![]() JULIE HYMAN: He doesn't know, I think is what-ĪUSTIN RUSSELL: Oh, yeah. It's, I mean, better for us.īRAD SMITH: How much stock do you think you'll be buying back? So I think it's also fair to say that we're going to be buying back a heck of a lot more stock at this point here, too, at these levels. But I think it's fair to say that, obviously, we believe it's substantially undervalued at this stage and probably some misperception there. So I think so you can speak to the conviction that's there. And that will be absolutely critical, we think, to being able to build this out, build out this company, and to be able to realize the amount of value that's there. And, you know, we've talked before, I think kind of getting dragged down with the SPAC pack that was there.īut in a world of companies that overpromise and under-deliver, we want to be the company that we are hopefully being able to take the right steps to prove the track record of being the company that will under-promise and overdeliver. But when it comes down to it, this is where, you know, obviously, it's- I think it was one of the worst days for tech companies in quite a long time with this. You know, we probably will at some point there. We only give annual guidance because trying to pinpoint things down to cents level on a quarterly basis there, too, is probably not a great exercise for us at this stage. So all the numbers that we have are actually ahead of all the internal expectations. What do you think happened there? Do you think it was a question of maybe you could have managed expectations a little bit better, or were there some unexpected things that cropped up in the quarter?ĪUSTIN RUSSELL: So I think we don't give quarterly guidance as part of all of this. You know, speaking of which, your stock is down again today following these results, right? And it looks like that the Street is focused on the revenue miss in particular. JULIE HYMAN: OK, OK, we won't delve too deeply in that. ![]() We're truly putting our money where the mouth is, so to say on this.īRIAN SOZZI: So you're not getting a salary? You're not getting a salary?ĪUSTIN RUSSELL: Nope, forgoing any normal CEO salary, pay package, whatever it is in favor of this, which would kick in at $50 per share. Did I get it right that you are not receiving compensation until your stock price reaches $50 a share?ĪUSTIN RUSSELL: That is correct. You mentioned something that caught my attention on the earnings call. ![]() So it's obviously, it's a tough market, but with everything with Luminar and everything we got going on, it's as great as it could be, and I've never had greater conviction for us and the company.īRIAN SOZZI: Yeah, we pull out all the stops from you. So we're focused, heads down, execution like no tomorrow, and it's enabling us to actually now even- and what we're doing now is we're actually going to be even increasing our series production capacity planning and some of the work that we're doing to be able to make sure that we can have that expanded capacity from just increased volume indications, everything that we have. See, you got a cool graphic up with some of the other partners that we have as well. And it's really coming together and continuing to happen. They have a vision to be able to ultimately see this kind of technology standardized on, you know, virtually every vehicle they've produced by 2030. So it's great to be able to see that happen. You know, we're just hot off the heels of establishing this new partnership with Nissan as well, which we're very excited to be able to have that aligned vision, and really, the first time this kind of technology being able to make its way to a mass market automaker. So, you know, we're really all in to make this happen. So everything from IRS industrialization for series production to software, commercial programs, or forward-looking order book, and we're on track to meet or beat each of those four key milestones, as well as the overall financial guidance that we gave at the beginning of the year for everything that we set out. AUSTIN RUSSELL: Yeah, so I think one thing that we outlined at the beginning of the year that was great was these four key business milestones that we had to be able to track the progress throughout the year.
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