Luna Innovations, Inc. · OTC:LUNA
Luna Innovations — Q1 2023 Earnings Presentation
16 slides from Luna Innovations's earnings presentation, May 9, 2023
Slide 1: First-Quarter 2023 Results Investor Supplemental Materials
First-Quarter 2023 Results Investor Supplemental Materials May 9, 2023
Slide 2: Safe Harbor Statement
NASDAQ: LUNA Luna Innovations Incorporated© 2023 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: Speakers
NASDAQ: LUNA Luna Innovations Incorporated© 2023 3 Speakers Scott Graeff President & Chief Executive Officer Brian Soller Chief Technology Officer & EVP, Corporate Development Gene Nestro Chief Financial Officer & SVP, Finance
Slide 4: First-Quarter FY23 Results
First-Quarter FY23 Results
Slide 5: First-Quarter 2023: Key Financial Results
NASDAQ: LUNA Luna Innovations Incorporated© 2023 5 First-Quarter 2023: Key Financial Results Revenues of $25.0M; up 11% year over year $25.3M in constant currency; up 13% Gross margin of 60%, compared to 64% for the prior year Net loss of $1.8M, compared to net income of $9.6M for the prior year,
Slide 6: First-Quarter 2023 and Recent Highlights
NASDAQ: LUNA Luna Innovations Incorporated© 2023 6 First-Quarter 2023 and Recent Highlights Realized strong, double-digit revenue growth for communications test and Terahertz product lines Announced a significant contract to provide temperature, depth and acoustic monitoring for an innovative power
Slide 7: Strong Financial Results
NASDAQ: LUNA Luna Innovations Incorporated© 2023 7 $7.9 $12.1 $0.9 FY20 FY21 FY22 FY23 Adjusted EBITDA1,3 (millions) $59.1 $111.9 $25.3 $22.5FY20 FY21 FY22 FY23 Revenue1,2 (millions) $87.5 Q2 Guidance Strong Financial Results FY23 Guidance: $125M - $130M FY23 Guidance: $14M to $18M $7.6 1 Reminder:
Slide 8: Balance Sheet
NASDAQ: LUNA Luna Innovations Incorporated© 2023 8 Balance Sheet Balance sheet on March 31, 2023: $152.1M in total assets • $3.6M in cash and cash equivalents • $57.3M in working capital Total debt of $25.2M outstanding All investments over the past five years – in both business and in M&A – have
Slide 9: 2023 Outlook
2023 Outlook
Slide 10: Q2 and Full-Year Guidance
NASDAQ: LUNA Luna Innovations Incorporated© 2023 10 Q2 and Full-Year Guidance Reaffirm guidance: Full-year total revenue of $125M to $130M Full-year adjusted EBITDA1 of $14M to $18M Q2 guidance: Revenue of $29M to $31M 1 Adj EBITDA is a non-GAAP measure. Reconciliation of comparable GAAP measu
Slide 11: Luna – Enabling the Future with Fiber
NASDAQ: LUNA Luna Innovations Incorporated© 2023 11 Luna – Enabling the Future with Fiber Positioned as a global fiber optic leader Proprietary fiber-optic based measurement technology, offering unprecedented combination of performance and economics Customers in attractive markets: Defense, Communic
Slide 12: Appendix
Appendix
Slide 13: Reconciliation of Net (Loss)/Income to Adjusted EBITDA
NASDAQ: LUNA Luna Innovations Incorporated© 2023 13 Reconciliation of Net (Loss)/Income to Adjusted EBITDA1 1 Results shown include the reclassification of Luna Labs to Discontinued Operations. 2 Other non-recurring charges primarily include facility consolidation, one-time insurance deductible, etc
Slide 14: Reconciliation of Net (Loss)/Income to Adjusted EPS
NASDAQ: LUNA Luna Innovations Incorporated© 2023 14 Reconciliation of Net (Loss)/Income to Adjusted EPS1 1 Results shown include the reclassification of Luna Labs to Discontinued Operations. 2 Other non-recurring charges primarily include facility consolidation, insurance one-time deductible, etc. 2
Slide 15: Reconciliation of Revenues to Constant Currency Revenues
NASDAQ: LUNA Luna Innovations Incorporated© 2023 15 Reconciliation of Revenues to Constant Currency Revenues 2023 Reconciliation of Revenues to Constant Currency Revenues GAAP Revenue 25,045$ Effect of Foreign Exchange 256 Constant Currency Revenues 25,301$ Three Months March 31, (Unaudited) (in tho
Slide 16: Historical Quarterly Results
NASDAQ: LUNA Luna Innovations Incorporated© 2023 16 Historical Quarterly Results1 1 Results shown include the reclassification of Luna Labs to Discontinued Operations. March 31, 2022 June 30, 2022 September 30, 2022 December 31, 2022 March 31, 2023 Revenues 22,481$ 26,162$ 29,153$ 31,702$ 25,045$ Co