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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.
Luna Innovations Incorporated (NASDAQ: LUNA) reported its financial results for the three months and full fiscal year ended December 31, 2020. The company achieved record revenue of $82.7 million for the year, a 17% increase from 2019. Fourth-quarter revenues reached $25.9 million, a 33% year-over-year increase, driven by strong performance in the Lightwave and Luna Labs segments. Despite increased operating expenses of 48% due to acquisition costs, adjusted EBITDA rose by 32% to $4.3 million. Luna expects 2021 revenues between $122 million and $127 million.
Luna Innovations (NASDAQ: LUNA) announces the nomination of Pamela Coe as an independent director, pending shareholder approval at the upcoming Annual Meeting in May 2021. Don Pastor, a board member since 2015, will retire after the meeting. Coe, with over 15 years of corporate leadership experience, is expected to provide diverse insights to enhance shareholder value. CEO Scott Graeff appreciates Pastor's impactful leadership during his tenure, particularly during the merger with Advanced Photonix, Inc.
Luna Innovations Incorporated (NASDAQ: LUNA) will report its fourth-quarter and full-year financial results for the period ending December 31, 2020, on March 11, 2021, after the market closes. The earnings report will be followed by a conference call at 5 p.m. Eastern, featuring key executives including CEO Scott Graeff and CFO Gene Nestro. The call can be accessed via live webcast on Luna's website or by telephone. Investors are encouraged to join the call early. Luna specializes in optical technology, providing test products for telecommunications and sensing solutions for various industries.
Luna Innovations (NASDAQ: LUNA) announced that CEO Scott Graeff will present at the 23rd Annual Needham Virtual Investor Growth Conference on January 13, 2021, at 2:00 p.m. ET. Investors can access a webcast of the presentation on Luna's investor relations website. The company reaffirmed its 2020 outlook, projecting total revenues between $81 million and $83 million, with an adjusted EBITDA of $10 million to $12 million. Adjusted EBITDA is a non-GAAP financial measure that provides insight into operating performance by excluding certain expenses.
Luna Innovations Incorporated (NASDAQ: LUNA) has secured a $6.2 million contract with Lockheed Martin, enhancing their long-standing partnership aimed at developing optical measurement products for the F-35 aircraft fleet. CEO Scott Graeff emphasized the significance of their collaboration and the technical contributions of Luna’s team. Recognized as Lockheed Martin's Evolutionary Technology Supplier of the Year in 2018, Luna supports multiple aerospace and defense sectors with advanced fiber-optic technologies. The deal's financial impact is factored into the company's reaffirmed 2020 guidance.
Luna Innovations Incorporated (NASDAQ: LUNA) has secured a new debt facility worth $27.5 million from PNC Bank. This comprises a $12.5 million term loan and a $15 million revolving credit line, both set for a three-year term. The loan will finance part of Luna's acquisition of OptaSense Holdings, Ltd. The interest rate for both facilities is tied to LIBOR plus a margin ranging from 1.75% to 2.25%. CEO Scott Graeff expressed gratitude for PNC's support and highlighted the strategic importance of this acquisition for future growth.
Luna Innovations Incorporated (NASDAQ: LUNA) reported robust financial results for Q3 2020, marking 12 consecutive quarters of revenue and Adjusted EBITDA growth. Total revenues reached $21.05 million, a 14% increase YoY. Gross profit rose by 18% to $10.95 million, with a gross margin of 52%. Operating income surged 52% to $2.25 million, while net income jumped 152% to $3.10 million or $0.10 per diluted share. For the year-to-date, total revenues were $56.77 million, an 11% increase, reaffirming guidance of $81 million to $83 million for full-year revenue.
Luna Innovations Incorporated (NASDAQ: LUNA) will report its third-quarter financial results for the period ending September 30, 2020, after the market closes on November 9, 2020. A conference call will follow at 5 p.m. Eastern, featuring key executives to discuss the results. Investors can listen via a live webcast on Luna's website or participate by phone, with specific dial-in numbers provided. The webcast will be archived for 30 days. Luna specializes in optical technology, offering high-performance fiber optic products for telecommunications and sensing solutions for various industries.
Luna Innovations (NASDAQ: LUNA) has announced a partnership with Shell's GameChanger program to develop an innovative fiber optic sensing solution for measuring in-situ stresses in subsurface rock. This technology, the Continuous Horizontal In-situ Stress Logger (CHISL), offers high-resolution strain measurements and aims to enhance safety and efficiency in well operations. By providing accurate estimates of underground pressure, CHISL could significantly impact hydraulic fracturing and other subsurface applications, reducing uncertainties and optimizing operations in the oil and gas industry.
Luna Innovations Incorporated (NASDAQ: LUNA) will have its President and CEO, Scott Graeff, participate in the Lytham Partners Virtual Investor Growth Conference on October 7, 2020, at 11:00 a.m. ET. A webcast of the presentation will be available on Luna's investor relations website. Additionally, the management team will engage in virtual one-on-one meetings from October 5-8, 2020. For meeting arrangements, interested parties can contact Robert Blum of Lytham Partners. Luna Innovations specializes in advanced fiber optic technology, providing solutions for telecommunications, aerospace, and automotive industries.
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