Aquantia Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Third Quarter of 2018
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.