Luna Innovations Incorporated (NASDAQ:LUNA) Q3 2019 Earnings Conference Call - Final Transcript

Nov 05, 2019 • 05:00 pm ET

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Luna Innovations Incorporated (NASDAQ:LUNA) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon, ladies and gentlemen, and welcome to the Q3 2019 Luna Innovations Incorporated Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference call is being recorded.

And I would like to turn the conference over to your host, Allison Woody, Director of Administration. Ma'am, you may begin.

Executive
Allison Woody

Thank you. Good afternoon and thank you for joining us today. This afternoon, we issued our third quarter fiscal 2019 earnings press release. In addition, we posted to the investor relation section of our website a presentation with supplemental information for the quarter. If you do not have a copy of the release or the supplemental materials, please check our website at lunainc.com. We will also post a replay of this call to our website.

Some of our comments and discussions today are based on non-GAAP measures, specifically adjusted EBITDA. These adjusted numbers exclude the effect of certain non-cash expenses and other items. The adjusted results are a supplement to the GAAP financial statements. Luna believes the presentation and exclusion of these items is useful in order to focus on what we deem to be a more reliable indicator of ongoing operating performance.

Before we proceed with our presentation today, let us remind you that statements made on this conference call, as well as in our public filings, releases and websites, which are not historical facts, may be forward-looking statements that involve risks and uncertainties and are subject to changes at any time, including, but not limited to statements about our expectations regarding future operating results or the ongoing prospects of the company. Actual results may differ materially as a result of a variety of factors. More complete information regarding forward-looking statements, risks and uncertainties is available in the company's SEC filings, which can be found on the SEC website and our website. We disclaim any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments except as required by law.

After our prepared remarks, Scott Graeff, our President and Chief Executive Officer, Dale Messick, our Chief Financial Officer, and Brian Soller, Senior Vice President and General Manager of our Lightwave Division will be available to take your questions.

And at this time, I'd like to turn the call over to Scott.

Executive
Scott A. Graeff

Good afternoon, everyone and thanks for joining our call. As Allison mentioned, we issued our third quarter fiscal 2019 press release at market close. Q3 was truly a quarter of significant progress for Luna. And as always, I have to start by thanking my Luna colleagues. Delivering a string of strong consecutive quarterly performance comes from working collaboratively as a team. And this team has worked incredibly hard to deliver the results you're hearing about today. You will see that we drove very strong financial results and I'll cover