Quantenna (QTNA) Tops Q4 EPS by 4c, Slight Beat on Revenues; Offers 1Q18 Revenue Outlook Above Consensus

Quantenna (NASDAQ: QTNA) reported Q4 EPS of $0.01, $0.04 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $41.28 million versus the consensus estimate of $41.02 million.

Fourth Quarter and Fiscal Year 2017 Company Highlights

• Revenue of $176.4 million in fiscal year 2017 represented year over year growth of 37% compared to fiscal year 2016. Revenue of $41.3 million in the fourth quarter represented year over year growth of 10% over the fourth quarter of 2016.
• GAAP gross margin of 50.0% in fiscal year 2017 compared to GAAP gross margin of 49.9% in fiscal year 2016. Fourth quarter GAAP gross margin of 51.6% compared to 51.5% in the fourth quarter of fiscal year 2016.
• GAAP operating loss of $(0.9) million and non-GAAP operating income of $9.9 million in fiscal year 2017, compared to GAAP operating loss of $(0.8) million and non-GAAP operating income of $2.3 million in fiscal year 2016.
• Cash from operations totaled $6.6 million in fiscal year 2017, compared to $2.3 million in fiscal year 2016.
• Wave 3 10G has achieved market acceptance as demonstrated by nationwide deployment at a major cable MSO using our technology exclusively in their flagship next generation gateway.
• Announced the QSR10R-AX, the industry's first solution to combine three 4x4 802.11ax radios and integrated CPU cores for optimal mesh repeating functionality. It supports the newest Wi-Fi standard, 802.11ax.

GUIDANCE:

Quantenna sees Q1 2018 EPS of $0.00-$0.02, versus the consensus of $0.01. Quantenna sees Q1 2018 revenue of $43-45 million, versus the consensus of $42.68 million.

For earnings history and earnings-related data on Quantenna (QTNA) click here.

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