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LUNA Luna Innovations

Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high-performance, fiber optic-based, test products for the telecommunications industry and distributed fiber optic-based sensing for the aerospace and automotive industries. Luna is organized into two business segments, which work closely together to turn ideas into products: a Lightwave segment and a Luna Labs segment. Luna's business model is designed to accelerate the process of bringing new and innovative technologies to market.

Company profile

Ticker
LUNA
Exchange
CEO
Scott A. Graeff
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Luna Technologies, Inc. • TeraMetrix, LLC • General Photonics Corporation • OptaSense Holdings Limited • OptaSense Limited • OptaSense Inc. • OptaSense Canada Ltd. ...

LUNA stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

9 Aug 21
21 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 11.97M 11.97M 11.97M 11.97M 11.97M 11.97M
Cash burn (monthly) (positive/no burn) 1.21M 374.67K (positive/no burn) (positive/no burn) 18.17K
Cash used (since last report) n/a 4.52M 1.4M n/a n/a 67.74K
Cash remaining n/a 7.45M 10.57M n/a n/a 11.9M
Runway (months of cash) n/a 6.2 28.2 n/a n/a 655.2

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Oct 21 Roedel Richard Stock Units Common Stock Grant Acquire A No No 9.4 106.38 999.97 2,167.54
1 Oct 21 Roedel Richard Stock Units Common Stock Grant Acquire A No No 9.4 106.38 999.97 2,061.16
1 Oct 21 Roedel Richard Stock Units Common Stock Grant Acquire A No No 9.4 292.55 2.75K 1,954.78
1 Oct 21 Roedel Richard Stock Units Common Stock Grant Acquire A No No 9.4 1,662.23 15.62K 1,662.23
1 Oct 21 Phelps Barry Stock Units Common Stock Grant Acquire A No No 9.4 106.38 999.97 69,295.18
1 Oct 21 Phelps Barry Stock Units Common Stock Grant Acquire A No No 9.4 106.38 999.97 69,188.8
1 Oct 21 Phelps Barry Stock Units Common Stock Grant Acquire A No No 9.4 292.55 2.75K 69,082.42
1 Oct 21 Phelps Barry Stock Units Common Stock Grant Acquire A No No 9.4 997.34 9.37K 68,789.87
1 Oct 21 Vitale Mary Beth Stock Units Common Stock Grant Acquire A No No 9.4 106.38 999.97 26,647.79
1 Oct 21 Vitale Mary Beth Stock Units Common Stock Grant Acquire A No No 9.4 106.38 999.97 26,541.41

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 79 78 +1.3%
Opened positions 8 16 -50.0%
Closed positions 7 10 -30.0%
Increased positions 30 21 +42.9%
Reduced positions 27 28 -3.6%
13F shares
Current Prev Q Change
Total value 186.59M 542.96M -65.6%
Total shares 56.75M 56.27M +0.9%
Total puts 0 0
Total calls 49.8K 36.7K +35.7%
Total put/call ratio
Largest owners
Shares Value Change
LUNA Luna Innovations 41.27M $0 0.0%
Royce & Associates 1.95M $21.09M +4.3%
BLK Blackrock 1.9M $20.57M -5.1%
Vanguard 1.4M $15.19M +3.2%
ACK Asset Management 1.21M $8.11M 0.0%
Punch & Associates Investment Management 947.05K $10.26M +63.3%
Dimensional Fund Advisors 792.34K $8.58M +1.5%
Wasatch Advisors 777.91K $8.43M +17.7%
MS Morgan Stanley 756.42K $8.19M -5.9%
STT State Street 683.16K $7.4M +50.1%
Largest transactions
Shares Bought/sold Change
Punch & Associates Investment Management 947.05K +367K +63.3%
STT State Street 683.16K +228.15K +50.1%
DB Deutsche Bank AG - Registered Shares 185.13K +164.68K +805.1%
EAM Investors 0 -137.05K EXIT
Renaissance Technologies 321.2K -134.9K -29.6%
Wasatch Advisors 777.91K +117.13K +17.7%
BLK Blackrock 1.9M -101.09K -5.1%
Royce & Associates 1.95M +79.87K +4.3%
WFC Wells Fargo & Co. 1.7K -63.98K -97.4%
California Public Employees Retirement System 0 -59.5K EXIT

Financial report summary

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Risks
  • Our technology is subject to a license from Intuitive Surgical, Inc., which is revocable in certain circumstances. Without this license, we cannot continue to market, manufacture or sell our fiber-optic products.
  • We depend on third-party vendors for specialized components in our manufacturing operations, making us vulnerable to supply shortages and price fluctuations that could harm our business.
  • We depend upon outside contract manufacturers for a portion of the manufacturing process for some of our products. Our operations and revenue related to these products could be adversely affected if we encounter problems with these contract manufacturers.
  • As a provider of contract research to the U.S. government, we are subject to federal rules, regulations, audits and investigations, the violation or failure of which could adversely affect our business.
  • A decline in government research contract awards or government funding for existing or future government research contracts, including SBIR contracts, could adversely affect our revenues, cash flows and ability to fund our growth.
  • Our failure to attract, train and retain skilled employees or members of our senior management and to obtain necessary security clearances for such persons or maintain a facility security clearance would adversely affect our business and operating results.
  • Our business is subject to the cyclical nature of the markets in which we compete and any future downturn may reduce demand for our products and revenue.
  • Customer acceptance of our products is dependent on our ability to meet changing requirements, and any decrease in acceptance could adversely affect our revenue.
  • Our products must meet exacting specifications, and defects and failures may occur, which may cause customers to return or stop buying our products.
  • The markets for many of our products are characterized by changing technology which could cause obsolescence of our products, and we may incur substantial costs in delivering new products.
  • Our inability to find new customers or retain existing customers could harm our business.
  • Customer demand for our products is difficult to accurately forecast and, as a result, we may be unable to optimally match production with customer demand, which could adversely affect our business and financial results.
  • Rapidly changing standards and regulations could make our products obsolete, which would cause our revenue and results of operations to suffer.
  • The results of our operations could be adversely affected by economic and political conditions and the effects of these conditions on our customers’ businesses and levels of business activity.
  • We have experienced net losses in the past, and because our strategy for expansion may be costly to implement, we may experience losses and may not maintain profitability or positive cash flow.
  • We face and will face substantial competition in several different markets that may adversely affect our results of operations.
  • Shifts in product mix may result in declines in gross profit.
  • If we fail to properly evaluate and execute our strategic initiatives, including the integration of acquired businesses, it could have an adverse effect on our future results and the market price of our common stock.
  • If we cannot successfully transition our revenue mix from contract research revenues to product sales and license revenues, we may not be able to fully execute our business model or grow our business.
  • Failure to develop, introduce and sell new products or failure to develop and implement new technologies, could adversely impact our financial results.
  • If we are unable to manage growth effectively, our revenues and net loss could be adversely affected.
  • We may not be successful in identifying market needs for new technologies or in developing new products.
  • We may dispose of or discontinue existing product lines and technology developments, which may adversely impact our future results.
  • Health epidemics, including the COVID-19 pandemic, have had, and could in the future have, an adverse impact on our business, operations, and the markets and communities in which we and our customers and suppliers operate.
  • Our operations are subject to domestic and foreign laws, regulations and restrictions, and noncompliance with these laws, regulations and restrictions could expose us to fines, penalties, suspension or debarment, which could have a material adverse effect on our profitability and overall financial position.
  • Environmental regulations could increase operating costs and additional capital expenditures and delay or interrupt operations.
  • If our manufacturing facilities do not meet Federal, state or foreign country manufacturing standards, we may be required to temporarily cease all or part of our manufacturing operations, which would result in product delivery delays and negatively impact revenues.
  • We are subject to additional significant foreign and domestic government regulations, including environmental and health and safety regulations, and failure to comply with these regulations could harm our business.
  • We are or may become subject to a variety of privacy and data security laws, and our failure to comply with them could harm our business.
  • Our proprietary rights may not adequately protect our technologies.
  • Third parties may claim that we infringe their intellectual property, and we could suffer significant litigation or licensing expense as a result.
  • A substantial portion of our technology is subject to retained rights of our licensors, and we may not be able to prevent the loss of those rights or the grant of similar rights to third parties.
  • If we fail to obtain the right to use the intellectual property rights of others which are necessary to operate our business, and to protect their intellectual property, our business and results of operations will be adversely affected.
  • Our common stock price has been volatile and we expect that the price of our common stock will fluctuate substantially in the future, which could cause you to lose all or a substantial part of your investment.
  • If our estimates relating to our critical accounting policies are based on assumptions or judgments that change or prove to be incorrect, our operating results could fall below expectations of financial analysts and investors, resulting in a decline in our stock price.
  • Our financial results may be adversely affected by changes in accounting principles applicable to us.
Management Discussion
  • Lightwave segment revenues for the three months ended June 30, 2021 increased $9.0 million, or 70%, to $22.0 million compared to $12.9 million for the three months ended June 30, 2020. The vast majority of the increase in revenues for the three months ended June 30, 2021, compared to the three months ended June 30, 2020, was due to the revenues from OptaSense which was acquired on December 3, 2020. Excluding OptaSense, we experienced continued growth in our communications test business. Revenues from our Luna Labs segment for the three months ended June 30, 2021 increased $0.3 million, or 6%, to $6.0 million compared to $5.6 million for the three months ended June 30, 2020.
  •     The cost of revenues for the Lightwave segment increased by $4.3 million, or 82%, to $9.4 million for the three months ended June 30, 2021, compared to $5.2 million for the three months ended June 30, 2020. This increase in cost of revenues resulted from the OptaSense business and higher sales volume in our communications testing products. The cost of revenues for the Luna Labs segment for the three months ended June 30, 2021 increased $0.7 million, or 17%, to $4.5 million compared to $3.9 million for the three months ended June 30, 2020.
  •     Our overall gross margin for three months ended June 30, 2021 was 50%, compared to 51% for the three months ended June 30, 2020.
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