Latest news with #OTCMKTS
Business Wire
20-05-2025
- Business
- Business Wire
Luna Announces Strong Start to 2025 with Substantial Bookings Growth
ROANOKE, Va.--(BUSINESS WIRE)--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: Bookings of $37 million to $39 million, compared to approximately $25 million in the first quarter of 2024, representing year-over-year growth of more than 50%. Revenue of $29 million to $31 million, representing a book-to-bill ratio of more than 1.2x. Operational and Strategic Highlights Cost Initiatives: Luna continued executing on its cost containment program, achieving efficiencies through vendor consolidation and labor outsourcing initiatives. Margin Expansion: Significant improvement in gross margins due to enhanced manufacturing efficiencies and favorable customer and product mix. Working Capital Improvements: Inventory reductions, strong accounts receivable collections, and disciplined capital spending enhanced liquidity. Tariff response planning: In response to global trade uncertainty, Luna has taken a number of actions to mitigate the temporary disruption in customer demand and its supply chain. 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.
Yahoo
20-05-2025
- Business
- Yahoo
Luna Announces Strong Start to 2025 with Substantial Bookings Growth
ROANOKE, Va., May 20, 2025--(BUSINESS WIRE)--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: Bookings of $37 million to $39 million, compared to approximately $25 million in the first quarter of 2024, representing year-over-year growth of more than 50%. Revenue of $29 million to $31 million, representing a book-to-bill ratio of more than 1.2x. Operational and Strategic Highlights Cost Initiatives: Luna continued executing on its cost containment program, achieving efficiencies through vendor consolidation and labor outsourcing initiatives. Margin Expansion: Significant improvement in gross margins due to enhanced manufacturing efficiencies and favorable customer and product mix. Working Capital Improvements: Inventory reductions, strong accounts receivable collections, and disciplined capital spending enhanced liquidity. Tariff response planning: In response to global trade uncertainty, Luna has taken a number of actions to mitigate the temporary disruption in customer demand and its supply chain. 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 Contacts Investor Contact: Allison Woody Luna Innovations IncorporatedPhone: 540.769.8465Email: woodya@ Sign in to access your portfolio
Associated Press
20-05-2025
- Business
- Associated Press
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 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
Business Wire
20-05-2025
- Business
- Business Wire
Veradigm Recognized with KLAS 2025 Points of Light Award for Optimizing Value-Based Care
CHICAGO--(BUSINESS WIRE)-- Veradigm ® (OTCMKTS: MDRX), a leading provider of healthcare data and technology solutions, along with Metroplex Medical Centres and one of the largest healthcare payer organizations in the country, received a 2025 KLAS Points of Light Award. The case study titled, 'Optimizing Value-Based Care by Delivering Insights at the Point of Care,' showcased how Veradigm and the payer integrated alerts into Metroplex Medical Centres' electronic health record (EHR) to help improve clinical decision support, reduce healthcare provider burnout, advance patient care, and lower overall healthcare costs. Closing quality care gaps is critical in improving patient care and health outcomes, but the information is often delivered in fragmented, external systems. This was the case for Metroplex Medical Centres, a Texas-based healthcare organization, which had two designated employees that used seven different systems to pull data on quality care gaps. The inefficient workflows - including lack of timely, actionable data - resulted in care gaps going unaddressed and time intensive administrative processes creating a fragmented physician user experience and subsequently, increased burnout. 'Like many healthcare organizations around the country, we are always looking to collaborate with the most innovative companies to help us deliver quality care to our growing patient population amidst evolving industry standards,' said Sneha Patel, MPAS, PA-C, Chief Executive Officer at Metroplex Medical Centres. 'Veradigm helped increase transparency into our gaps in care, all while helping us reduce administrative burnout and increase staff efficiency, creating a winning formula for everyone we serve.' Working together to reduce friction and improve workflows, Veradigm and the payer organization collaborated to integrate four types of real-time risk and quality alerts into Metroplex's EHRs. Key outcomes detailed in the case study show that through the collaboration, the healthcare entity was able to reduce the time spent searching for data by about 20 hours per week. The time savings has helped foster a smoother transition to value-based care, which is top of mind for ambulatory care practices. Additionally, the improved care quality led to a reduction in unnecessary emergency department visits for patients, ultimately improving patient health outcomes and lowering costs for the healthcare industry. 'To move value-based care forward, collaboration among payers and providers is critical. At Veradigm, we're focused on creating dynamic solutions, including Veradigm Payer Insights, to share patient data across the key pillars of healthcare through trusted, integrated workflows,' said Megan Zakrewsky, Vice President of Product for Clinical Data Exchange Payer Solutions at Veradigm. 'Through the Veradigm Network, we're continuing to prioritize opportunities to innovate, such as consolidating external insights by including social determinants of health and the transition of care alerts into streamlined workflows to simultaneously improve patient outcomes and reduce administrative burdens and costs.' The KLAS Points of Light award recognizes successful collaborations between payers, providers, and healthcare technology companies that have led to improvements in patient experience, cost reduction, and efficiency gains for the healthcare industry. Veradigm and the payer organization are presenting their award-winning case study at the KLAS K2 Collaboration Summit in Salt Lake City today. The session, titled 'Leveling the Playing Field,' will spotlight how the companies are working together to empower independent providers with the same high-quality payer insights typically reserved for large health systems, and how Veradigm uniquely supports providers in capturing the necessary documentation for these conditions. Click here to read the full case study. About Veradigm® Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions for the healthcare provider, payer, and biopharma markets. For more information about how Veradigm is fulfilling its mission of Transforming Health, Insightfully, visit or find Veradigm on LinkedIn, Facebook, Twitter, Instagram, and YouTube. © 2025 Veradigm LLC and/or its affiliates. All rights reserved. Cited marks are the property of Veradigm LLC and/or its affiliates. All other product or company names are the property of their respective holders, all rights reserved.
Malaysian Reserve
19-05-2025
- Business
- Malaysian Reserve
B. Riley Securities Provides Business and Financial Update Following Carve-Out Transaction
LOS ANGELES, May 19, 2025 /PRNewswire/ — B. Riley Securities Holdings, Inc. ('B. Riley Securities,' 'BRS' or the 'Company'), a leading middle market investment bank, today provided a business and financial update following its previously announced carve-out transaction with B. Riley Financial, Inc. ('BRF'), and in anticipation of BRS' future filings of financial statements and quotation on the OTC Markets. Andy Moore, Chairman and Co-CEO, B. Riley Securities, stated:'We remain relentlessly focused on delivering for our clients. With our previously announced carve-out from BRF, we are able to provide greater financial transparency and a clearer view into the underlying strength of our business. We are committed to providing our stakeholders with increased visibility into our strategy and vision for value creation. Although transactional activity has been tempered by macro uncertainty, volatility has often presented compelling opportunities for us to gain market share with differentiated, client-focused execution. As a trusted partner to middle market companies and those who invest in them, we take a long-term view in positioning BRS for sustainable growth and maximizing shareholder value.' Jimmy Baker, Co-CEO & Head of Capital Markets at B. Riley Securities, commented:'We are proud of how our team navigated a challenging 2024. Over the course of last year, we raised $16.5 billion in debt and equity on behalf of our clients and expanded our capabilities in key areas including Convertibles and Liability Management. In addition, our advisory practice is now more closely aligned with our core clients' interests with a sharpened strategic focus on Capital Markets. We have also continued to invest in talent across Equity Research, Sales & Trading, and Investment Banking. It will take time for the full impact of our previously announced carve-out and the contribution of our new team members to materialize in our financial results. Our focus remains firmly on long-term value creation and making BRS a destination for top middle market talent while creating opportunities for growth and leadership within our firm.' Adjusted Year 2024 Financial HighlightsOn an adjusted basis, BRS delivered total revenue of $217.7 million, adjusted net revenue of $211.0 million, a net loss of $14.5 million, and adjusted net income of $33.1 million. The adjusted basis referred to gives effect to the March 2025 contributions of Cascadia Investments Inc. (OTCMKTS: CDIV) and other subsidiaries to BRS as part of the carve-out, as if those contributions had been completed on January 1, 2024. For a reconciliation of non-GAAP measures to their corresponding GAAP measures and additional disclosures, see 'Note Regarding Use of Non-GAAP Financial Measures' and the tables below. In January 2025, the Company repaid all $12.4 million of its outstanding debt. Reflecting primarily the impact of pre-carve out distributions to BRF, losses pertaining to a legacy investment, cash use in connection with year-end compensation and repayment of debt as discussed above, BRS stands completely debt-free with $68 million in cash and securities owned as of the carve-out effective date. About B. Riley Securities (BRS)BRS provides a full suite of investment banking and capital markets services to corporations, financial sponsors, and institutional investors across all industry verticals. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring and liability management. Widely recognized for its thematic proprietary equity research, clients benefit from BRS' extensive network, industry expertise, and proven execution capabilities of its end-to-end financial services platform. For more information, visit Note Regarding Use of Non-GAAP Financial MeasuresCertain information set forth herein, including adjusted net revenue and adjusted net income (loss), may be considered non-GAAP financial measures. B. Riley Securities believes this information is useful to investors because it provides a basis for measuring the operating performance of the Company's business and its revenues and cash flow, (i) excluding in the case of adjusted net revenue, trading gains (losses) on legacy investment positions (net of 'regular way' fixed income trading revenue) and fair value adjustments on loans, and including Securities Lending interest expense and (ii) excluding in the case of adjusted net income, fair value adjustments, stock-based compensation, trading gains (losses) on legacy investment positions (net of 'regular way' fixed income trading revenue), fair value adjustments on loans and other investment-related expenses, and including the estimated related tax expense or benefit on the aforementioned adjustments, that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles ('GAAP'). In addition, the Company's management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the Company's operating performance, management compensation, capital resources, and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by the Company may not be comparable to similarly titled amounts reported by other companies. B. RILEY SECURITIES HOLDINGS, INC. Condensed Consolidated Balance Sheet as of December 31, 2024 (Unaudited) (in thousands) B. Riley Securities,Inc. (1) Other wholly owned unaudited subsidiaries (2) As AdjustedB. Riley Securities Holdings, Inc. Assets: Cash and cash equivalents $ 40,926 $ 1,213 $ 42,139 Receivables 70,006 (36,298) 33,708 Securities borrowed 43,022 – 43,022 Securities owned, at fair value 77,758 938 78,696 Operating lease right of use asset 6,884 1,721 8,605 Goodwill and intangibles 113,914 24,990 138,904 Property and equipment, net 2,049 – 2,049 Prepaid expenses and other assets 2,387 – 2,387 Total assets $ 356,946 $ (7,436) $ 349,510 Liabilities: Securities loaned $ 27,942 $ – $ 27,942 Financial instruments sold, not yet purchased, at fair value 5,675 – 5,675 Note payable 12,379 – 12,379 Accrued compensation and benefits 26,822 253 27,075 Accounts payable and accrued expenses 16,021 (1,279) 14,742 Operating lease liabilities 8,293 2,288 10,581 Total liabilities 97,132 1,262 98,394 Equity 259,814 (8,698) 251,116 Total liabilities & equity $ 356,946 $ (7,436) $ 349,510 1) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to B. Riley Securities Holdings, Inc. as if the March 2025 contribution was made on December 31, 2024. B. RILEY SECURITIES HOLDINGS, INC. Condensed Consolidated Statements of Operations Year Ended December 31, 2024 (Unaudited) (in thousands) B. Riley Securities, Inc. (1) Other wholly owned unaudited subsidiaries (2) As AdjustedB. Riley Securities Holdings, Inc. Revenues Investment banking: $ 146,887 $ 7,045 $ 153,932 Institutional brokerage (18,824) (556) (19,380) Interest 78,229 76 78,305 Other income 3,866 945 4,811 Total revenues $ 210,158 $ 7,510 $ 217,668 Expenses Compensation and benefits $ 117,745 $ 1,363 $ 119,108 Interest 66,518 – 66,518 Other operating expenses 47,947 3,456 51,403 Total expenses 232,210 4,819 237,029 Operating net income (loss) (22,052) 2,691 (19,361) Other income/expense – (515) (515) Net income (loss) before income taxes (22,052) 2,176 (19,876) Income tax (benefit) expense (5,954) 587 (5,367) Net income (loss) $ (16,098) $ 1,589 $ (14,509) 1) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to the group subsequent to December 31, 2024. B. RILEY SECURITIES HOLDINGS, INC. Reconciliation of GAAP to Adjusted Full Year 2024 Results (Unaudited) (in thousands) B. Riley Securities, Inc. (1) Other wholly owned unaudited subsidiaries (2) As AdjustedB. Riley Securities Holdings, Inc. Reconciliation of GAAP to adjusted financials: GAAP revenue $ 210,158 $ 7,510 $ 217,668 Adjustments: Legacy positions losses (gains) (3) 59,182 556 59,738 Loans at fair value 63 – 63 Committed equity facility gains (losses) – (515) (515) Total adjustments 59,245 41 59,286 Adjusted revenue 269,403 7,551 276,954 Securities lending interest expense (65,939) – (65,939) Adjusted net revenue (a non-GAAP figure) $ 203,464 $ 7,551 $ 211,015 Net income $ (16,098) $ 1,589 $ (14,509) Adjustments: Fair value adjustment of contingent acquisition consideration (379) – (379) Share based compensation 5,757 – 5,757 Legacy positions losses (gains) (3) 59,182 556 59,738 Loans at fair value 63 – 63 Income tax-effect of above non-GAAP adjustments and certain discrete tax items (17,448) (150) (17,598) Adjusted net income $ 31,077 $ 1,995 $ 33,072 1) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to the group subsequent to December 31, 2024. 3) Legacy investment positions held at BRS that are not, following the carve-out, part of BRS' go-forward strategy. Contact:Jo Anne McCuskerB. Riley Securitiespress@
