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.
Total revenues increased by 19% to $26.2 million compared to Q2 2021.
Gross margin improved to 61% compared to 57% in Q2 2021, driven by favorable product mix.
Net loss was $2.4 million, compared to a net loss of $0.2 million in Q2 2021, impacted by discontinued operations and taxes.
Adjusted EBITDA increased to $1.2 million, compared to $1.0 million in Q2 2021.
Luna is confirming the 2022 outlook it originally provided on March 14, 2022, which included the mid-March divestiture of Luna Labs and the acquisition of Lios, and also is providing a third-quarter 2022 outlook.
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