Luna Innovations, Inc. · OTC:LUNA
Luna Innovations — Q3 2023 Earnings Presentation
15 slides from Luna Innovations's earnings presentation, Nov 14, 2023
Slide 1: Third Quarter 2023 Results Investor Supplemental Materials
Third Quarter 2023 Results Investor Supplemental Materials Luna Innovations Incorporated © 1 November 14, 2023
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: Speakers
Speakers Luna Innovations Incorporated © 3 Scott Graeff President & Chief Executive Officer Brian Soller Chief Technology Officer & EVP, Corporate Development George Gomez-Quintero Chief Financial Officer & EVP, Finance
Slide 4: Why Luna? Our investment thesis
Why Luna? Our investment thesis Luna Innovations Incorporated © 4 Enabling the future with fiber Proprietary measurement technology, offering unparalleled combination of resolution, accuracy and speed Customers in large, growing markets: Infrastructure, Energy, Defense, Communications, Automotive &
Slide 5: Third Quarter FY2023 Results
Third Quarter FY2023 Results Luna Innovations Incorporated © 5
Slide 6: Third Quarter 2023: Key Financial Results
Third Quarter 2023: Key Financial Results • Revenue of $30.7M; up 5% year over year • Gross margin of 57%, compared to 58% for the prior year • Net income of $0.5M, compared to net income of $1.2M for the prior year • Adjusted EBITDA1 of $4.2M, compared to $4.5M for the prior year • Adjusted EPS1 of
Slide 7: Third Quarter 2023 and Recent Highlights
Third Quarter 2023 and Recent Highlights • Named George Gomez-Quintero as Chief Financial Officer • Awarded a multi-year service contract for system deployed on the largest fiber-optic monitoring solution ever installed • Secured multiple sales of seismic monitoring DAS instruments to American seism
Slide 8: Revenue has been driven by strong organic growth, supplemented by efficient M&A
Revenue has been driven by strong organic growth, supplemented by efficient M&A Luna Innovations Incorporated © 8 1Results exclude Luna Labs Revenue1 (millions) 2023 guidance: $120M - $125M
Slide 9: We have delivered solid AEBITDA, while internally funding many initiatives
We have delivered solid AEBITDA, while internally funding many initiatives Luna Innovations Incorporated © 9 1Results exclude Luna Labs 2 Adj EBITDA is a non-GAAP measure. Reconciliation of comparable GAAP measures to non-GAAP measures are included in this presentation. FY23 guidance: $14M - $18M Ad
Slide 10: Balance Sheet
Balance Sheet • Balance sheet on September 30, 2023: – $165.1M in total assets o $6.0M in cash and cash equivalents o $65.2M in working capital • Total debt of $31.9M outstanding Luna Innovations Incorporated © 10
Slide 11: 2023 Guidance
2023 Guidance1 Luna Innovations Incorporated © 11 Full-year total revenue $120M - $125M Full-year adjusted EBITDA $14M - $18M 1 The outlook above does not include any future acquisitions, divestitures or unanticipated events..
Slide 12: Appendix
Appendix Luna Innovations Incorporated © 12
Slide 13: Reconciliation of Net Income/(Loss) to Adjusted EBITDA
Reconciliation of Net Income/(Loss) to Adjusted EBITDA Luna Innovations Incorporated © 13 AP PE N D IX 1 Other non-recurring charges primarily include facility consolidation, one-time insurance deductible, etc. (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022
Slide 14: Reconciliation of Net Income/(Loss) to Adjusted EPS
Reconciliation of Net Income/(Loss) to Adjusted EPS Luna Innovations Incorporated © 14 AP PE N D IX 1 Other non-recurring charges primarily include facility consolidation, insurance one-time deductible, etc. (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 20
Slide 15: Historical Quarterly Results
Historical Quarterly Results Luna Innovations Incorporated © 15 AP PE N D IX (in thousands) Three months ended September 30, 2022 December 31, 2022 March 31, 2023 June 30, 2023 September 30, 2023 Revenue $ 29,153 $ 31,702 $ 25,045 $ 29,164 $ 30,703 Cost of revenue 12,234 12,367 10,072 12,299 13,074