Why Are Luna Innovations Shares Trading Higher Today

Luna Innovations Inc LUNA reported fourth-quarter FY21 revenue growth of 26% year-on-year to $24.2 million, beating the consensus of $23.7 million.
The gross margin contracted 300 bps to 58%, driven primarily by product mix due to acquisitions.
Luna reported a positive operating margin of 4.3% against a negative margin of (3.3)% in the year-ago period.
Non-GAAP EPS of $0.08 beat the consensus of $0.04.
Luna held $17.1 million in cash and equivalents.
Acquisition: Luna completed the divestiture of Luna Labs and the purchase of LIOS Sensing.
Based in Cologne, Germany, LIOS Sensing is a fiber-optic distributed monitoring solutions provider.
CEO Scott Graeff said, "We reported record backlog and delivered double-digit revenue and gross profit growth for the fourth-quarter and full-year. Across our sensing and communications testing businesses, we realized some of the largest customer orders to date and penetrated into new geographies and markets, while implementing systems to support growth."
Outlook: Luna sees FY22 revenue of $109 million - $115 million, above the consensus of $103.4 million.
Luna sees Q1 FY22 revenue of $20 million - $22 million, below the consensus of $23.6 million.
Price Action: LUNA shares traded higher by 12.9% at $7.53 on the last check Monday.