Luna Announces Strong Start to 2025 with Substantial Bookings Growth
ROANOKE, Va.--(BUSINESS WIRE)--May 20, 2025--
Luna Innovations Incorporated (OTCMKTS: LUNA) ('Luna' or the 'Company'), a global leader in advanced fiber optic-based technology, today announced select preliminary operating and financial metrics for the first quarter ended March 31, 2025, showcasing significant year-over-year bookings growth, continued gross margin expansion, and sustained execution on cost containment initiatives.
'We are pleased to report a strong start to 2025, with sharp improvements in bookings, margin performance, and working capital management,' said the Company's President, Chief Executive Officer, Kevin Ilcisin. 'Our continued focus on operational discipline, customer alignment, and profitable growth is positioning us well for sustained success.'
Financial Highlights for the first quarter ended March 31, 2025
Will Denman, SVP and GM of the Optical Communications Test business commented, 'The growth of artificial intelligence and data centers is driving a significant acceleration in demand for photonics. Luna's optical test solutions are playing a critical role in enabling this next wave of high-performance computing infrastructure. It's an exciting time to partner with some of the most innovative leaders in the industry.'
Thomas Oldemeyer, SVP and Managing Director of the Sensing business added, 'Despite recent oil price volatility, demand for Luna's sensing solutions remains strong in energy applications, particularly in oilfield services and pipeline monitoring. Our new ATLAS Acoustic Sensing Platform enabled major project wins in India and Africa.'
Based on preliminary estimates, the Company expects the following financial results for the first quarter ended March 31, 2025:
Operational and Strategic Highlights
Mr. Ilcisin concluded, 'I am proud of our team's ability to deliver these positive results while executing significant cost savings initiatives and addressing macro headwinds. We are confident that our continued focus on operational efficiency, customer satisfaction, and product innovation will position us for sustained profitable growth.'
Preliminary Unaudited Financial Information
This press release contains preliminary estimates of selected unaudited financial and other information for the Company's quarters ended March 31, 2025 and 2024. Our full audited condensed consolidated financial statements as of and for the year ended December 31, 2024 and 2023 are not yet available. The information contained herein reflects our preliminary estimates based on currently available information and is subject to change. We have provided ranges for the preliminary estimates of the financial information described herein primarily because our financial closing procedures for the year ended December 31, 2024 and quarters ended March 31, 2025 and 2024 are not yet complete and, as a result, our final results upon completion of our closing procedures may vary from the preliminary estimates.
Forward-Looking Statements
The statements in this release that are not historical facts constitute 'forward-looking statements'. These statements include, but are not limited to, preliminary financial results and statements made regarding the Company's expected and future financial and operational results. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results, performance, and/or achievements of the Company may differ materially from the future results, performance, and/or achievements expressed or implied by these forward-looking statements because of a number of factors. The statements made in this release are based on information available to Luna as of the date of this release and Luna undertakes no obligation to update any of the forward-looking statements after the date of this release.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250520947415/en/
CONTACT: Investor Contact:
Allison Woody
Luna Innovations Incorporated
Phone: 540.769.8465
Email:[email protected]
KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA
INDUSTRY KEYWORD: TELECOMMUNICATIONS SOFTWARE NETWORKS DEFENSE NANOTECHNOLOGY OTHER DEFENSE HARDWARE TECHNOLOGY
SOURCE: Luna Innovations Incorporated
Copyright Business Wire 2025.
PUB: 05/20/2025 08:48 AM/DISC: 05/20/2025 08:47 AM
http://www.businesswire.com/news/home/20250520947415/en
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
7 hours ago
- Business Wire
ABL Investors Have Opportunity to Join Abacus Global Management, Inc. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Abacus Global Management, Inc. ('Abacus' or 'the Company') (NASDAQ: ABL) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Abacus is the subject of a report issued by Morpheus Research on June 4, 2025, titled: 'Abacus Global Management: This $794 Million SPAC Is Yet Another Life Settlements Accounting Scheme Manufacturing Fake Revenue by Systematically Underestimating When People Will Die.' According to the report, the Company changed its portfolio valuation methodology to make it appear more profitable than it actually is. The report also alleges that the Company uses unusual methodologies to calculate life expectancy estimates and its co-founders have 'red flags' in their past. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Business Wire
7 hours ago
- Business Wire
NWTN Investors Have Opportunity to Join NWTN Inc. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of NWTN Inc. ('NWTN' or 'the Company') (NASDAQ: NWTN) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. NWTN disclosed on May 28, 2025, that it had received a determination notice from Nasdaq indicated that the Company's securities will be delisted for failing to comply with listing rules. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Business Wire
8 hours ago
- Business Wire
BF-A, BF-B Investors Have Opportunity to Join Brown-Forman Corporation Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Brown-Forman Corporation ('Brown-Forman' or 'the Company') (NYSE: BF-A, BF-B) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Brown-Forman reported its financial results for fiscal year 2025 on June 5, 2025. The Company reported a decline in year-over-year sales of 7.3% and earnings per share below consensus estimates. The Company stated its "results did not meet our long-term growth aspirations," and advised investors that "looking ahead to fiscal 2026, we expect continued headwinds." If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
