Limelight Networks (LLNW) Misses Q4 EPS by 5c, Revenues Miss

Limelight Networks (NASDAQ: LLNW) reported Q4 EPS of ($0.03), $0.05 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $55.39 million versus the consensus estimate of $61.39 million.

• Record annual revenue of $230.2 million increases 15% from 2019
• 2020 GAAP net loss of $(19.3) million versus $(16.0) million in 2019
• Full-year Adjusted EBITDA of $24.5 million rises 35% from 2019
• Bob Lyons named new President and Chief Executive Officer

“I am excited to join Limelight, a company with an impressive list of blue-chip customers, in a large and growing market with a unique set of capabilities and solid foundation to build on,” said Bob Lyons, President and Chief Executive Officer. “Our global network and connectivity to billions of people, combined with the digital transformation creates enormous opportunity for us in edge content delivery, computing and cybersecurity.”

“Our immediate focus is the challenges we faced in the fourth quarter, specifically top-line growth and the resulting pressure on margins. Quite frankly, performance in these areas is not where it should be. I believe in our ability to close the gaps and position Limelight as a leader delivering edge-based solutions. While there is no doubt much has been accomplished, I know that our best days are ahead of us. I am confident in the direction we are headed, in our ability to better execute on a refined strategy and pursue rule-of-40 performance,” said Lyons.

For earnings history and earnings-related data on Limelight Networks (LLNW) click here.

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