Luminary appears to have a good product.

The risk for all new micro suppliers is that they need to sell to larger companies in order to get enough sales volume to survive. Unfortunately, most large companies have rules preventing their new designs from using components from small companies. They don't want their future financial success to depend on the suspect finances of a startup. Remember Triscend?

As is the case with most startups, Luminary has a "burn-rate". They are spending more money than they are earning. The question is: will they become profitable before the money runs out?