Luna Innovations, Inc. · OTC:LUNA
Luna Innovations — FY2019 Earnings Presentation
15 slides from Luna Innovations's earnings presentation, Mar 5, 2020
Slide 1: Fourth-Quarter and Year-End Fiscal 2019 Earnings Investor Supplemental Materials
Fourth-Quarter and Year-End Fiscal 2019 Earnings Investor Supplemental Materials March 5, 2020
Slide 2: Safe Harbor
Safe Harbor Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This presentation includes information that constitutes “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and
Slide 3: 4Q & Full-Year FY19 Results
4Q & Full-Year FY19 Results
Slide 4: Fourth-Quarter 2019: Financial Results
Fourth-Quarter 2019: Financial Results Strong financial performance: . Ninth consecutive quarter of year-over-year, double-digit revenue growth from continuing operations . $1.7M improvement in Adjusted EBITDA year-over-year Total revenues of $19.5M; up 44% year-over-year: . Products and licensing r
Slide 5: Full-Year 2019: Financial Results
Full-Year 2019: Financial Results Strong financial performance: . Second full fiscal year of year-over-year, double-digit revenue growth from continuing operations . Nearly $6.4M improvement in Adjusted EBITDA year-over-year, representing 201% growth Total revenues of $70.5M; up 64% year-over-year:
Slide 6: Fiscal 2019 Accomplishments
Fiscal 2019 Accomplishments Acquired General Photonics, leader in characterization and control of light for photonics applications Received large purchase order for tunable lasers from industry-leading robotics company Named 2019 Innovator of the Year by the Roanoke-Blacksburg Technology Council Lau
Slide 7: Strong 2019 Fiscal Year Financial Results
Strong 2019 Fiscal Year Financial Results Revenue1 Adjusted EBITDA1, 2 (millions) (millions) FY19 Actual FY19 Actual $70.5 $9.5M 11/5/19 11/5/19 Guidance: guidance: $69M-$70M $8.2M-$8.6M $42.9 $3.1 $33.1 $29.6 $26.6 $0.3 ($1.0) ($2.0) FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 1 Based on mana
Slide 8: A Flexible Balance Sheet and Strong Cash Position
A Flexible Balance Sheet and Strong Cash Position Balance sheet on December 31, 2019: . $86.5M in total assets • $25.0M in cash and cash equivalents • $41.1M in working capital Continued focus on working capital and reinvestment in business in order to generate long-term sustainable growth NASDAQ: L
Slide 9: 2020 Financial Outlook
2020 Financial Outlook
Slide 10: 2020 Financial Outlook
2020 Financial Outlook Issuing FY2020 outlook: . Total revenues of $81M to $84M . Adjusted EBITDA of $10M to $12M1 1Adj EBITDA is a non-GAAP measure. Reconciliation of comparable GAAP measures to non-GAAP measures are included in the appendix to this presentation. The outlook above does not include
Slide 11: Why Invest in Luna?
Why Invest in Luna? Proprietary, measurement technology, offering unprecedented combination of resolution, accuracy and speed Customers in attractive markets: Aerospace, Automotive, Communications, Energy and Defense Positioned to take advantage of trends such as vehicle light-weighting and increasi
Slide 12: Appendix
Appendix
Slide 13: Pro-forma Luna Financials, Adjusted for Divestiture and Acquisitions
Pro-forma Luna Financials, Adjusted for the sale of Optoelectronics and the Acquisitions of Micron Optics and General Photonics (in thousands) Three Months Ended1 December 31, 2018 2 March 31, 2019 3 June 20, 2019 September 30, 2019 December 31, 2019 Revenues: Products and licensing $ 11,345 $ 10,22
Slide 14: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Three Months Ended Twelve Months Ended December 31, December 31, 2019 2018 2019 2018 (Unaudited) (Unaudited) Reconciliation of EBIT, EBITDA and Adjusted EBITDA Net income $ 2,146 $ 940 $ 5,343 $ 11,004 Less: income from discontinued operations, net of
Slide 15: Reconciliation of Net Income to Adjusted EBITDA: Full Fiscal Year
Reconciliation of Net Income to Adjusted EBITDA: Full Fiscal Year Year Ended December 31, (unaudited) 2017 2018 2019 Reconciliation of EBITDA and Adjusted EBITDA Net income $ 14,615 $ 11,004 $ 5,343 Less: income from discontinued operations, net of income taxes 15,866 9,766 - Net income from continu