Luna Innovations, Inc. · OTC:LUNA
Luna Innovations — Q2 2023 Earnings Presentation
15 slides from Luna Innovations's earnings presentation, Aug 10, 2023
Slide 1: Second-Quarter 2023 Results Investor Supplemental Materials
Second-Quarter 2023 Results Investor Supplemental Materials August 10, 2023
Slide 2: Safe Harbor Statement
Safe Harbor Luna Innovations Incorporated © 2 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 A
Slide 3: Speakers
Speakers Luna Innovations Incorporated © 3 Scott Graeff President & Chief Executive Officer Brian Soller Chief Technology Officer & EVP, Corporate Development Gene Nestro Chief Financial Officer & SVP, 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: Second-Quarter FY23 Results
Second-Quarter FY23 Results Luna Innovations Incorporated © 5
Slide 6: Second-Quarter 2023: Key Financial Results
Second-Quarter 2023: Key Financial Results • Revenues of $29.2M, up 11% year over year • Gross margin of 58%, compared to 61% for the prior year • Net loss of $1.6M, compared to net loss of $2.4M for the prior year • Adjusted EBITDA1 of $2.7M, compared to $1.2M for the prior year • Adjusted EPS1 of
Slide 7: Second-Quarter 2023 and Recent Highlights
Second-Quarter 2023 and Recent Highlights • Recognized significant wins for monitoring systems, including a contract for the largest power utility company in Italy • Secured large, follow-on, multi-unit Terahertz order for EV battery production process monitoring • Drove significant wins in our RIO
Slide 8: Revenue driven by strong organic growth, supplemented by efficient M&A
Revenue has been driven by strong organic growth, supplemented by efficient M&A $59.1 $87.5 $109.0 $54.2 FY20 FY21 FY22 FY23E Revenue1 (millions) Luna Innovations Incorporated © 8 2023 guidance: $125M - $130M 1Results exclude Luna Labs Q3 Guidance
Slide 9: Solid AEBITDA while internally funding many initiatives
We have delivered solid AEBITDA, while internally funding many initiatives $7.9 $7.6 $12.1 $3.6 FY20 FY21 FY22 FY23E Adjusted EBITDA1,2 (millions) Luna Innovations Incorporated © 9 FY23 guidance: $14M to $18M 1Results exclude Luna Labs 2 Adj EBITDA is a non-GAAP measure. Reconciliation of comparable
Slide 10: Balance Sheet
Balance Sheet • Balance sheet on June 30, 2023: – $155.1M in total assets o $3.3M in cash and cash equivalents o $63.8M in working capital • Total debt of $30.7M outstanding Luna Innovations Incorporated © 10
Slide 11: 2023 Guidance
2023 Guidance1 Luna Innovations Incorporated © 11 Full-year total revenue $125M to $130M Full-year adjusted EBITDA $14M to $18M Top-line revenue guidance for Q3 $29M to $32M 1 The outlook above does not include any future acquisitions, divestitures or unanticipated events..
Slide 12: Appendix
Appendix 12Luna Innovations Incorporated ©
Slide 13: Reconciliation of Net (Loss)/Income to Adjusted EBITDA
Reconciliation of Net (Loss)/Income to Adjusted EBITDA Luna Innovations Incorporated © 13 A P P EN D IX 1 Other non-recurring charges primarily include facility consolidation, one-time insurance deductible, etc. (in thousands) 2023 2022 2023 2022 Reconciliation of EBITDA and Adjusted EBITDA GAAP net
Slide 14: Reconciliation of Net (Loss)/Income to Adjusted EPS
Reconciliation of Net (Loss)/Income to Adjusted EPS Luna Innovations Incorporated © 14 A P P EN D IX 1 Other non-recurring charges primarily include facility consolidation, insurance one-time deductible, etc. 2023 2022 2023 2022 Reconciliation of Net (loss)/Income to Adjusted EPS GAAP net income/(lo
Slide 15: Historical Quarterly Results
Historical Quarterly Results Luna Innovations Incorporated © 15 A P P EN D IX June 30, 2022 September 30, 2022 December 31, 2022 March 31, 2023 June 30, 2023 Revenues 26,162$ 29,153$ 31,702$ 25,045$ 29,164$ Cost of revenues 10,199 12,234 12,367 10,072 12,299 Gross profit 15,963 16,919 19,335 14,973