Luna Innovations reported a 5% year-over-year increase in total revenue, reaching $30.7 million. Net income was $0.5 million, and adjusted EPS was $0.07. The company is updating the 2023 revenue outlook and maintaining the adjusted EBITDA outlook.
Luna Innovations reported total revenues of $29.2 million, an 11% increase year over year. The company's adjusted EPS was $0.04, compared to $(0.02) for the prior year. They are reaffirming the 2023 revenue and adjusted EBITDA outlook it originally provided on March 14, 2023.
Luna Innovations reported a strong fourth quarter with a 31% increase in revenue year over year, driven by growth in multiple areas including OEM accounts, fiber sensing solutions, Terahertz products, and Communications test vertical. The company's gross margin also improved to 61% compared to 58% in the prior year. Looking ahead, Luna Innovations provided guidance for 2023, expecting total revenues in the range of $125 million to $130 million.
Luna Innovations reported a strong Q3 2022 with a 43% increase in total revenues year-over-year, reaching $29.2 million. Net income rose to $1.2 million, and adjusted EPS reached $0.09. The company reaffirmed its full-year 2022 outlook.
Luna Innovations reported a 19% increase in total revenues for the second quarter of 2022, driven by the Lios acquisition. However, the company experienced a net loss due to discontinued operations and associated taxes.
Luna Innovations reported a 26% increase in total revenues, reaching $24.2 million for Q4 2021 compared to Q4 2020. The company also achieved a net income of $1.6 million, a significant improvement from the net loss of $0.1 million in the same period last year. This growth was supported by strategic acquisitions and strong performance across its sensing and communications testing businesses.
Luna Innovations reported a revenue increase of 32% compared to the previous year's quarter, driven by recent acquisitions. However, operating and net income decreased due to higher operating expenses and amortization related to these acquisitions. The company is revising its full-year revenue guidance to $85 million to $88 million.
Luna Innovations reported total revenues of $27.9 million, a 50% increase compared to the same period last year. The company experienced an operating loss of $1.0 million and a net loss of $0.2 million. Adjusted EPS was $0.06, consistent with the prior year.
Luna Innovations reported a 33% increase in total revenues for Q4 2020, reaching $25.9 million, with operating income at $0.5 million and a net loss from continuing operations of $0.1 million. Excluding the OptaSense acquisition, total revenues increased by 25% to $24.4 million, with an operating income of $3.7 million and a net income of $3.0 million, or $0.09 per fully diluted share. Adjusted EBITDA was $4.3 million, or $5.0 million excluding OptaSense.
Luna Innovations reported a strong third quarter with a 14% increase in total revenues compared to the same period last year. The company's operating income and net income also saw significant increases.
Luna Innovations reported a 4% increase in total revenues, reaching $18.6 million for the second quarter of 2020. Operating income increased to $1.8 million, or 10% of total revenues, and net income was $1.4 million, or $0.04 per fully diluted share. The company maintains its 2020 outlook, tightening the revenue range to $81M to $83M.
Luna Innovations reported a strong fourth quarter with a 44% increase in total revenues compared to the same period last year. Net income from continuing operations was $2.1 million, or $0.07 per fully diluted share, compared to a loss of $0.1 million in the prior-year period. Adjusted EBITDA improved to $3.2 million.