Intermolecular, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company has posted revenue for the third quarter of 2018 was $7.9 million, a decrease of 20% from $9.8 million in the second quarter of 2018, and a decrease of 9% from $8.6 million in the same period a year ago. Net loss totaled $0.7 million, or $0.01 per basic and diluted share, compared to net income of $0.5 million, or $0.01 per basic and diluted share in the second quarter of 2018, and an improvement from a net loss of $1.8 million, or $0.04 per basic and diluted share in the same period a year ago. Non-GAAP net loss, which excludes stock-based compensation expense, for the third quarter of 2018 totaled $0.5 million, or $0.01 per basic and diluted share, compared to non-GAAP net income of $0.7 million, or $0.01 per basic and diluted share in the second quarter of 2018, and an improvement from a non-GAAP net loss of $1.6 million, or $0.03 per basic and diluted share in the same period a year ago. Adjusted EBITDA totaled $0.5 million, compared to $0.1 million in the same period a year ago. Loss from operations was $0.932 million against $1.962 million a year ago. Non-GAAP operating loss was $0.790 million against $1.720 million a year ago.

Revenue for the first nine months of 2018 was $27.3 million, an increase of 3% from $26.7 million in the same period a year ago. Net loss totaled $0.8 million or $0.02 per basic and diluted share, an improvement from a net loss of $10.5 million, or $0.21 per basic and diluted share in the same period a year ago. Non-GAAP net loss for the first nine months of 2018 totaled $0.2 million, or $0.00 per basic and diluted share, an improvement from a non-GAAP net loss of $9.3 million, or $0.19 per basic and diluted share in the same period a year ago. Adjusted EBITDA totaled $3.3 million, an improvement from an adjusted EBITDA loss of $2.8 million in the same period a year ago. Loss from operations was $1.46 million against $10.94 million a year ago. Net cash provided by operating activities was $5.048 million against $0.325 million a year ago. Purchase of property and equipment was $0.620 million against $0.705 million a year ago. Purchase of investments was $21.968 million against $15.505 million a year ago. Non-GAAP operating loss was $0.843 million against $9.722 million a year ago.

For the quarter ending December 31, 2018, the company expects revenue is projected to be in the range of $5.2 million to $5.8 million; Net loss is projected to be between $2.8 million and $3.2 million, or $0.06 per share; Non-GAAP net loss is projected to be between $2.4 million and $2.8 million, or $0.05 per share and $0.06 per share, respectively; and adjusted EBITDA loss is projected to be between $1.8 million and $2.2 million.