Overview
- Revenue reached $79.4 million for the quarter, topping a roughly $76.4 million Wall Street consensus and rising about 8.8% year over year on a pro forma basis.
- The company reported a GAAP net loss of $6.4 million, or $0.15 per share, while adjusted results were essentially breakeven at about a $59,000 loss, or roughly $0.00 per share.
- Full-year guidance projects a per-share loss of $0.33 to $0.23 with revenue between $312 million and $314 million.
- Shares fell roughly 13% intraday after the results and the announcement that CEO Jim Clemmer will retire.
- Clemmer, who has led the company since 2016, will remain in place during a search for his successor that the board has initiated.