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Jun 30, 2022
Luna Innovations Q2 2022 Earnings Report
Reported a 19% increase in total revenues and a gross margin of 61%, but also a net loss primarily due to tax and discontinued operations.
Key Takeaways
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.
Forward Guidance
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.
Positive Outlook
- Total revenue of $109 million to $115 million for the full year 2022
- Adjusted EBITDA of $10 million to $12 million for the full year 2022
- Total revenues in the range of $28 million to $30 million for the third quarter 2022
Historical Earnings Impact
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Avg. Return Before/After Earnings
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