Limelight Networks Issues Financial Outlook for 2020
Limelight Networks has issued initial guidance for 2020.
- Revenue between $220 and $235 million
- GAAP earnings of between $(0.10) and $0.00
- Non-GAAP earnings per share between $0.00 and $0.10 per share
- Adjusted EBITDA between than $25 and $35 million
- Capital Expenditures between $25 and $30 million
“Our strategic focus on video and edge services is developing into an exceptional opportunity to grow at a faster rate than ever before. The movement of video content delivery from over-the-air broadcasts and cable to internet-based delivery is accelerating our top-line growth. This trend is firmly in place in the United States, and we are convinced it is a global trend with quicker adoption in newer markets. We are judiciously deploying global infrastructure and operating resources in a manner that we believe will allow us to monetize this opportunity,” said Bob Lento, Limelight’s Chief Executive Officer.
“Our business has meaningfully improved through 2019. We are confident that our 2019 exit run rates will be strong, which gives us conviction in our ability to deliver against our 2020 guidance. We believe the four quarters in 2020 will show sequential revenue growth and related margin improvements. Our plan is to continue to invest in the business to capture growth opportunities. At the same time, the business model leverage should be evident in the anticipated improvement in operating margins and free cash flow in light of the expected decline in capital expenditures,” Lento added.