Such anticipated programs and volumes/take rates are based on commitments by our partners that are dependent on successful performance through development and validation and entering definitive purchase orders for series production, which may change for a variety of reasons as disclosed herein and other SEC filings, including, without limitation, the risks set forth in the 'Forward-Looking Statements' section below.
SYSTEM REQUIREMENTS SCOPEBOX SOFTWARE
Order Book is defined as the forward-looking cumulative sales estimates of Luminar’s hardware and software products over the lifetime of given programs which Luminar’s technology is integrated into or provided for, based primarily on projected/actual contractual pricing terms and good faith estimates of 'take rates' of Luminar’s technology on vehicles.
The non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP. Non-GAAP financial measures are presented only as supplemental information for purposes of understanding the Company’s operating results. In addition, investors often use similar measures to evaluate the operating performance of a company.
The Company’s management uses these measures to (i) illustrate underlying trends in the Company’s business that could otherwise be masked by the effect of income or expenses that are excluded from non-GAAP measures, and (ii) establish budgets and operational goals for managing the Company’s business and evaluating its performance. Luminar considers these non-GAAP financial measures to be important because they provide useful measures of the operating performance of the Company, exclusive of factors that do not directly affect what we consider to be our core operating performance, as well as unusual events. Non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures presented by other companies. generally accepted accounting principles (GAAP), this press release contains certain non-GAAP financial measures. In addition to disclosing financial measures prepared in accordance with U.S.
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