908K | 34K | -1K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Critical liquidity and solvency
As reported in recent financial statements, Luminar's total assets have plummeted from $552.9 million in 2023Q3 to just $131.3 million by 2025Q4, reflecting a rapid contraction in the company's resource base as it struggles to fund its ongoing operations through a period of intense cash burn.
The consistent decline in total assets suggests that the company is consuming its capital reserves at an unsustainable rate to support its R&D and manufacturing infrastructure. This trajectory indicates that the firm's ability to sustain its current business model without significant external capital injections is increasingly compromised.
Based on the company's reported figures, the current ratio has deteriorated sharply to 0.42 in 2025Q4, down from 4.54 in 2023Q3, signaling that the firm's ability to cover its short-term obligations has become severely constrained as cash reserves dwindle to a precarious $20.3 million.
A current ratio below 1.0 indicates that current liabilities now exceed current assets, which may imply an imminent risk of default or the necessity for emergency financing. Investors should monitor this liquidity crunch closely, as it leaves virtually no margin for operational errors or delays in production milestones.
According to the latest balance sheet data, Luminar's equity has fallen into negative territory at -$9.6 million, a stark reversal from the positive equity positions held in prior periods, which underscores the cumulative impact of persistent net losses and the erosion of shareholder value over time.
The shift to negative equity suggests that the company's liabilities have effectively outpaced its assets, leaving no residual value for shareholders on a book basis. This condition warrants further investigation into the firm's long-term solvency and the potential for future dilutive equity offerings to restore a positive capital base.
As indicated by the company's financial disclosures, total debt remains elevated at $116.6 million in 2025Q4, which, when viewed alongside the company's negative equity and minimal cash position, suggests a highly leveraged and fragile capital structure that leaves little room for operational flexibility.
The presence of significant debt on a balance sheet with negative equity and dwindling cash reserves may indicate that the company is relying heavily on credit to bridge its funding gap. This structure appears to prioritize immediate survival over long-term financial health, increasing the risk of a debt-driven restructuring event.
Quick answers to the most common questions about buying LAZR stock.
As of 2025, Luminar Technologies, Inc. (LAZR) had total assets of $131.3M including $56.9M in current assets.
Luminar Technologies, Inc. (LAZR) carries total debt of $116.6M, offset by $22.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Luminar Technologies, Inc. (LAZR) has total shareholders' equity (book value) of $-9.6M ($-0.02 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Luminar Technologies, Inc. (LAZR) reported a current ratio of 0.42x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.