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Pros
Pro Highest performing PHP micro-Framework
Lumen is benchmarked at 100/rps (Requests Per Second) faster than Slim v3, which used to be considered the fastest and most performant micro-Framework to date with the ability to handle 1800/rps. (1900/rps vs 1800/rps respectively).
Cons
Con It's based off Laravel and inherits its shortcomings
Lumen inherits many shortcomings of Laravel, such as static proxy classes.
Con Made to work alongside Laravel
Lumen as a framework is at it's full potential when used alongside it's older brother. Lumen was created to be used for microservices alongside Laravel, which is used for more user-facing applications. If a project is already using another framework other than Laravel, it would be better to use another microframework for microservices instead of Lumen.
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Flagged Pros + Cons
Pro It's faster than Slim 3 and Sirex
According to Lumen's internal benchmarks, it is 10% faster than Slim 3 and 50% faster than Sirex (requests per second)