How did Luminar Technologies' revenue and expenses trend in Q4 2024?

Luminar Technologies experienced a significant decline in revenue and a substantial increase in expenses in Q4 2024, leading to a negative gross margin.

1. **Revenue Trend**: The company's revenue was $22.48 million in Q4 2024. This represents a decrease from the previous quarter's revenue, although the exact percentage drop is not available. Comparatively, the revenue in the corresponding quarter of the previous year was not provided, making it difficult to assess the year-over-year change.

|code|Ticker|Name|Date|Selling, General, and Administrative Expenses|R&D Expenses|Gross Profit|Total Revenue|Advertising and Marketing Expenses|market_code|
|---|---|---|---|---|---|---|---|---|---|
|LAZR|LAZR.O|Luminar Technologies|2024 Q1|4.7564E7|6.775E7|-1.0455E7|2.0968E7||185|
|LAZR|LAZR.O|Luminar Technologies|2024 Q2|4.193E7|6.585E7|-1.368E7|1.6451E7||185|
|LAZR|LAZR.O|Luminar Technologies|2024 Q3|4.1303E7|5.0591E7|-1.4032E7|1.5493E7||185|
|LAZR|LAZR.O|Luminar Technologies|2024 Q4|3.0462E7|4.7478E7|1.2478E7|2.2484E7||185|

2. **Expense Trend**: The gross margin for Q4 2024 was -34.07%, indicating that the company's expenses exceeded its revenue during the period. The company's R&D expenses were $47.48 million, and its selling, general, and administrative expenses were $30.46 million. Without comparative data from the previous quarter, it is difficult to assess the change in these expense categories.
3. **Financial Health Concerns**: The significant negative gross margin and the fact that the company's expenses are exceeding its revenue raise concerns about Luminar Technologies' financial health in Q4 2024. The company's reliance on R&D and its high expenses could be a cause for concern, especially when compared to its revenue generation capabilities.