Luna Innovations, Inc. · OTC:LUNA
Luna Innovations — Q1 2021 Earnings Presentation
13 slides from Luna Innovations's earnings presentation, May 17, 2021
Slide 1: First-quarter 2021 Results Investor Supplemental Materials
First-quarter 2021 Results Investor Supplemental Materials May 17th, 2021
Slide 2: Safe Harbor
NASDAQ: LUNA Luna Innovations Incorporated© 2021 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: 1Q FY21 Results
1Q FY21 Results
Slide 4: First-quarter 2021: Key Financial Results
NASDAQ: LUNA Luna Innovations Incorporated© 2021 4 First-quarter 2021: Key Financial Results Total revenues of $26.3M; up 53% year-over-year Lightwave revenue of $21.0M, up 82% year-over-year Luna Labs revenue of $5.3M, down 5% year-over-year Gross Margin increased to 51%, compared to 49% for th
Slide 5: First-quarter 2021 Highlights
NASDAQ: LUNA Luna Innovations Incorporated© 2021 5 First-quarter 2021 Highlights Total Lightwave revenues up >80% Legacy Lightwave revenues increased double-digit vs. prior-year quarter Traction and customer orders remain strong: Large ODiSi (sensing product) order from defense contractor Key
Slide 6: Strong Financial Results
NASDAQ: LUNA Luna Innovations Incorporated© 2021 6 $0.3 $9.5 $2.1 FY17 FY18 FY19 FY20 FY21 Adjusted EBITDA1 (millions) $3.1 $33.1 $42.9 $70.5 $26.3 FY17 FY18 FY19 FY20 FY21 Revenue (millions) $82.7 Strong Financial Results 1 Adj EBITDA is a non-GAAP measure. Reconciliation of comparable GAAP measure
Slide 7: A Flexible Balance Sheet
NASDAQ: LUNA Luna Innovations Incorporated© 2021 7 A Flexible Balance Sheet Strong balance sheet on March 31, 2021: $129.1M in total assets • $11.8M in cash and cash equivalents • $47.3M in working capital Total debt of $18.9M outstanding $11.4M in term debt $7.5M drawn on revolver • $7.5M ava
Slide 8: 2021 Financial Outlook
NASDAQ: LUNA Luna Innovations Incorporated© 2021 8 2021 Financial Outlook Reaffirming FY 2021 outlook: Total revenues of $122M to $127M Adjusted EBITDA1 of $16M to $19M Continue to forecast revenue split 44%-46% First 6 Months / 56%-54% Second 6 Months 1 Adj EBITDA is a non-GAAP measure. Reconci
Slide 9: Luna – Enabling the Future with Fiber
NASDAQ: LUNA Luna Innovations Incorporated© 2021 9 Luna – Enabling the Future with Fiber Positioned as a global fiber optic leader Proprietary measurement technology, offering unprecedented combination of resolution, accuracy and speed Customers in attractive markets: Military and Defense, Communica
Slide 10: Appendix
Appendix
Slide 11: Reconciliation of Net Income to Adjusted EBITDA
NASDAQ: LUNA Luna Innovations Incorporated© 2021 11 Reconciliation of Net Income to Adjusted EBITDA 2021 2020 Reconciliation of EBITDA and Adjusted EBITDA Net loss (318)$ (1,116)$ Loss from discontinued operations, net of income tax benefit of $464 - 1,436 Net income from continuing operations (318)
Slide 12: Reconciliation of Net Income to Adjusted EPS
NASDAQ: LUNA Luna Innovations Incorporated© 2021 12 Reconciliation of Net Income to Adjusted EPS 2021 2020 Reconciliation of Net Income to Adjusted EPS GAAP (loss)/income from continuing operations (318)$ 320$ Adjustments: Share-based Compensation 657 502 Integration and transaction expense 886 Amor
Slide 13: Historical Quarterly Results
NASDAQ: LUNA Luna Innovations Incorporated© 2021 13 Historical Quarterly Results March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 A March 31, 2021 B Revenues: Lightwave 11,554$ 12,933$ 15,350$ 19,278$ 20,997$ Luna Labs 5,587 5,642 5,700 6,637 5,302 Total revenues 17,141 18,576 21,05