Luna Innovations, Inc. · OTC:LUNA
Luna Innovations — Q4 2021 Earnings Presentation
20 slides from Luna Innovations's earnings presentation, Mar 14, 2022
Slide 1: Fourth-Quarter and Full-Year 2021 Results Investor Supplemental Materials
Fourth-Quarter and Full-Year 2021 Results Investor Supplemental Materials March 14, 2022
Slide 2: Safe Harbor Statement
NASDAQ: LUNA Luna Innovations Incorporated© 2022 2 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 Li
Slide 3: Fourth-Quarter and Full-Year FY21 Results
Fourth-Quarter and Full-Year FY21 Results
Slide 4: Fourth-Quarter 2021: Key Financial Results
NASDAQ: LUNA Luna Innovations Incorporated© 2022 4 Fourth-Quarter 2021: Key Financial Results Revenues of $24.2M; up 26% year-over-year Reminder – As of Q3 Luna Labs became classified as discontinued operations • Luna is a pure play in fiber optic technology Gross margin of 58%, compared to 61% fo
Slide 5: Fourth-quarter 2021: Highlights
NASDAQ: LUNA Luna Innovations Incorporated© 2022 5 Fourth-quarter 2021: Highlights Robust demand drove record bookings and revenue 26% YoY revenue growth driven by strong demand for sensing solutions Sensing segment growth driven by successful delivery of multiple large projects 64% YoY revenue
Slide 6: Fourth-quarter 2021: Highlights (continued)
NASDAQ: LUNA Luna Innovations Incorporated© 2022 6 Fourth-quarter 2021: Highlights (continued) Record bookings and significant, new strategic wins in Q4 for Terahertz sensing products Industrial adhesives and automotive EV and tire manufacturing applications Communications test segment highlights
Slide 7: Full-Year 2021: Key Financial Results
NASDAQ: LUNA Luna Innovations Incorporated© 2022 7 Full-Year 2021: Key Financial Results Revenues of $87.5M; up 48% year-over-year Gross Margin of 59%, compared to 61% for the prior-year period Slight margin compression as expected, resulting from early stages of integrating acquisitions; future s
Slide 8: Full-Year 2021: Highlights and Accomplishments
NASDAQ: LUNA Luna Innovations Incorporated© 2022 8 Full-Year 2021: Highlights and Accomplishments Significant customer successes; strong ongoing pipeline of opportunities Large orders from blue-chip customers for sensing (ODiSI), comms test (OBR 6200) and process control (Terahertz) products Con
Slide 9: Strong Financial Results
NASDAQ: LUNA Luna Innovations Incorporated© 2022 9 $4.0 $7.6 FY19 FY20 FY21 Adjusted EBITDA1,2 (millions) $49.1 $87.5 FY19 FY20 FY21 Revenue1 (millions) $59.1 Strong Financial Results 1 Results shown include the reclassification of Luna Labs to Discontinued Operations. 2 Adj EBITDA is a non-GAAP mea
Slide 10: A Flexible Balance Sheet
NASDAQ: LUNA Luna Innovations Incorporated© 2022 10 A Flexible Balance Sheet Strong balance sheet on December 31, 2021: $130.2M in total assets • $17.1M in cash and cash equivalents • $49.8M in working capital Total debt of $15.8M outstanding $8.3M in term debt $7.5M drawn on revolver • $7.5M
Slide 11: Subsequent Events
Subsequent Events
Slide 12: Divestiture of Luna Labs
NASDAQ: LUNA Luna Innovations Incorporated© 2022 12 Divestiture of Luna Labs Luna has closed on the divestiture of its Luna Labs business Luna Labs was moved to Discontinued Operations in Q3 2021 Luna is now a pure play in fiber optic technology; Lightwave = Luna Luna Labs leveraged third-party
Slide 13: Acquisition of LIOS Sensing
NASDAQ: LUNA Luna Innovations Incorporated© 2022 13 Acquisition of LIOS Sensing Acquired LIOS Sensing, a leader in distributed fiber optic monitoring solutions LIOS adds Distributed Temperature and Strain Sensing (“DTS/DSS”) to Luna’s market leading portfolio With this addition, Luna now has all m
Slide 14: 2022 Outlook
2022 Outlook
Slide 15: 2022 Financial Outlook
NASDAQ: LUNA Luna Innovations Incorporated© 2022 15 2022 Financial Outlook 2022 outlook reflects both the mid-March sale of Luna Labs and the acquisition of LIOS Sensing and considers the ongoing impact of the pandemic: Full-year total revenue of $109M to $115M Full-year adjusted EBITDA1 of $10M
Slide 16: Luna – Enabling the Future with Fiber
NASDAQ: LUNA Luna Innovations Incorporated© 2022 16 Luna – Enabling the Future with Fiber Positioned as a global fiber optic leader Proprietary measurement technology, offering unprecedented combination of resolution, accuracy and speed Customers in attractive markets: Military and Defense, Communic
Slide 17: Appendix
Appendix
Slide 18: Reconciliation of Net (Loss)/Income to Adjusted EBITDA
NASDAQ: LUNA Luna Innovations Incorporated© 2022 18 Reconciliation of Net (Loss)/Income to Adjusted EBITDA1 1 Results shown include the reclassification of Luna Labs to Discontinued Operations. (in thousands) 2021 2020 2021 2020 Reconciliation of EBITDA and Adjusted EBITDA GAAP net income/(loss) 1,5
Slide 19: Reconciliation of Net (Loss)/Income to Adjusted EPS
NASDAQ: LUNA Luna Innovations Incorporated© 2022 19 Reconciliation of Net (Loss)/Income to Adjusted EPS1 1 Results shown include the reclassification of Luna Labs to Discontinued Operations. 2021 2020 2021 2020 Reconciliation of Net (loss)/Income to Adjusted EPS GAAP net income/(loss) 1,575$ (64)$ 1
Slide 20: Historical Quarterly Results
NASDAQ: LUNA Luna Innovations Incorporated© 2022 20 Historical Quarterly Results1 1 Results shown include the reclassification of Luna Labs to Discontinued Operations. December 31, 2020 March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 Revenues 19,278$ 20,997$ 21,965$ 20,329$ 24,222$