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LUNA DEFYING IMPOSSIBLE . Luna Innovations Reports Third - Quarter 2021 Results November 15 , 2021 Highlights The following highlights reflect the reclassification of Luna Labs to discontinued operations : • Total revenues of $ 20.3 million for the three months ended September 30 , 2021 , up 32 % compared to the three months ended September 30 , 2020 • Gross margin of 62 % for the three months ended September 30 , 2021 , compared to 63 % for the three months ended September 30 , 2020 • Operating loss of $ 10 thousand for the three months ended September 30 , 2021 , compared to operating income of $ 1.2 million for the three months ended September 30 , 2020 • Net income of $ 0.4 million for the three months ended September 30 , 2021 , compared to net income of $ 3.1 million for the three months ended September 30 , 2020 • Adjusted EBITDA of $ 2.1 million for the three months ended September 30 , 2021 , compared to $ 3.1 million for the three months ended September 30 , 2020 ● Adjusted EPS of $ 0.03 for the three months ended September 30 , 2021 , compared to $ 0.11 for the three months ended September 30 , 2020 ROANOKE , Va .-- ( BUSINESS WIRE ) -- Nov . 15 , 2021-- Luna Innovations Incorporated ( NASDAQ : LUNA ) , a global leader in advanced optical technology , today announced its financial results for the three and nine months ended September 30 , 2021 . " Q3 was a record quarter for customer demand of our products , as we realized the highest level of bookings we've ever had , " said Scott Graeff , President and Chief Executive Officer of Luna . " The largest backlog in our history is the result of record bookings , the increased impact of COVID and industry - wide supply chain challenges which have slowed our ability to deliver products . As a result , revenue for the year will be lighter than what we could have delivered . We believe that this is a temporary situation and remain committed to Luna's strategy . We continue to see vast opportunities for Luna in fiber optic technologies and are pleased to take the pivotal step in focusing on fiber with our transition of Luna Labs to discontinued operations . We have evaluated a number of opportunities and look forward to sharing Luna's meaningful achievements over the coming months . " Third - Quarter Fiscal 2021 Financial Summary Highlights of the financial results for the three months ended September 30 , 2021 are : ( in thousands , except share and per share data ) Revenues Gross profit Gross margin Operating expense Operating ( loss ) / income Operating margin Other ( expense ) / income and income tax Luna Labs moved to Discontinued Operations benefit / ( expense ) Net ( loss ) / income from continuing operations Income from discontinued operations , net of income tax of $ 235 and $ 247 Net income Earnings per diluted share ( EPS ) $ $ $ $ Three Months Ended September 30 , 2021 2020 20,329 12,584 62 % 12,594 ( 10 ) - % ( 334 ) ( 344 ) 699 355 0.01 $ $ $ $ 15,350 9,632 63 % 8,420 1,212 8 % 1,096 2,308 794 3,102 0.10 Change 32 % 31 % 50 % ( 89 ) % ( 90 ) %