Adesto Technologies Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter and Full Year of 2018
For the year, revenue was $56,112,000 against $43,968,000 a year ago. Loss from operations was $4,831,000 against $10,303,000 a year ago. Loss before benefit from income taxes was $5,587,000 against $11,628,000 a year ago. Net loss was $5,688,000 against $11,612,000 a year ago. Basic and diluted net loss per share was $0.31 against $0.77 a year ago. Non-GAAP loss from operations was $107,000 against $7,687,000 a year ago. Non-GAAP net loss was $964,000 against $8,996,000 a year ago. Adjusted EBITDA was $1,302,000 against negative adjusted EBITDA of $6,704,000 a year ago. Non-GAAP basic and diluted net loss per share was $0.05 against $0.60 a year ago.
For the first quarter of 2018, the company expects revenue to range between $14.7 million and $15.0 million, representing a 31.3% increase year-over-year at the mid-point even when considering the typical seasonality associated with the quarter. Gross margin is expected to be between 46% and 49%.
For the full year of 2018, the company expects non-GAAP spending to increase less than 10% relative to 2017, and that is significantly lower than the expected revenue growth rate in 2018.