Adesto Technologies Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of $11,307,000 compared to $10,176,000 a year ago. Loss from operations was $2,553,000 compared to $1,290,000 a year ago. Loss before provision for taxes was $2,748,000 compared to $1,526,000 a year ago. Net loss was $2,775,000 or $0.18 per basic and diluted share against $1,540,000 or $0.10 per basic and diluted share a year ago. Non-GAAP loss from operations was $1,420,000 compared to $2,135,000 a year ago. Non-GAAP net loss was $1,642,000 compared to $2,385,000 a year ago. Adjusted LBITDA was $1,088,000 compared to $1,869,000 a year ago. Non-GAAP basic and diluted net loss per share was $0.10 compared to $0.16 a year ago.

For the second quarter of 2017, the company expects revenue to range between $12.8 million and $13.1 million. Gross margin is expected to be between 48% and 50%. GAAP operating expenses are expected to range between $8.3 million and $8.5 million, which include approximately $0.9 million in stock-based compensation and $0.3 million in amortization of acquisition-related intangible assets.