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Dec 31, 2020
Luna Innovations Q4 2020 Earnings Report
Reported record Q4 and full-year results, driven by strong operating and financial performance and the acquisition of OptaSense.
Key Takeaways
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.
Total revenues increased by 33% to $25.9 million, including OptaSense.
Excluding OptaSense, total revenues increased by 25% to $24.4 million.
Operating income was $0.5 million, but $3.7 million excluding OptaSense and acquisition-related expenses.
Net loss from continuing operations was $0.1 million, but net income was $3.0 million excluding OptaSense and acquisition-related expenses.
Forward Guidance
For fiscal year 2021, Luna expects total revenues in the range of $122 million to $127 million and Adjusted EBITDA in the range of $16 million to $19 million.
Positive Outlook
- Expects total revenues in the range of $122 million to $127 million for full fiscal 2021.
- Expects Adjusted EBITDA in the range of $16 million to $19 million for full fiscal 2021.
Challenges Ahead
- Luna is not providing an outlook for net income, which is the most directly comparable GAAP measure to Adjusted EBITDA.
- Changes in the items that Luna excludes from net income to calculate Adjusted EBITDA can be dependent on future events.
- These future events are less capable of being controlled or reliably predicted by management.
- These future events are not part of Luna's routine operating activities.
- The outlook does not include any future acquisitions, divestitures, or unanticipated events.
Historical Earnings Impact
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