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August 12 , 2021 LUMINAR Luminar Reports Q2 2021 Results and Business Update Raises Guidance for Full - Year 2021 Revenue , Major Commercial Program Targets And Forward - Looking Order Book ORLANDO , Fla .-- ( BUSINESS WIRE ) -- Luminar Technologies , Inc. ( NASDAQ : LAZR ) , the global leader in automotive lidar hardware and software technology , today announced its quarterly business update and financials for the second quarter of 2021 , ended June 30 , 2021. The company is increasing full - year guidance for major commercial wins , revenue , and forward - looking order book growth as a result of strong year - to - date execution and accelerating OEM adoption of Luminar . " This has certainly been our most incredible quarter yet . We've been relentlessly executing and are on - track or beating each of our five key milestones . Since our last update , we made our first acquisition as a public company , and we achieved the industry's most significant commercial win to - date for lidar and software , " said Austin Russell , Luminar Founder and CEO . " Our industry - first standardization win with Volvo has solidified Luminar as not only the standard in automotive lidar , but also the standard for next - generation vehicle safety . " Major 2021 Milestones and Q2 Company Highlights : Today , Luminar reported second - quarter progress on its five key 2021 milestones set forth at the beginning of the year and increased several targets driven by strong year - to - date performance . 1. Iris Industrialization for Series Production : Luminar has now locked down over 85 % of its series production supply chain and tooling for Iris , and expects to enter the C- phase in the fourth quarter . The company has also completed and passed some of the most challenging automotive - grade testing for Iris , including thermal , shock , vibration , and electrical . The company also acquired OptoGration1 , its exclusive InGaAs chip design partner and manufacturer , which secures a key part of its supply chain and deepens Luminar's competitive moat . In addition , the company was awarded its one hundredth patent in the second quarter , more than all other public lidar companies combined . 2. Software & Product Development : Today , Luminar showcased its first public demonstration² of its Proactive Safety ™ software and capabilities in action . Luminar software is also a part of Volvo's standard safety package program for their next- generation electric SUV . Luminar remains on track to deliver its alpha version of the full - stack Sentinel solution by year end . 3. Commercial Programs & Customer Adoption : Volvo's decision to make Luminar a standard³ feature on its next - generation electric SUV represents an industry first and a catalyst for next - generation automotive safety . Luminar is now doubling its major commercial win target this year to six from three , based on accelerated adoption of