Hot Stock in Focus: Adesto Technologies Corporation (NASDAQ: IOTS)

Shares of Adesto Technologies Corporation (NASDAQ: IOTS) closed with gain/decline of -1.09% to $4.53. Recent traded volume was 399,134 million shares versus to it an average volume of 449,333 shares. The company holds 29.27M shares outstanding and market cap of 132.586M billion. The stock’s day range was recorded between a low of $4.51 and a high $4.75. The one year high of the company is $10.80 and the one year low is $4.42.

Adesto Technologies Corporation (IOTS) recently reported financial results for its second quarter ended June 30, 2018.

Second Quarter and Recent Highlights:

  • Revenue raised 35.6% year-over-year to $18.2M;
  • GAAP gross margin was 42.7%;
  • GAAP operating expenses were $11.7M and non-GAAP operating expenses were $8.3M, both better than expectations;
  • Adjusted EBITDA was a positive $0.1M, contrast to positive $0.1M in the second quarter of 2017;
  • Reported a definitive contract to acquire Echelon Corporation; and
  • Successfully completed public offering of ordinary stock, raising $43.1M in proceeds net of underwriters’ discount.

Second Quarter 2018 Results  

  • Revenue in the second quarter of 2018 of $18.2M was up 35.6% from $13.4M in the second quarter of 2017 and also up from $15.3M in the previous quarter. Second quarter 2018 revenue includes about $2.0M of revenue contribution from S3 Semiconductors following its acquisition on May 9, 2018.
  • Gross margin in the second quarter was 42.7%, contrast to 50.1% in the second quarter of 2017 and 46.9% in the previous quarter.
  • GAAP operating expenses in the second quarter of 2018 were $11.7M contrast to $8.3M in the second quarter of 2017 and $8.1M in the first quarter of 2018. On a non-GAAP basis, operating expenses in the second quarter were $8.3M, contrast to $7.0M in the year-before quarter and $7.4M in the previous quarter.
  • GAAP net loss in the second quarter of 2018 was $5.1M, or ($0.24) per share, contrast to a net loss of $1.8M, or ($0.11) per share, in the second quarter of 2017 and a net loss of $1.1M or ($0.05) per share, in the previous quarter.
  • On a non-GAAP basis, the net loss for the second quarter of 2018 was $1.6M, or ($0.08) per share, contrast to a net loss of $0.5M, or ($0.03) per share, in the second quarter of 2017 and a net loss of $0.4M, or ($0.02) per diluted share, last quarter.
  • Adjusted EBITDA for the second quarter of 2018 was a positive $0.1M contrast to a positive $0.1M in the second quarter of 2017 and a positive $0.3M in the previous quarter.

 

The company plunged -15.64% in past week and declined -26.34% in one month. During the past three month period the stock dropped -22.56% and decreased -49.39% in past six month. During the twelve month it lost -43.37% and year to date performance of -29.77%.

Carl Davis

Carl Davis - Technology Carl Davis works as an editor and emphasizes around breaking news stories. He has a Master’s Degree of BBA in Accounting and Finance. He is a dynamic worker spending most of his time analyzing earnings reports and observing commodities and results. He loves to play music and go out shopping in his spare time. He prepares staff on the better purposes of writing, editing and getting the news out on time correctly. Also, Carl Davis focuses mainly on the effects of activity on the marketplace. He is an editor and reporter of “Technology” category. Address:  4707 White Oak Drive Independence, MO 64055, United States of America Phone Number:  +1 816 678 7172

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