Adesto Technologies Reports Second Quarter 2017 Financial Results
ADESTO TECHNOLOGIES CORP COMMON (IOTS)
Last adesto technologies corp common earnings: 3/16 05:11 pm
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US:NASDAQ Investor Relations:
ir.adestotech.com/investor-overview
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Source: GlobeNewswire
SANTA CLARA, Calif., Aug. 03, 2017 (GLOBE NEWSWIRE) -- Adesto Technologies Corporation (NASDAQ:IOTS), a leading provider of application-specific, feature-rich and ultra-low power non-volatile memory products, today announced financial results for its second quarter ended June 30, 2017. Second Quarter Highlights: Record revenue of $13.4 million increased 30.4% from second quarter of 2016 and 18.6% from the first quarter of 2017;GAAP gross margin expanded to 50.1% from 46.0% in the prior year quarter and 49.1% last quarter;GAAP operating expenses were $8.3 million and non-GAAP operating expenses were $7.0 million; andAdjusted EBITDA was a positive $0.1 million, compared to a loss of $1.1 million in the prior quarter and a loss of $2.7 million during the second quarter of 2016. Commenting on the quarter, Narbeh Derhacobian, Adesto’s president and CEO, stated, ”Our achievement of 30% year-over-year revenue growth and positive adjusted EBITDA is further evidence of our continued exec
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