Aquantia Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenue of $30,432,000 compared to $25,164,000 a year ago. Loss from operations was $1,192,000 compared to $355,000 a year ago. Loss before income tax expenses was $901,000 compared to $1,841,000 a year ago. Net loss was $833,000 or $0.02 per basic and diluted share compared to $1,332,000 or $0.29 per basic and diluted share a year ago. Non-GAAP net income was $338,000 or $0.01 per basic and diluted share compared to $23,000 a year ago. Non-GAAP loss from operations was $21,000 compared to $40,000 a year ago. Cash flow used for operations for the second quarter was $3.4 million compared to cash flow from operations of $7.8 million in the prior quarter.

For the six months, the company reported revenue of $58,790,000 compared to $48,807,000 a year ago. Loss from operations was $2,933,000 compared to $1,027,000 a year ago. Loss before income tax expenses was $2,394,000 compared to $3,715,000 a year ago. Net loss was $2,201,000 or $0.07 per basic and diluted share compared to $3,357,000 or $0.74 per basic and diluted share a year ago. Non-GAAP net loss was $44,000 compared to $1,092,000 a year ago. Non-GAAP loss from operations was $776,000 compared to $462,000 a year ago.

For the third quarter 2018, the company expects revenue to be in the range of $31.75 million to $33.75 million, gross margin to be in the range of 57% to 59% and operating expenses to be in the range of $20.0 million to $22.5 million, which includes stock-based compensation expenses in the range of $2.0 million to $2.4 million. The company estimates tax provision for the third quarter will be $100,000.