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Sep 30, 2023
Luna Innovations Q3 2023 Earnings Report
Reported solid performance despite macroeconomic headwinds, with significant wins in the Sensing business and a strong showing from the Communications Test business.
Key Takeaways
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.
Total revenue increased by 5% year over year, reaching $30.7 million.
Gross margin was 57%, compared to 58% for the prior year.
Net income was $0.5 million, compared to $1.2 million for the prior year.
Adjusted EPS was $0.07, compared to $0.09 for the prior year.
Forward Guidance
Luna is updating the 2023 revenue outlook and maintaining the adjusted EBITDA outlook:
Positive Outlook
- Total revenue of $120 million to $125 million for the full year 2023
- Adjusted EBITDA of $14 million to $18 million for the full year 2023
Historical Earnings Impact
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Avg. Return Before/After Earnings
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