MoSys, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Revenue Guidance for the Fourth Quarter of 2018 and Provides Earnings Guidance for the Year 2018
For the nine months, the company reported total net revenue of $13,149,000 compared to $5,049,000 a year ago. Loss from operations was $1,614,000 compared to $9,486,000 a year ago. Net loss was $2,149,000 or $0.26 per diluted share compared to $10,142,000 or $1.43 per diluted share a year ago. Non-GAAP net income was $1,539,000 or $0.18 per diluted share compared to loss of $8,454,000 or $1.19 per diluted share a year ago. Adjusted EBITDA was $2,560,000 compared to negative adjusted EBITDA of $7,180,000 a year ago.
The company expects total net revenue for the fourth quarter of 2018 to be in the range of $3.2 million to $3.5 million. The mid-point of this guidance represents an expectation for full year revenue to increase approximately 87% over 2017. The company also expects to achieve profitability on a non-GAAP basis for the full year.