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Luna Innovations Inc (LUNA) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

LUNA Quarterly Reports

Luna Innovations Inc

CIK: 1239819 Ticker: LUNA


Exhibit 99.1

lunalogorgba10a.jpg

Luna Innovations Reports First-Quarter 2022 Results
Reaffirms 2022 Outlook

Highlights
Total revenues of $22.5 million for the three months ended March 31, 2022, up 7% compared to the three months ended March 31, 2021
Gross margin of 64% for the three months ended March 31, 2022, compared to 58% for the three months ended March 31, 2021
Operating loss of $2.4 million for the three months ended March 31, 2022, compared to operating loss of $1.6 million for the three months ended March 31, 2021
Net income of $9.6 million for the three months ended March 31, 2022, which includes the gain on sale of Luna Labs, compared to net loss of $0.3 million for the three months ended March 31, 2021
Adjusted EBITDA of $1.7 million for the three months ended March 31, 2022, compared to $1.3 million for the three months ended March 31, 2021
Adjusted EPS of $0.05 for the three months ended March 31, 2022, compared to $0.03 for the three months ended March 31, 2021

(ROANOKE, VA, May 16, 2022) - Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced optical technology, today announced its financial results for the three months ended March 31, 2022. The first-quarter 2022 results include two weeks of Lios, Luna's newest acquisition.

"I'm very pleased with our first-quarter performance as the Luna team delivered a solid start to 2022," said Scott Graeff, President and Chief Executive Officer of Luna. "We surpassed the top end of the Q1 revenue guidance we provided in March, while completing significant events including the divestiture of Luna Labs, the acquisition of Lios and the complete absorption of OptaSense into our operations. And, as always, the Luna team is laser-focused on executing against our strategy. During the past year, you've seen us make some strategic moves to refresh our product lines and broaden our IP. We've done this to leverage and incorporate the best of our organic portfolio with cutting-edge technology and products from recent acquisitions to create highly competitive product offerings."



The following information was filed by Luna Innovations Inc (LUNA) on Monday, May 16, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Luna Innovations Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Luna Innovations Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets (Parenthetical)
Consolidated Balance Sheets (Unaudited)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Stockholders' Equity (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Operations (Unaudited)
Consolidated Statements Of Operations (Unaudited) (Parenthetical)
Accrued Liabilities
Accrued Liabilities (Details)
Accrued Liabilities (Tables)
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (Details)
Basis Of Presentation And Significant Accounting Policies (Policies)
Business Acquisitions
Business Acquisitions (Tables)
Business Acquisitions - Additional Information (Details)
Business Acquisitions - Allocation Of Purchase Consideration (Details)
Business Acquisitions - Schedule Of Preliminary Identifiable Intangible Assets Acquired (Details)
Capital Stock And Share-Based Compensation
Capital Stock And Share-Based Compensation - Additional Information (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Long Term Debt (Details)
Debt - Maturities (Details)
Goodwill
Goodwill (Details)
Goodwill (Tables)
Income Taxes
Income Taxes (Details)
Intangible Assets, Net
Intangible Assets, Net (Tables)
Intangible Assets, Net - Additional Information (Details)
Intangible Assets, Net - Estimated Aggregate Amortization (Details)
Intangible Assets, Net - Summary Of Intangible Assets (Details)
Inventory
Inventory (Details)
Inventory (Tables)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Future Operating And Finance Lease Payments (Details)
Leases - Other Lease Information (Details)
Leases - Rent Expense (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Contract Balances (Details)
Revenue Recognition - Performance Obligation Amount (Details)
Revenue Recognition - Schedule Of Disaggregation Of Revenue (Details)
Sale Of Discontinued Operations
Sale Of Discontinued Operations (Tables)
Sale Of Discontinued Operations - Additional Information (Details)
Sale Of Discontinued Operations - Assets And Liabilities Held For Sale (Details)
Sale Of Discontinued Operations - Cash Flow And Non-Cash Information (Details)
Sale Of Discontinued Operations - Discontinued Operations Related To Luna Lab Segment (Details)

Material Contracts, Statements, Certifications & more

Luna Innovations Inc provided additional information to their SEC Filing as exhibits

Ticker: LUNA
CIK: 1239819
Form Type: 10-Q Quarterly Report
Accession Number: 0001239819-22-000079
Submitted to the SEC: Mon May 16 2022 4:53:32 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Commercial Physical And Biological Research

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