Aquantia Corp (AQ) Tops Q2 EPS by 2c, Slight Revenue Beat

Aquantia Corp (NYSE: AQ) reported Q2 EPS of $0.01, $0.02 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $30.4 million versus the consensus estimate of $30 million.

“The circle of Multi-Gig influence continues to widen. In the second quarter, we announced collaborations with tier one service providers in Asia and saw new classes of devices with our Multi-Gig technology announced at Computex. We also announced the first USB to Multi-Gig Ethernet Controller which will enable new levels of wired connectivity for laptop users,” said Faraj Aalaei, Chairman and CEO. “We are very pleased that the strong momentum that we began the year with continues as revenue growth is up in the second quarter by 21 percent over the same period last year. Our Enterprise, Access and Automotive businesses exhibited revenue growth in the quarter driven by strong customer demand across these markets. We expect to see continued growth in the second half of the year as well as a pickup in our Data Center business.”

Second Quarter 2018 Highlights:

• Revenue for the three months ended June 30, 2018 of $30.4 million, an increase of 7 percent sequentially and 21 percent year-over-year;
• Revenue by market for the three months ended June 30, 2018: Data Center revenue of $15.1 million, Enterprise Infrastructure revenue of $11.5 million, Access revenue of $3.6 million, and Automotive revenue of $241 thousand;
• Gross margin of 58 percent for the three months ended June 30, 2018, compared to 57 percent for the three months ended March 31, 2018;
• Operating loss of $1.2 million for the three months ended June 30, 2018, and non-GAAP operating loss of $21 thousand for the same period; and
• Net loss per diluted share of $0.02 for the three months ended June 30, 2018, and non-GAAP net income per diluted share of $0.01 for the same period.

For earnings history and earnings-related data on Aquantia Corp (AQ) click here.

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