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Luna Innovations Inc - LUNA STOCK NEWS

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

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Luna Innovations's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Luna Innovations's position in the market.

Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.51%
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none
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-35.78%
Tags
earnings
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Rhea-AI Summary
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.
Rhea-AI Impact
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End-of-Day
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conferences
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.76%
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News
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.76%
Tags
acquisition
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.3%
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none
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.23%
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.45%
Tags
earnings
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.69%
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none
Rhea-AI Summary
Luna Innovations Incorporated (NASDAQ: LUNA) will report its Q3 financial results on November 14, 2023. The conference call to discuss the earnings will be hosted by the President, CFO, and CTO. The webcast will be available on the company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.53%
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none
Luna Innovations Inc

Nasdaq:LUNA

LUNA Rankings

LUNA Stock Data

111.20M
23.31M
5.48%
60.52%
5.97%
Research and Development in Biotechnology
Professional, Scientific, and Technical Services
Link
United States
Roanoke

About LUNA

who we are: we are scientists, engineers, and business professionals; developing and manufacturing a new generation of technologies and products for the aerospace, automotive, energy, defense, healthcare, and telecommunications industries. as a result of our merger with advanced photonix, inc. we also package optoelectronic semiconductors into high-speed optical receivers (hsor), customize optoelectronic subsystems, and offer terahertz instrumentation. additionally, we provide applied research services for companies and government-funded projects in areas of sensing, advanced materials, and health sciences. why it matters: our business model is designed to accelerate the process of bringing new and innovative products to market. how we’re structured: we are organized into two main business segments, our products and licensing segment and our technology development segment. our products and licensing segment develops, manufactures and commercializes products to serve our markets’ needs;