Adesto Technologies Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported revenue of $15,239,000 against $11,180,000 a year ago. Loss from operations was $798,000 against $3,469,000 a year ago. Loss before provision for income taxes was $980,000 against $4,063,000 a year ago. Net loss was $997,000 against $4,078,000 a year ago. Net loss per basic and diluted share was $0.05 against $0.27 a year ago. Non-GAAP loss from operations was $2,281,000 against profit of $578,000 a year ago. Non-GAAP net loss was $2,890,000 against net loss of $379,000 a year ago. Adjusted EBITDA loss was $2,035,000 against profit of $938,000 a year ago. Non-GAAP net loss per basic and diluted share was $0.02 against $0.19 a year ago.

For the nine months, the company reported revenue of $39,958,000 against $31,638,000 a year ago. Loss from operations was $4,887,000 against $8,757,000 a year ago. Loss before provision for income taxes was $5,466,000 against $9,844,000 a year ago. Net loss was $5,523,000 against $9,890,000 a year ago. Net loss per basic and diluted share was $0.31 against $0.66 a year ago. Non-GAAP loss from operations was $1,087,000 against $7,284,000 a year ago. Non-GAAP net loss was $1,723,000 against $8,417,000 a year ago. Adjusted LBITDA was $51,000 against $6,593,000 a year ago. Non-GAAP net loss per basic and diluted share was $0.10 against $0.56 a year ago.

For the fourth quarter of 2017, the company expects revenue to range between $15.8 million and $16.2 million, resulting in another quarter of record revenue and approximately 30% year-over-year growth at the mid-point. Gross margin is expected to be between 47% and 50%. GAAP operating expenses are expected to range between $8.1 million and $8.3 million, or $7.1 million and $7.3 million on a non-GAAP basis, which excludes approximately $0.7 million in stock-based compensation expense and $0.3 million in amortization of acquisition-related intangible assets. Amortization of intangible assets will be approximately $300,000, and depreciation and amortization will be approximately $400,000.