Why Luna Innovations Shares Are Gaining Today

Luna Innovations Inc LUNA reported first-quarter FY22 revenue growth of 7% year-on-year to $22.5 million, beating the consensus of $21.2 million.
Margins: The gross margin expanded 600 bps to 64%, driven primarily by a favorable product mix.
The operating margin was (11)% as the operating loss grew due to Lios acquisition costs.
Adjusted EPS of $0.05 beat the consensus of $0.01.
CEO Scott Graeff said, "We surpassed the top end of the Q1 revenue guidance we provided in March, while completing significant events including the divestiture of Luna Labs, the acquisition of Lios and the complete absorption of OptaSense into our operations."
Outlook: Luna expects Q2 revenue of $25 million - $27 million against the consensus of $25.96 million.
Luna reiterated the FY22 revenue forecast of $109 million - $115 million versus the consensus of $109.85 million.
Price Action: LUNA shares traded higher by 12.4% at $6.05 in the premarket on the last check Monday.

Earnings Calendar