Luna Innovations INC: insider trades · United States · SEC (Form 4)

About Luna Innovations INC

LUNA Innovations Inc. is a U.S.-based technology company, historically listed on NASDAQ and now primarily followed in the OTC market after its delisting/suspension from NASDAQ in early 2025; it remains a publicly traded U.S. issuer and a niche industrial technology name rather than a broad-based hardware company. The firm was founded in 1990 in Virginia and is headquartered in Roanoke, Virginia. For investors, Luna is best understood as a small-cap advanced optical technology company with meaningful R&D intensity and exposure to end markets such as telecommunications, aerospace, defense, energy, and infrastructure. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1239819/000123981923000044/luna-20221231.htm?utm_source=openai)) Luna’s business model centers on two core product families. First are fiber-optic test, measurement, and control products used to evaluate communications networks and photonics components in laboratory and production environments. These tools support the development and qualification of high-speed fiber-optic components, network assemblies, and related optical systems. Second are distributed fiber-optic sensing solutions, which turn optical fiber into a continuous sensor to measure strain, temperature, and vibration across structures and critical assets. The company also markets terahertz-based gauging and imaging products used for thickness measurement and non-destructive inspection. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1239819/000123981923000044/luna-20221231.htm?utm_source=openai)) From a competitive standpoint, Luna occupies a specialized position built on proprietary optical technology, application know-how, and customer-specific engineering. Its value proposition is strongest where conventional measurement tools are less effective: precision testing in telecom/photonics, structural health monitoring, industrial process development, and monitoring of critical assets. The customer base is diversified and includes telecommunications companies, defense agencies, system integrators, OEMs, research labs, distributors, and strategic partners. That breadth is helpful, but the company’s relatively small scale means it remains sensitive to capital spending cycles, project timing, and adoption rates in its target niches. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1239819/000123981923000044/luna-20221231.htm?utm_source=openai)) Geographically, Luna is still anchored in the United States, with Roanoke, Virginia as its operational headquarters and historical ties to Virginia dating back to incorporation in 1990. Public disclosures also indicate international commercial reach, including legacy operations and customer touchpoints in Europe, North America, and the Middle East. In other words, while the company is U.S.-centered, its products are sold into global industrial and telecom ecosystems. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1239819/000123981923000044/luna-20221231.htm?utm_source=openai)) Recent developments matter for the equity story. In 2025, Luna reported continued bookings growth and margin expansion in Q3, suggesting improving commercial momentum in its optical communications test business. Earlier, the company announced the retention of senior industry veterans in 2024 to support strategy, operations, and finance, reflecting a period of transition and management reinforcement. For investors monitoring SEC Form 4 insider activity, Luna remains a relevant name, but the stock also carries heightened liquidity and governance risk following its market transition. ([lunainc.com](https://lunainc.com/index.php/news/luna-innovations-reports-q3-2025-results-including-continued-bookings-growth-and-margin?utm_source=openai))