Quantenna Reports Record Revenue in Second Quarter Results

Quantenna Communications (NASDAQ:QTNA) announced preliminary unaudited financial results for the second quarter ended July 1, 2018.

The company, a global leader and innovator of Wi-Fi solutions reported record revenue of US$53.4 million, up 13 percent on a year-over-year basis and 18 percent as compared to previous quarter.

As quoted in the press release:

“The strength of our second quarter operating results further demonstrates the success of our product offerings. During the quarter, our latest cable MSO initiated its full volume rollout of our Wave 3 10G solution. With strong engagement and positive feedback from our customers, we are also excited about our upcoming 802.11ax solutions,” commented Dr. Sam Heidari, Chairman and Chief Executive Officer.

Second Quarter Company Highlights

• Record revenue of $53.4 million, representing year over year growth of 13% over the second quarter of 2017 and 18% sequential growth over the first quarter of 2018.

• Second quarter GAAP diluted EPS of $0.03 compares to $0.00 in the second quarter of 2017. Second quarter non-GAAP dilutive EPS of $0.12 compares to $0.07 in the second quarter of 2017.

• Second quarter GAAP operating income declined 15% compared to the second quarter of 2017. Second quarter non-GAAP operating income grew 59% compared to the second quarter of 2017.

• Record revenue from both our Wave 3 10G and Wave 2 product segments.

• Quantenna’s Spartan solutions are now successfully integrated into more than 20 shipping OEM designs targeting turnkey implementation by service providers.

• The latest cable MSO initiated a full volume rollout using our Wave 3 10G technology in their next generation gateway.

• Introduced ViSiON, an innovative cloud-based service for Quantenna enabled devices using advanced analytics to accelerate and improve service provider deployments of best-in-class Wi-Fi devices.

• Announced the new QSR10GU-AX Plus targeting gateways and access points based on the draft IEEE 802.11ax standard that incorporates many unique performance features only offered by Quantenna.

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