Luna Innovations Names George Gomez-Quintero as Chief Financial Officer
October 17 2023 - 8:30AM
Business Wire
Company reiterates annual guidance
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.
“With the completion of our five-year strategic plan and our
continued pursuit of opportunities to further expand our global
footprint and elevate our international presence, we’re thrilled to
welcome a leader like George with extensive M&A, public market,
and operations experience and someone with technical experience at
scale,” Graeff said. “George’s deep expertise and his track record
of partnering with senior leadership teams to maximize shareholder
value and drive transformations that fuel growth are exactly the
kinds of skills we need in a CFO as we move forward.”
Gomez-Quintero most recently served as Senior Vice President of
Corporate Finance at Intelsat, a global satellite communications
provider delivering internet connectivity to media companies,
mobile network operators, commercial airlines, and the U.S. and
foreign governments. In his role, he led a global team of 40
employees spanning five countries accountable for the company’s
Financial Planning & Analysis, Investor Relations, Treasury,
Procurement, and Credit and Collections functions.
Prior to Intelsat, Gomez-Quintero was the Chief Operating
Officer at JSI, a leader in broadband solutions and consulting. He
previously held senior financial roles at XFL, Time Warner Cable
and Cleartel Communications. He holds an M.B.A. from Cornell
University and a B.B.A., Finance, from Iona College.
“I’m grateful for this opportunity to join Luna, a company where
the potential for growth and value creation is tremendous, given
the smart and passionate people, the culture of innovation, and
global footprint. I am looking forward to being a strong business
partner to the management team and all Luna employees, as we
continue the work of scaling for growth and maximizing shareholder
value,” Gomez-Quintero said.
Graeff and Luna are thankful for Gene Nestro’s four years of
service.
“Gene is leaving Luna having completed a significant amount of
foundational work in our finance department. He was instrumental in
implementing financial systems for Luna and helping us strengthen
our bench of financial talent,” Graeff said. “His experience in
financial strategic planning was especially helpful as we navigated
global acquisitions and expansion. We wish him all the best for the
future and thank him for his support of a smooth transition.”
Nestro offered, “I’m proud to have been a part of Luna’s
progress over these last several years. The company has made
exciting advances, and I have every confidence that Luna’s future
is bright.”
Nestro’s departure is not a result of any disagreement regarding
the company’s financial statements or disclosures.
Reaffirmation of 2023 Full-Year
Outlook: Luna is reaffirming the 2023 outlook provided
on its second-quarter fiscal 2023 earnings call:
- Total revenues in the range of $125 million to $130 million for
full fiscal 2023; and
- Adjusted EBITDA in the range of $14 million to $18 million for
full fiscal 2023.
In addition, Luna expects total revenues in the range of $29
million to $32 million for the third quarter 2023.
Luna is not providing an outlook for net income, which is the
most directly comparable generally accepted accounting principles
("GAAP") measure to Adjusted EBITDA, because changes in the items
that Luna excludes from net income to calculate Adjusted EBITDA,
such as share-based compensation, tax expense, and significant
non-recurring charges, among other things, can be dependent on
future events that are less capable of being controlled or reliably
predicted by management and are not part of Luna's routine
operating activities. The outlook above does not include any future
acquisitions, divestitures, or unanticipated events.
About Luna Luna Innovations
Incorporated (www.lunainc.com) is a leader in optical technology,
providing unique capabilities in high-performance, fiber
optic-based, test products for the telecommunications industry and
distributed fiber optic-based sensing for a multitude of
industries. Luna’s business model is designed to accelerate the
process of bringing new and innovative technologies to market.
Forward-Looking Statements
The statements in this release that are not historical facts
constitute “forward-looking statements” made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995 that involve risks and uncertainties. These statements include
Luna's expectations regarding strategic growth, management
skillsets, corporate culture, global expansion and its projected
full year 2023 and third quarter of 2023 financial results and
outlook. Management cautions the reader that these forward-looking
statements are only predictions and are subject to a number of both
known and unknown risks and uncertainties, and actual results,
performance, and/or achievements of Luna may differ materially from
the future results, performance, and/or achievements expressed or
implied by these forward-looking statements as a result of a number
of factors. These factors include, without limitation, failure of
demand for Luna's products and services to meet expectations,
failure of target markets to grow and expand, technological and
strategic challenges, uncertainties related to the macroeconomic
conditions and those risks and uncertainties set forth in Luna’s
Form 10-Q for the quarter ended June 30, 2023, and Luna's other
periodic reports and filings with the Securities and Exchange
Commission ("SEC"). Such filings are available on the SEC’s website
at www.sec.gov and on Luna’s website at www.lunainc.com. The
statements made in this release are based on information available
to Luna as of the date of this release and Luna undertakes no
obligation to update any of the forward-looking statements after
the date of this release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231017366763/en/
Investor Contact Allison Woody Luna Innovations
Incorporated Phone: 540.769.8465 Email: woodya@lunainc.com
Luna Innovations (NASDAQ:LUNA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Luna Innovations (NASDAQ:LUNA)
Historical Stock Chart
From Apr 2023 to Apr 2024