Luna Innovations Incorporated (OTC:LUNA) (the "Company"), a global leader in advanced fiber optic-based technology, is pleased to announce the appointment of Baker Tilly US LLP ("Baker Tilly"), as its independent accounting firm, effective as of March 20, 2025. This follows the previously disclosed resignation of Ernst & Young LLP, as reported in the Company's February 2025 SEC filing.

The Audit Committee of the Company's Board of Directors has engaged Baker Tilly to audit the Company's consolidated financial statements for the fiscal years ending December 31, 2023 and 2024. In addition, Baker Tilly will conduct reviews of the Company's unaudited condensed consolidated quarterly financial results.

"We are pleased to welcome Baker Tilly as our new independent auditor", said Kevin Ilcisin, the Company's President and CEO. "We believe this engagement will strengthen our financial oversight and support our strategic vision of enabling the future with fiber."

About Luna

Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high-performance, fiber optic-based, test products for the telecommunications industry and distributed fiber optic-based sensing for a multitude of industries. The Company's business model is designed to accelerate the process of bringing new and innovative technologies to market.

Forward-Looking Statements

The statements in this release that are not historical facts constitute "forward-looking statements". These statements include, but are not limited to, statements made in the President and Chief Executive Officer's quotes regarding the Company's expected and future financial and operational results. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results, performance, and/or achievements of the Company may differ materially from the future results, performance, and/or achievements expressed or implied by these forward-looking statements because of a number of factors. The statements made in this release are based on information available to the Company as of the date of this release and the Company undertakes no obligation to update any of the forward-looking statements after the date of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250402176973/en/

Investor Contact:

Allison Woody

Luna Innovations Incorporated

Phone: 540.769.8465

Email: woodya@lunainc.com

Luna Innovations Announces Baker Tilly as New Independent Auditor