LUNA INNOVATIONS INC
lunainc.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 14, 2023. Its latest SEC filing is a SCHEDULE 13G/A from Jan 27, 2026.
10-Q for Q3 FY2023, filed Nov 14, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Sells fiber-optic test and measurement equipment and distributed sensing systems to telecommunications companies, manufacturers, and aerospace, energy and infrastructure customers.
10-K for FY2022, filed Mar 16, 2023Luna Innovations Incorporated ("we" or the "Company") is a leader in advanced optical technology, providing high performance fiber optic…View ↗
Our optical test and measurement products primarily serve the telecommunications industry, as well as provide valuable applications in…View ↗
We primarily market our fiber optic test, measurement and control products to telecommunications companies, defense agencies, government…View ↗
How Did They Make Money?
Customers mainly pay for test, measurement and sensing systems when standard products ship; custom products and monitoring services are paid over their contract period. Research customers pay interim amounts as work progresses or when milestones are met.
10-K for FY2022, filed Mar 16, 2023
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10-K for FY2022, filed Mar 16, 2023
FY2022 revenue by product or service ↗
$109.5M
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10-K for FY2022, filed Mar 17, 2023
$109.5M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Technology development
Recurring
10-K for FY2022, filed Mar 16, 2023 |
7.0%
FY2019: 37%
|
Technology development, FY2022
$7.6M Sources
|
Recurring |
|
Test, measurement and sensing systems
Mix
10-K for FY2022, filed Mar 16, 2023 |
91%
FY2019: 59%
|
Test, measurement and sensing systems, FY2022
$99.4M Sources
|
Mix |
|
Other
|
2.3%
FY2019: 3.8%
|
Other, FY2022
$2.5M Sources
|
Who Were Their Customers?
Commercial and government buyers, including manufacturers and researchers, buy fiber-optic products directly or through representatives and distributors; THz instruments are sold mainly to original equipment manufacturers through resellers and representatives.
10-K for FY2022, filed Mar 16, 2023
Did Revenues Turn Into Profits?
Yes. It kept 8 cents of every revenue dollar as net income in FY2022, but spent more cash than it brought in: free cash flow was −$11.5M.
10-K for FY2022, filed Mar 17, 2023
−$1.9MView ↗
10-K for FY2022, filed Mar 17, 2023
$9.3MView ↗
10-K for FY2022, filed Mar 17, 2023
−$11.5MView ↗
How Were They Changing?
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Feb 21, 2025
Auditor resigned amid a financial statement restatement
EY resigned before completing the 2023 audit; previously issued annual and interim statements were identified for restatement because of revenue accounting errors.
Sources
8-K, filed Feb 21, 2025
On February 14, 2025, Ernst & Young LLP (“EY”) informed the Audit Committee of the Board of Directors (the “Audit Committee”) of Luna…View ↗
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Jan 27, 2025
Company accelerated its plan to delist and deregister its shares
The company said it expected its shares to remain on the OTC Expert Market.
Sources
8-K, filed Jan 27, 2025
On January 27, 2025, the Company announced its plans to accelerate the delisting of its common stock from The Nasdaq Stock Market LLC…View ↗
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Jan 6, 2025
Nasdaq scheduled trading suspension and delisting of the shares
Nasdaq said it would suspend trading and later delist the shares after the company said it would not meet reporting deadlines.
Sources
8-K, filed Jan 6, 2025
On December 23, 2024, Luna Innovations Incorporated (the “Company”) notified The Nasdaq Stock Market LLC (“Nasdaq”) that the Company no…View ↗
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Oct 16, 2024
CFO retired and a new CFO was appointed
John Roiko retired as CFO and William Phelan was appointed CFO and chief accounting officer.
Sources
8-K, filed Oct 16, 2024
John C. Roiko, the Chief Financial Officer of Luna Innovations Incorporated (the “Company”), will retire from his position, effective…View ↗
Grew. Revenue grew 2.6x in 4 years, from $42.9M in FY2018 to $109.5M in FY2022, about 26% a year.
Research business sold
The earlier report describes Technology Development as a separate segment performing applied research across sensing, materials, optical technologies and health sciences. The latest report says Luna Labs was sold, while Lightwave continues applied research focused on optical sensing and THz technologies.
10-K for FY2019, filed Mar 13, 2020 10-K for FY2022, filed Mar 16, 2023Our Technology Development segment performs applied research principally in the areas of sensing and instrumentation, advanced materials…View ↗
Prior to September 30, 2021, we were organized into two main reporting segments, our Lightwave segment and our Luna Labs segment. We now…View ↗
On March 8, 2022, we completed the sale of substantially all of our equity interests in our Luna Labs business to certain members of Luna…View ↗
Our Lightwave segment also performs applied research principally in the areas of optical sensing and THz technologies.View ↗
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