Articles from Luna Innovations Incorporated

Luna Innovations Incorporated (Nasdaq: LUNA) (the “Company”), a global leader in advanced fiber optic-based technology, today announced that it has received a written notice (the “Notice”) on November 14, 2024, from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that because the Company has not yet filed its Form 10-Q for the quarter ended September 30, 2024 (the “Q3 2024 Form 10-Q”) and because the Company remains delinquent in filing its Form 10-Qs for the quarters ended March 31, 2024 (the “Q1 2024 Form 10-Q”) and June 30, 2024 (the “Q2 2024 Form 10-Q”) and its Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K”, and collectively with the Q1 2024 10-Q, Q2 2024 10-Q and Q3 2024 10-Q, the “Delinquent Filings”), it is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”). As previously announced, the Company received earlier notices of non-compliance with respect to the Rule on August 20, 2024, May 17, 2024 and April 2, 2024 because it had not yet filed its Q2 2024 Form 10-Q, Q1 2024 Form 10-Q and 2023 Form 10-K, respectively.

Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced fiber optic-based technology, today announced the appointment of William L. Phelan as its new Chief Financial Officer and Chief Accounting Officer, effective immediately. Mr. Phelan succeeds John Roiko, who joined Luna out of retirement in May 2024 and played a key role in establishing a resilient foundation for Luna’s future growth. Following the appointment of Mr. Phelan, Mr. Roiko will shift to a consulting role to support the ongoing restatement process.

Luna Innovations Incorporated (Nasdaq: LUNA) (the “Company”), a global leader in advanced fiber optic-based technology, today announced that on October 1, 2024, it received a staff determination letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, due to the Company’s failure to regain compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”), Nasdaq has determined (the “Determination”) that the Company’s securities will be scheduled for delisting from Nasdaq unless the Company requests an appeal of the determination to a Hearings Panel (the “Hearings Panel”).

Luna Innovations Incorporated (Nasdaq: LUNA) (the “Company”), a global leader in advanced fiber optic-based technology, today announced that it has received a written notice (the “Notice”) on August 20, 2024, from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that because the Company has not yet filed its Form 10-Q for the quarter ended June 30, 2024 (the “Q2 2024 Form 10-Q”) and because the Company remains delinquent in filing its Form 10-Q for the quarter ended March 31, 2024 (the “Q1 2024 Form 10-Q”) and its Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K”), it is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”). As previously announced, the Company received earlier notices of non-compliance with respect to the Rule on May 17, 2024 and April 2, 2024 because it had not yet filed its Q1 2024 Form 10-Q and 2023 Form 10-K, respectively.

Luna Innovations Incorporated (NASDAQ: LUNA) (the “Company”), a global leader in advanced fiber optic-based technology, today announced the appointment of Kevin Ilcisin as its new President and Chief Executive Officer, the retirement of Richard Roedel from the Board of Directors (the “Board”) after nearly 20 years of service, and the closing of a $15 million junior secured term loan facility (the “Loan Facility”).

Luna Innovations Incorporated (NASDAQ: LUNA) (the “Company”), a global leader in advanced fiber optic-based technology, today announced that it has received a written notice (the “Notice”) on May 17, 2024, from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that because the Company has not yet filed its Form 10-Q for the quarter ended March 31, 2024 (the “Form 10-Q”) and because the Company remains delinquent in filing its Form 10-K for the year ended December 31, 2023 (the "Form 10-K"), it is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the "SEC").

Luna Innovations Incorporated (NASDAQ: LUNA) (“Luna” or the “Company”), a global leader in advanced fiber optic-based technology, today announced two inducement grants pursuant to its 2024 Inducement Plan.

Luna Innovations Incorporated (NASDAQ: LUNA) (“Luna” or the “Company”), a global leader in advanced fiber optic-based technology, today announced the appointment of two new members of its senior leadership team.

Luna Innovations Incorporated (NASDAQ: LUNA) (the “Company”), a global leader in advanced fiber optic-based technology, today announced that it has retained senior executives and industry veterans Alex Davern and Kevin Ilcisin as consultants to provide strategic advice and counsel with respect to the Company’s operations and strategy. Mr. Davern and Mr. Ilcisin will report to Richard Roedel, the Company’s Interim Executive Chairman and Interim President. The Company has also appointed finance executive John Roiko as Chief Financial Officer to succeed George Gomez-Quintero, who notified the Company on April 29, of his resignation from his position, which became effective today.

Luna Innovations Incorporated (NASDAQ: LUNA) (the “Company”), a global leader in advanced fiber optic-based technology, today announced that its Audit Committee of the Board of Directors (the “Audit Committee”), after consultation with the Company’s management and the Special Committee’s external legal and financial advisors, determined that its financial statements for the fiscal year ended December 31, 2022, and the interim periods ended March 31, 2022, June 30, 2022, and September 30, 2022 and March 31, 2023, cannot be relied upon and need to be restated due to identified accounting errors relating to revenue recognition. Similarly, any previously issued or filed reports, press releases, earnings releases, investor presentations or other Company communications describing the Company’s financial results or other financial information relating to the fiscal year ended December 31, 2022, should no longer be relied upon.

Luna Innovations Incorporated (NASDAQ: LUNA) (the “Company”), a global leader in advanced fiber optic-based technology, today announced that it has received a written notice (the “Notice”) on April 2, 2024, from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that because the Company has not yet filed its Form 10-K for the year ended December 31, 2023 (the "Form 10-K"), it is no longer in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the "SEC").

Luna Innovations Incorporated (NASDAQ: LUNA) (the “Company”), a global leader in advanced fiber optic-based technology, today announced that Scott Graeff has retired from his role as President and Chief Executive Officer of the Company and has stepped down from the Board of Directors (the “Board”), leaving the Company after 21 years, including the last seven as President and Chief Executive Officer. The Board has initiated a search for a new President and Chief Executive Officer with the support of a leading international search firm.

Luna Innovations Incorporated (NASDAQ: LUNA) (the “Company”), a global leader in advanced fiber optic-based technology, today announced it will delay the release of its fourth quarter and fiscal year 2023 financial results and the subsequent conference call.

Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced fiber optic-based technology, today announced that company executives will participate in the 26th Annual Needham Growth Conference in New York City, New York. Scott Graeff, President and CEO; George Gomez- Quintero, CFO; and Brian Soller, CTO and EVP, Corporate Development, will present on Thursday, January 18, 2024, at 8:45 a.m. ET. A webcast of the presentation will be posted on the investor relations section of Luna’s website at http://ir.lunainc.com/ and can be accessed at https://wsw.com/webcast/needham134/luna/2252448. A replay of the presentation will be available following the event. Management will also conduct meetings with investors throughout the conference. To arrange a meeting, please contact conferences@needhamco.com.

Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced fiber optic-based technology, today announced a $50 million investment by White Hat Capital Partners (“White Hat”), an investment firm focused on sustainable value creation in technology companies serving mission-critical applications.

Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced fiber optic-based technology, today announced the strategic acquisition of Silixa, a UK-based leader in distributed fiber optic sensing solutions. The acquisition further propels Luna’s position in the fiber optic sensing market, adding capabilities in distributed acoustic sensing (DAS), distributed temperature sensing (DTS) and distributed strain sensing (DSS) that offer enhanced performance for applications in energy, natural environments, mining and defense.

Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced fiber optic-based technology, today announced that it has extended its existing relationship with Northrop Grumman by securing a new, multi-unit, multi-million dollar order for its OBR 6200 portable backscatter reflectometer. The order was placed under the auspices of the multi-year agreement the company announced last December.

The operator of the Trans-Anatolian Natural Gas Pipeline (TANAP) commissioned the largest gas pipeline and fiber-optic monitoring solution ever installed to ensure transcontinental gas supply from Azerbaijan to the EU.

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, 2023.

Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced optical technology, today announced a large contract in support of a major technology provider’s hyperscale data centers. The provider will employ Luna’s polarization control technology to help improve the accuracy of tests it performs on components it installs in its data centers.

Roanoke, VA, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Luna Innovations Incorporated (NASDAQ: LUNA) announced today it will report its third-quarter financial results for the period ended September 30, 2023, before the open of the stock market on Tuesday, November 14, 2023.  Following the release, Scott Graeff, President and Chief Executive Officer; George Gomez-Quintero, Chief Financial Officer; and Brian Soller, Chief Technology Officer will host a conference call at 8:30 a.m. Eastern to discuss the third-quarter 2023 earnings results.

Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced fiber optic-based technology, announced that George Gomez-Quintero is joining the company as Chief Financial Officer (CFO) today. Mr. Gomez-Quintero will succeed current CFO Gene Nestro, who has agreed to assist the company through mid-2024 to ensure a smooth transition. Mr. Gomez-Quintero will lead Luna’s Finance organization and represent Luna in communications with investors, lenders and rating agencies. As a member of the company’s executive team, he will report to President and CEO Scott A. Graeff.

Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced fiber optic-based technology, announces its continued successful application of fiber optic sensing-based traffic monitoring with a recent deployment for the state of Utah Department of Transportation (DOT). The Luna traffic monitoring solution provides accurate and timely information across both urban and rural roadways. The unique and cost-effective system is capable of determining average traffic speed, detecting slow or stopped traffic, and estimating journey times between set locations.

Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced fiber optic-based technology, won a large contract to provide heat detection monitoring of 40 kilometers of conveyor belt in 11 South African mines. Luna’s contract is with a leading South African provider of risk-management solutions that is providing services to the operator of the mines.

Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced optical technology, today announced its financial results for the three and six months ended June 30, 2023.