Shares of Luminar Technologies fell on Wednesday after it reported that third-quarter revenue missed estimates and lowered its full-year topline guidance.
The stock was down nearly 10% in after-hours trading, following a 3.4% rise at Wednesday's close. Shares are down 26% this year.
The Orlando, Fla.-based company, which makes sensors for cars, reported that revenue rose 33% to $17 million, missing the $19.6 million forecast by analysts and below the company's own guidance.
Luminar said it now expects full-year revenue of about $75 million, representing year-on-year growth of about 85%. The company previously said it expected revenue to at least double on the year.
The company's loss widened to $134.3 million, or 34 cents a share, from $117.6 million, or 33 cents a share, a year earlier.
