Luna Innovations Incorporated develops, manufactures, and markets fiber optic test, measurement, and control products worldwide. It operates through two segments, Lightwave and Luna Labs. The Lightwave segment offers test and measurement products, which include optical vector analyzer, optical backscatter reflectometers, and the Phoenix family of tunable lasers; and Hyperion sensing solution that enable full-spectrum data acquisition and flexible peak detect algorithms of fiber-bragg grating (FBG), long period FBGs and fabry-perot sensors with low-latency access to data for closed loop feedback applications. This segment also provides polarization control products, including components, modules, and instruments to measure, manage, and control polarization and group delay in fiber optic networks; tunable lasers; Terametrix terahertz gauging and imaging products that provides precise single and multi-layer thickness, density, basis weight, and caliper thickness measurements; ODiSI sensing solution, which provides distributed strain and temperature measurements; and Hyperion sensing products that targets fiber optic sensing applications. The Luna Labs segment provides applied research for customers principally in the areas of sensing and materials, such as coatings, adhesives, composites, and bio-engineered materials. The company sells its products to telecommunications companies, defense agencies, government system integrators, researchers, original equipment manufacturers, distributors, testing labs, and strategic partners directly, as well as through manufacturer representative organizations, partner and distribution channels, technical sales engineers, value added resellers, and independent sales representatives. Luna Innovations Incorporated was incorporated in 1990 and is headquartered in Roanoke, Virginia.
IPO Year: 2006
Exchange: NASDAQ
Website: lunainc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/28/2023 | $12.50 | Buy | Stifel |
| 5/22/2023 | $10.00 | Buy | Needham |
| 3/15/2023 | $8.00 | Outperform → Market Perform | Northland Capital |
| 5/23/2022 | $8.00 | Market Perform → Outperform | Northland Capital |
NT 10-Q - LUNA INNOVATIONS INC (0001239819) (Filer)
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Luna Innovations Incorporated (NASDAQ:LUNA), a global leader in advanced fiber optic-based technology, today announced the appointment of William L. Phelan as its new Chief Financial Officer and Chief Accounting Officer, effective immediately. Mr. Phelan succeeds John Roiko, who joined Luna out of retirement in May 2024 and played a key role in establishing a resilient foundation for Luna's future growth. Following the appointment of Mr. Phelan, Mr. Roiko will shift to a consulting role to support the ongoing restatement process. "We are delighted to welcome Bill to the Luna leadership team," said Kevin Ilcisin, President and CEO of Luna. "Bill's highly relevant experience will be instrume
Luna Innovations Incorporated (NASDAQ:LUNA) (the "Company"), a global leader in advanced fiber optic-based technology, today announced the appointment of Kevin Ilcisin as its new President and Chief Executive Officer, the retirement of Richard Roedel from the Board of Directors (the "Board") after nearly 20 years of service, and the closing of a $15 million junior secured term loan facility (the "Loan Facility"). New President and CEO: Effective August 1, 2024, Mr. Ilcisin will assume his new role as the President, CEO and member of the Board of the Company. Mr. Ilcisin has been a strategic advisor to the Company since April 2024, bringing a wealth of experience, industry knowledge and
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, May 28, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luna Innovations Incorporated (NASDAQ:LUNA) investors that a lawsuit was filed on behalf of investors that purchased Luna securities between May 16, 2022 and April 19, 2024 inclusive (the "Class Period"). Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, May 21, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luna Innovations Incorporated (NASDAQ:LUNA) investors that a lawsuit was filed on behalf of investors that purchased Luna securities between August 11, 2023 and March 25, 2024 inclusive (the "Class Period"). Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, May 13, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luna Innovations Incorporated (NASDAQ:LUNA) investors that a lawsuit was filed on behalf of investors that purchased Luna securities between August 11, 2023 and March 25, 2024 inclusive (the "Class Period"). Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims t
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, May 09, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luna Innovations Incorporated (NASDAQ:LUNA) investors that a lawsuit was filed on behalf of investors that purchased Luna securities between August 11, 2023 and March 25, 2024 inclusive (the "Class Period"). Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claim
Will Denman Joins Luna as Senior Vice President, Sales, North America Matthew Friedman Recently Appointed Vice President, Product Marketing Heather Matzke-Hamlin Joins Luna as Public Accounting Advisor Luna Innovations Incorporated (NASDAQ:LUNA) ("Luna" or the "Company"), a global leader in advanced fiber optic-based technology, today announced the appointment of two new members of its senior leadership team. Will Denman is appointed Senior Vice President, Sales, North America, overseeing the company's customer success and sales operations and strategy, effective May 1, 2024. Prior to joining Luna, Mr. Denman served as Senior Vice President of Global Sales and Marketing for Nationa
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, April 02, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luna Innovations Incorporated (NASDAQ:LUNA) investors that a lawsuit was filed on behalf of investors that purchased Luna securities between August 11, 2023 and March 25, 2024 inclusive (the "Class Period"). Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing
Richard Roedel Named Interim Executive Chairman and Interim President Operations Committee of Board Established Luna Innovations Incorporated (NASDAQ:LUNA) (the "Company"), a global leader in advanced fiber optic-based technology, today announced that Scott Graeff has retired from his role as President and Chief Executive Officer of the Company and has stepped down from the Board of Directors (the "Board"), leaving the Company after 21 years, including the last seven as President and Chief Executive Officer. The Board has initiated a search for a new President and Chief Executive Officer with the support of a leading international search firm. To oversee the Company's operations while
Company reiterates annual guidance Luna Innovations Incorporated (NASDAQ:LUNA), a global leader in advanced fiber optic-based technology, announced that George Gomez-Quintero is joining the company as Chief Financial Officer (CFO) today. Mr. Gomez-Quintero will succeed current CFO Gene Nestro, who has agreed to assist the company through mid-2024 to ensure a smooth transition. Mr. Gomez-Quintero will lead Luna's Finance organization and represent Luna in communications with investors, lenders and rating agencies. As a member of the company's executive team, he will report to President and CEO Scott A. Graeff. "With the completion of our five-year strategic plan and our continued pursuit
Luna Innovations Incorporated (NASDAQ:LUNA) (the "Company"), a global leader in advanced fiber optic-based technology, today announced that it has received a written notice (the "Notice") on November 14, 2024, from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company has not yet filed its Form 10-Q for the quarter ended September 30, 2024 (the "Q3 2024 Form 10-Q") and because the Company remains delinquent in filing its Form 10-Qs for the quarters ended March 31, 2024 (the "Q1 2024 Form 10-Q") and June 30, 2024 (the "Q2 2024 Form 10-Q") and its Form 10-K for the year ended December 31, 2023 (the "2023 Form 10-K", and collectively w
Luna Innovations Incorporated (NASDAQ:LUNA), a global leader in advanced fiber optic-based technology, today announced the appointment of William L. Phelan as its new Chief Financial Officer and Chief Accounting Officer, effective immediately. Mr. Phelan succeeds John Roiko, who joined Luna out of retirement in May 2024 and played a key role in establishing a resilient foundation for Luna's future growth. Following the appointment of Mr. Phelan, Mr. Roiko will shift to a consulting role to support the ongoing restatement process. "We are delighted to welcome Bill to the Luna leadership team," said Kevin Ilcisin, President and CEO of Luna. "Bill's highly relevant experience will be instrume
Luna Innovations Incorporated (NASDAQ:LUNA) (the "Company"), a global leader in advanced fiber optic-based technology, today announced that on October 1, 2024, it received a staff determination letter (the "Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, due to the Company's failure to regain compliance with Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule"), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the "SEC"), Nasdaq has determined (the "Determination") that the Company's securities will be scheduled for delisting from Nasdaq
Luna Innovations Incorporated (NASDAQ:LUNA) (the "Company"), a global leader in advanced fiber optic-based technology, today announced that it has received a written notice (the "Notice") on August 20, 2024, from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company has not yet filed its Form 10-Q for the quarter ended June 30, 2024 (the "Q2 2024 Form 10-Q") and because the Company remains delinquent in filing its Form 10-Q for the quarter ended March 31, 2024 (the "Q1 2024 Form 10-Q") and its Form 10-K for the year ended December 31, 2023 (the "2023 Form 10-K"), it is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule
Luna Innovations Incorporated (NASDAQ:LUNA) (the "Company"), a global leader in advanced fiber optic-based technology, today announced the appointment of Kevin Ilcisin as its new President and Chief Executive Officer, the retirement of Richard Roedel from the Board of Directors (the "Board") after nearly 20 years of service, and the closing of a $15 million junior secured term loan facility (the "Loan Facility"). New President and CEO: Effective August 1, 2024, Mr. Ilcisin will assume his new role as the President, CEO and member of the Board of the Company. Mr. Ilcisin has been a strategic advisor to the Company since April 2024, bringing a wealth of experience, industry knowledge and
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, May 28, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luna Innovations Incorporated (NASDAQ:LUNA) investors that a lawsuit was filed on behalf of investors that purchased Luna securities between May 16, 2022 and April 19, 2024 inclusive (the "Class Period"). Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to
Luna Innovations Incorporated (NASDAQ:LUNA) (the "Company"), a global leader in advanced fiber optic-based technology, today announced that it has received a written notice (the "Notice") on May 17, 2024, from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company has not yet filed its Form 10-Q for the quarter ended March 31, 2024 (the "Form 10-Q") and because the Company remains delinquent in filing its Form 10-K for the year ended December 31, 2023 (the "Form 10-K"), it is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule"), which requires listed companies to timely file all required periodic financial reports with
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, May 21, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luna Innovations Incorporated (NASDAQ:LUNA) investors that a lawsuit was filed on behalf of investors that purchased Luna securities between August 11, 2023 and March 25, 2024 inclusive (the "Class Period"). Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, May 13, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luna Innovations Incorporated (NASDAQ:LUNA) investors that a lawsuit was filed on behalf of investors that purchased Luna securities between August 11, 2023 and March 25, 2024 inclusive (the "Class Period"). Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims t
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, May 09, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luna Innovations Incorporated (NASDAQ:LUNA) investors that a lawsuit was filed on behalf of investors that purchased Luna securities between August 11, 2023 and March 25, 2024 inclusive (the "Class Period"). Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claim
The company also announced the retirement of Richard Roedel from the Board of Directors after nearly 20 years of service, and the closing of a $15 million junior secured term loan facility. Ilcisin succeeds Richard Roedel, who informed the Board on July 12, 2024, that, after nearly 20 years of dedicated service to the Company, he was stepping down as Interim President and Interim Executive Chairman of the Company due to health reasons, effective immediately. On July 16, 2024, Warren B. (Barry) Phelps, III was appointed Chair of the Board of Directors.
In a significant development, Terraform Labs agreed to a civil settlement of $4.47 Billion with the Securities and Exchange Commission after being found guilty of defrauding cryptocurrency investors during the infamous Terra (CRYPTO: LUNA) implosion in 2022. What Happened: A jury found Terraform Labs and its disgraced founder, Do Kwon, guilty of defrauding cryptocurrency investors, according to a Reuters report Wednesday. A proposed final judgment was filed in a Manhattan federal court, awaiting approval by U.S. District Judge Jed Rakoff. The judgment includes $4.05 billion of disgorgement plus interest, and a $420 million civil fine. However, due to Terraform’s bankruptcy filing in Ja
Gainers Strong Global (AMEX:SGE) shares rose 100.8% to $2.29 during Monday's regular session. The market value of their outstanding shares is at $18.0 million. Perficient (NASDAQ:PRFT) stock rose 52.8% to $73.52. The company's market cap stands at $2.5 billion. The company's, Q1 earnings came out today. DatChat (NASDAQ:DATS) stock moved upwards by 26.53% to $1.53. The company's market cap stands at $4.6 million. Upland Software (NASDAQ:UPLD) shares rose 24.27% to $3.22. The market value of their outstanding shares is at $89.6 million. As per the press release, Q1 earnings came out 2 days ago. Marathon Digital Holdings (NASDAQ:MARA) shares increased by 17.07% to $20.51. The market value
Needham analyst Alex Henderson reiterates Luna Innovations (NASDAQ:LUNA) with a Buy and maintains $8 price target.
Gainers Arteris (NASDAQ:AIP) shares increased by 32.0% to $7.83 during Friday's regular session. The company's market cap stands at $300.4 million. As per the news, the Q1 earnings report came out yesterday. Upland Software (NASDAQ:UPLD) stock rose 28.96% to $2.6. The company's market cap stands at $75.1 million. As per the press release, Q1 earnings came out yesterday. Luna Innovations (NASDAQ:LUNA) stock rose 17.77% to $2.65. The market value of their outstanding shares is at $91.9 million. GCT Semiconductor Hldgs (NYSE:GCTS) stock increased by 14.59% to $5.81. The company's market cap stands at $266.2 million. LivePerson (NASDAQ:LPSN) shares moved upwards by 13.73% to $0.64. The mark
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Luna Innovations Incorporated (NASDAQ:LUNA) (the "Company"), a global leader in advanced fiber optic-based technology, today announced that its Audit Committee of the Board of Directors (the "Audit Committee"), after consultation with the Company's management and the Special Committee's external legal and financial advisors, determined that its financial statements for the fiscal year ended December 31, 2022, and the interim periods ended March 31, 2022, June 30, 2022, and September 30, 2022 and March 31, 2023, cannot be relied upon and need to be restated due to identified accounting errors relating to revenue recognition. Similarly, any previously issued or filed reports, press releases, e
Stifel initiated coverage of Luna Innovations with a rating of Buy and set a new price target of $12.50
Needham initiated coverage of Luna Innovations with a rating of Buy and set a new price target of $10.00
Northland Capital downgraded Luna Innovations from Outperform to Market Perform and set a new price target of $8.00
Northland Capital upgraded Luna Innovations from Market Perform to Outperform and set a new price target of $8.00
B. Riley resumed coverage of Luna Innovations with a rating of Buy and set a new price target of $14.50 from $12.50 previously
Luna Innovations Incorporated (NASDAQ:LUNA) (the "Company"), a global leader in advanced fiber optic-based technology, today announced it will delay the release of its fourth quarter and fiscal year 2023 financial results and the subsequent conference call. A Special Committee of the Company's Board of Directors is conducting an independent review, with the assistance of external legal and financial advisors, of certain transactions for which revenue was recognized in the second and third quarters of 2023 that did not qualify for revenue recognition under U.S. generally accepted accounting principles. The Special Committee is examining the circumstances surrounding these issues and is eva
Investment Proceeds Used to Fund Silixa Acquisition and Enhance Luna's Financial Flexibility to Pursue Strategic Growth Initiatives Luna Innovations Incorporated (NASDAQ:LUNA), a global leader in advanced fiber optic-based technology, today announced a $50 million investment by White Hat Capital Partners ("White Hat"), an investment firm focused on sustainable value creation in technology companies serving mission-critical applications. Proceeds from this strategic investment were partially used to fund the acquisition of Silixa, also announced today, and related transaction costs in the aggregate amount of approximately $25 million. Remaining proceeds were used to repay the Company's o
Strengthens Portfolio of Distributed Fiber Optic Sensing Solutions Adds Significant New Growth Markets and Applications and Further Expands Global Footprint Conference Call Scheduled for Today, December 21st, at 11:00 AM ET Luna Innovations Incorporated (NASDAQ:LUNA), a global leader in advanced fiber optic-based technology, today announced the strategic acquisition of Silixa, a UK-based leader in distributed fiber optic sensing solutions. The acquisition further propels Luna's position in the fiber optic sensing market, adding capabilities in distributed acoustic sensing (DAS), distributed temperature sensing (DTS) and distributed strain sensing (DSS) that offer enhanced performance
Q3 Highlights Total revenue of $30.7 million, up 5% year over year Gross margin of 57%, compared to 58% for the prior year Net income of $0.5 million, compared to net income of $1.2 million for the prior year Adjusted EBITDA of $4.2 million, compared to $4.5 million for the prior year Adjusted EPS of $0.07, compared to $0.09 for the prior year Luna Innovations Incorporated (NASDAQ:LUNA), a global leader in advanced optical technology, today announced its financial results for the three and nine months ended September 30, 2023. "We delivered solid performance this quarter in spite of continued macroeconomic headwinds," said Scott Graeff, President and Chief Executive Offi
Roanoke, VA, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Luna Innovations Incorporated (NASDAQ:LUNA) announced today it will report its third-quarter financial results for the period ended September 30, 2023, before the open of the stock market on Tuesday, November 14, 2023. Following the release, Scott Graeff, President and Chief Executive Officer; George Gomez-Quintero, Chief Financial Officer; and Brian Soller, Chief Technology Officer will host a conference call at 8:30 a.m. Eastern to discuss the third-quarter 2023 earnings results. The investor conference call will be available via live webcast on the Luna website at www.lunainc.com under the tab "Investor Relations." To participate by tele
Reaffirms Full-Year 2023 Outlook Q2 Highlights Total revenues of $29.2 million, up 11% year over year Gross margin of 58%, compared to 61% for the prior year Net loss of $1.6 million, compared to net loss of $2.4 million for the prior year Adjusted EBITDA of $2.7 million, compared to $1.2 million for the prior year Adjusted EPS of $0.04, compared to $(0.02) for the prior year Luna Innovations Incorporated (NASDAQ:LUNA), a global leader in advanced optical technology, today announced its financial results for the three and six months ended June 30, 2023. "We continue to see abundant opportunities for Luna's capabilities and are particularly pleased this quarter with str
Roanoke, VA, July 31, 2023 (GLOBE NEWSWIRE) -- Luna Innovations Incorporated (NASDAQ:LUNA) announced today it will report its second-quarter financial results for the period ended June 30, 2023, at the close of the stock market on Thursday, August 10, 2023. Following the release, Scott Graeff, President and Chief Executive Officer; Gene Nestro, Chief Financial Officer; and Brian Soller, Chief Technology Officer will host a conference call at 5:00 p.m. Eastern to discuss the second-quarter 2023 earnings results. The investor conference call will be available via live webcast on the Luna website at www.lunainc.com under the tab "Investor Relations." To participate by telephone, the domestic
Reaffirms Full-Year 2023 Outlook Q1 Highlights Total revenues of $25.0 million, up 11% year over year Total revenues in constant currency of $25.3 million; up 13% year-over-year Gross margin of 60%, compared to 64% for the prior year Net loss of $1.8 million, compared to net income of $9.6 million for the prior year, which included the gain on sale of Luna Labs Adjusted EBITDA of $0.9 million, compared to $1.7 million for the prior year Adjusted EPS of $0.00, compared to $0.05 for the prior year Luna Innovations Incorporated (NASDAQ:LUNA), a global leader in advanced optical technology, today announced its financial results for the three months ended March 31, 2023.
Roanoke, VA, April 28, 2023 (GLOBE NEWSWIRE) -- Luna Innovations Incorporated (NASDAQ:LUNA) announced today it will report its first-quarter financial results for the period ended March 31, 2023, before the open of the stock market on Tuesday, May 9, 2023. Following the release, Scott Graeff, President and Chief Executive Officer; Gene Nestro, Chief Financial Officer; and Brian Soller, Chief Technology Officer will host a conference call at 8:00 a.m. Eastern to discuss the first-quarter 2023 earnings results. The investor conference call will be available via live webcast on the Luna website at www.lunainc.com under the tab "Investor Relations." To participate by telephone, the dome
Provides 2023 Guidance Q4 Financial Highlights Revenues of $31.7 million, up 31% year over year Revenues in constant currency of $32.5 million; up 34% year over year Gross margin of 61%, compared to 58% for the prior year Net income of $0.9 million, compared to net income of $1.6 million for the prior year Adjusted EBITDA of $4.7 million, compared to $3.1 million for the prior year Adjusted EPS of $0.08, compared to $0.08 for the prior year Full-Year Financial Highlights Revenues of $109.5 million, up 25% year over year Revenues in constant currency of $111.9 million; up 28% year over year Gross margin of 61%, compared to 59% for the prior year Net income of $9.3