Luna Innovations Inc Stock Price, News & Analysis

Luna Innovations Incorporated has secured a new $35 million debt facility from PNC Bank. This facility comprises a $20 million term loan and a $15 million revolving credit line. Both loans carry an interest rate of SOFR plus 10 basis points, with a margin based on the net leverage ratio. CEO Scott Graeff expressed satisfaction with the renewed partnership with PNC, highlighting that this funding will provide flexibility for future growth.

Luna Innovations Incorporated (NASDAQ: LUNA) announced that President and CEO Scott Graeff will attend the 12th Annual East Coast IDEAS Conference on Thursday, June 22, 2022. His presentation will be accessible starting at 6:00 a.m. ET on the conference website. Additionally, a webcast of the presentation will be available on Luna's investor relations page. The company is a leader in fiber optic technology, providing high-performance test products for the telecommunications industry and innovative sensing solutions across various sectors.

Luna Innovations Incorporated (NASDAQ: LUNA) will participate in the B. Riley Securities 22nd Annual Institutional Conference on May 25-26, 2022, at the Beverly Hilton, Beverly Hills, California. CEO Scott Graeff is set to present on May 25 at 3:00 p.m. PT, alongside COO Brian Soller, who will host one-on-one meetings with investors. The event assembles over 200 companies and aims to connect executives with more than 1,000 attendees. Interested parties can request further information or schedule meetings via email.

Luna Innovations Incorporated (NASDAQ: LUNA) reported a 7% increase in revenues to $22.5 million for Q1 2022, compared to $20.997 million in Q1 2021. The gross margin improved to 64% from 58%. Despite these gains, the company experienced an operating loss of $2.4 million, compared to a loss of $1.6 million in the previous year. Notably, net income was $9.6 million, significantly up from a net loss of $0.3 million last year, aided by a gain from the sale of Luna Labs. The company confirmed its 2022 revenue outlook of $109 million to $115 million.

Luna Innovations Incorporated (NASDAQ: LUNA) has secured a significant multi-unit purchase order for its OBR 6200 portable backscatter reflectometer from Lockheed Martin. This deal is part of a long-term partnership focused on supporting the global fleet of F-35 aircraft. The $6.2 million contract aims to enhance Luna's revenue through advanced optical measurement technologies, demonstrating growth opportunities in the defense and aerospace sectors, projected to reach $1.1 trillion by 2026.

Luna Innovations Incorporated (NASDAQ: LUNA) will report its first-quarter financial results on May 16, 2022, before the market opens. The announcement will be followed by a conference call featuring key executives, including Scott Graeff, Gene Nestro, and Brian Soller, at 8:30 a.m. Eastern. Investors can access the call via live webcast on Luna’s website or by telephone using the provided dial-in numbers. The company specializes in optical technology and aims to expedite the introduction of innovative technologies across various industries.

Luna Innovations (NASDAQ: LUNA) reported strong financial results for Q4 and the full year 2021, with revenues of $24.2 million in Q4, a 26% increase from 2020. The company achieved a gross margin of 58% and net income of $1.6 million, reversing a loss from the previous year. Operating income rose to $1 million, and adjusted EPS improved to $0.08. For 2022, Luna forecasts revenue between $109 million and $115 million, driven by recent acquisitions and ongoing growth in fiber optic technology.

Luna Innovations has acquired LIOS Sensing, a unit of NKT Photonics, for €20 million (approximately $22 million). This strategic move enhances Luna's portfolio in distributed temperature and strain sensing technologies, positioning it as a global leader in fiber sensing solutions. The acquisition expands Luna's customer base, intellectual property, and market opportunities in high-growth sectors, while reinforcing its international presence. LIOS will continue to operate under its brand, maintaining its workforce in Germany and the U.S.