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Luna Innovations Incorporated - LUNA STOCK NEWS

Welcome to our dedicated page for Luna Innovations Incorporated news (Ticker: LUNA), a resource for investors and traders seeking the latest updates and insights on Luna Innovations Incorporated stock.

Luna Innovations Incorporated (LUNA) is a leading company in the field of optical technology. The company provides high-performance fiber optic test, measurement, and control products primarily for the telecommunications and photonics industries. Their expertise extends to distributed fiber optic sensing solutions, which are used to measure and monitor materials and structures in sectors such as aerospace, automotive, oil and gas, security, and infrastructure.

Who We Are: Luna Innovations is a diverse team of scientists, engineers, and business professionals dedicated to developing and manufacturing a new generation of technologies. The company operates in two main business segments: the Products and Licensing segment, and the Technology Development segment.

Products and Licensing Segment: This segment focuses on developing, manufacturing, and commercializing products that meet the needs of various markets. With the merger with Advanced Photonix, Inc., Luna Innovations now also packages optoelectronic semiconductors into high-speed optical receivers (HSOR), customizes optoelectronic subsystems, and offers terahertz instrumentation. The company provides advanced optical measurement technologies including sensing solutions and communications testing equipment. Their Lightwave segment is notable for its specialized laser and photonic components.

Technology Development Segment: This segment is dedicated to applied research services for both commercial and government-funded projects. Luna Innovations works in areas like sensing, advanced materials, and health sciences to accelerate the process of bringing innovative products to market.

Why It Matters: Luna Innovations' business model is designed to bring new and innovative products to market quickly. The company’s unique structure and diverse expertise allow it to serve a wide range of industries effectively, ensuring that clients receive cutting-edge technology solutions.

Financial Condition: Majority of Luna Innovations' revenue is generated from the U.S. market, highlighting its strong domestic presence. The company’s focus on high-performance, innovative products positions it well for sustained growth and market leadership.

Recent Achievements and Current Projects: The company continues to make significant strides in optical technology, contributing to major advancements across multiple industries. Luna Innovations regularly updates stakeholders with the latest developments and company milestones through press releases and news updates.

For the latest news, financial updates, and detailed information about Luna Innovations Incorporated, visit our news section.

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Luna Innovations (NASDAQ: LUNA) received a notice from Nasdaq regarding non-compliance with filing its Form 10-K for 2023, risking delisting if not rectified within the given timeframe.
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Luna Innovations Incorporated announced the retirement of Scott Graeff, the President and CEO, after 21 years of service. Richard Roedel has been appointed as the Interim Executive Chairman and Interim President. An Operations Committee has been established to oversee the company during the transition period.
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Luna Innovations (NASDAQ: LUNA) delays financial results release due to an ongoing review of revenue recognition issues in the second and third quarters of 2023, potentially indicating material weaknesses in internal controls. The company is working with external advisors to address these concerns and has filed a Form 12b-25 with the SEC for additional time to complete necessary tasks.
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Luna Innovations Incorporated (NASDAQ: LUNA) executives will participate in the 26th Annual Needham Growth Conference in New York City, New York. Scott Graeff, President and CEO; George Gomez- Quintero, CFO; and Brian Soller, CTO and EVP, Corporate Development, will present on Thursday, January 18, 2024, at 8:45 a.m. ET. A webcast of the presentation will be available on the investor relations section of Luna’s website at http://ir.lunainc.com/ and can be accessed at https://wsw.com/webcast/needham134/luna/2252448. A replay of the presentation will be available following the event. Management will also conduct meetings with investors throughout the conference.
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Luna Innovations Incorporated (NASDAQ: LUNA) announced a $50 million investment by White Hat Capital Partners to fund the acquisition of Silixa and enhance financial flexibility. The investment partially repaid the company's term loan and strengthened the balance sheet. The investment will be used to capitalize on the adoption of fiber optic sensing solutions, increase manufacturing capacity, and enhance investments in innovation. David Chanley joined Luna's Board of Directors, expanding the board to eight members.
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Luna Innovations Incorporated (NASDAQ: LUNA) acquires Silixa, a UK-based leader in distributed fiber optic sensing solutions, for $21.5 million in upfront cash consideration and up to an additional $16.5 million in earnouts. Silixa is expected to achieve approximately $30 million in 2023 revenue, representing approximately 15% annual growth. The acquisition strengthens Luna's position in the fiber optic sensing market and adds capabilities in distributed acoustic sensing (DAS), distributed temperature sensing (DTS) and distributed strain sensing (DSS) for applications in energy, natural environments, mining, and defense.
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Luna Innovations Incorporated (NASDAQ: LUNA) secures a new multi-million dollar order for its OBR 6200 portable backscatter reflectometer, extending its relationship with Northrop Grumman. The order is part of a multi-year agreement and reflects the company's success in providing advanced solutions for the defense sector. The OBR 6200 instrument is included in the sustainment equipment for the global fleet of F-35 aircraft, demonstrating the value of Luna's products in enhancing national defense.
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Luna Innovations (NASDAQ: LUNA) collaborates with ABB to commission the largest gas pipeline and fiber-optic monitoring solution for the Trans-Anatolian Natural Gas Pipeline (TANAP) to ensure transcontinental gas supply from Azerbaijan to the EU. The project spanning six years provides leak detection, pipeline security, and facility security across the 1,811 km route, addressing critical energy supply issues in Europe.
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Luna Innovations Inc. (NASDAQ: LUNA) reported Q3 total revenue of $30.7 million, up 5% year over year. Gross margin was 57%, and net income was $0.5 million. Adjusted EBITDA was $4.2 million, and adjusted EPS was $0.07. The company also announced a 9% increase in revenue for the nine months ended September 30, 2023. Luna is updating its 2023 revenue outlook to $120 million to $125 million and maintaining the adjusted EBITDA outlook of $14 million to $18 million.
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Luna Innovations Incorporated (NASDAQ: LUNA) announced a large contract with a top-tier hyperscaler to provide polarization control technology for improved accuracy in tests performed on components in data centers. This technology will help the provider increase traffic bandwidth, reduce latency, and enable more efficient data transfer in hyperscale data centers, supporting the growth of artificial intelligence and machine learning.
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FAQ

What is the current stock price of Luna Innovations Incorporated (LUNA)?

The current stock price of Luna Innovations Incorporated (LUNA) is $1.63 as of November 15, 2024.

What is the market cap of Luna Innovations Incorporated (LUNA)?

The market cap of Luna Innovations Incorporated (LUNA) is approximately 55.5M.

What does Luna Innovations Inc do?

Luna Innovations Inc provides high-performance fiber optic test, measurement, and control products for telecommunications, photonics, and other industries.

What are the main business segments of Luna Innovations?

The main segments are the Products and Licensing segment and the Technology Development segment.

Which industries does Luna Innovations serve?

Luna Innovations serves industries including aerospace, automotive, energy, defense, healthcare, and telecommunications.

What technologies does Luna Innovations specialize in?

Luna specializes in optical measurements, fiber optic sensing solutions, terahertz instrumentation, and high-speed optical receivers.

How does Luna Innovations accelerate product market entry?

Their business model is designed to streamline the development and commercialization of new and innovative products.

Where does Luna Innovations generate most of its revenue?

The majority of its revenue is derived from the U.S. market.

What recent achievements has Luna Innovations made?

The company has made significant advancements in optical technology and continues to update stakeholders with new developments.

What kind of research services does Luna Innovations provide?

Luna offers applied research services in sensing, advanced materials, and health sciences for commercial and government-funded projects.

What is the Lightwave segment of Luna Innovations?

The Lightwave segment focuses on optical measurement technologies, including fiber optic sensing and photonic components.

How has the merger with Advanced Photonix, Inc. impacted Luna Innovations?

The merger has expanded Luna's capabilities to include packaging optoelectronic semiconductors and offering terahertz instrumentation.

Luna Innovations Incorporated

Nasdaq:LUNA

LUNA Rankings

LUNA Stock Data

55.52M
33.96M
8.07%
50.19%
5.73%
Scientific & Technical Instruments
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