Q1 2020 Earnings Call
I see question Star then one.
[music].
They are doing.
Thank you operator.
[music].
So.
Well, there's a base management team joining me today.
The Betty.
[music].
Yes.
[music] networks issued a press release.
Additionally, as published presentation.
[music].
During the course of today's call that is what will make forward looking statements, including statements regarding chase for future operating results.
What are your continued reductions in operating expenses.
[music].
Right well they do about they just overall.
We believe that.
Did you build momentum going forward.
They do go to future opportunity and ability to execute on the water.
Expectations due to market.
The general overall.
The development warm up.
80 customers.
[music].
These statements are based work.
[music].
Maybe seven.
These forward looking statements involve a number with certainty so I look at the other companies control such as social impact.
[music] differ materially.
Rely on the future results.
And would not impair the update.
[music] statement, whether to go live nation future events or otherwise.
Do you.
You know with the exception of revenue financial measures discussed today.
Yep.
[music].
Non-GAAP financial measures are intended to be considered acreage.
Yes.
The results prepared in accordance with.
And they may be different non-GAAP financial measure.
Companies, a reconciliation between GAAP and non-GAAP measures can be found in the press release today and on the trended quarterly financial statements.
So.
'cause they will provide current expectations for operating expenses gross margin second quarter 2020 operate operating expense trends for the full year on a non-GAAP.
Well, there's probably not able to make available a reconciliation of non-GAAP guidance.
Corresponding GAAP mechanism.
[music] high variability and low visibility with respect to the charges which exceeded.
Sure.
With all that said I'd now like all over.
[music].
Thank you all.
[music].
To begin I'd like to.
All in line.
And Oh their hard work, but more than they do.
[music].
Hi, then organization protecting the health and wellbeing.
[music].
Well, the Bob but will depend on the had begun.
[music].
And that.
Got it down and that's all that much left off.
[music].
Okay. So you can provide.
[music].
<unk>.
[music].
Well that submission update.
On today's call I hope the variety.
[music].
What yes.
[music].
And then.
Yeah.
Yep.
I thought the movie and then.
No that.
[music].
Got it.
It does writing off.
[music].
Our final attempt.
To drive Boston be thinking.
We delivered.
$2 million.
In the fourth quarter.
And then by.
On that yet.
[music].
Our gross margin.
[music] Biden.
Operating expenses worldwide in the medical I'll be providing guidance range.
[music].
Leading mainly that focus on improving execution and <unk>.
[music] on an annualized.
And I know.
[music].
Paul maybe slowing in the state auto, but I know, but.
Turning into a box.
Yeah.
Okay and then.
But maybe you want.
[music].
<unk> based upon that and momentum going forward with strong will go on improving execution in audience.
[music].
Something like that weekend.
He lots telecom operator in the Americas and.
Good day.
Yes project to help in <unk> spending.
[music] be anything yet again.
You bet basin.
We wanted it competitive Bob.
[music].
That women.
Hey, Bob maybe that plummeted in India, and let them, even without the negative but bombing.
Bye.
[music].
Net worth anything had become.
[music].
Got it rapidly.
Moving to Corona light.
And you get one did you.
You do demonstrate good bye bye.
And second data man and he can adopt.
[music].
Ladies and gentlemen.
As to how the quarter of that.
Good luck of India rapidly changing.
And I'd be a waterfall.
I do they have to do anything as we understand.
You do the TV.
And then make that well in India.
And I've been making here you got like that.
And then I'll provide little or no.
Yep.
[music] into the second quarter.
We ended the quarter winds down.
[music] pipeline.
And then.
[music].
That's right.
The order book that I look at the moment in Japan and India.
Okay, and then go live in a good adoption.
[music] back.
Making $4 million on a go into money.
[music].
Yeah.
[music].
Java.
[music] ahead.
Right I, just spending bad because I like the timeline.
That's out into the new yet, but they said well offset by quality today problematic.
With that and up 20% year over year.
Finally, the other thing about it causes and driven by strong demand probably not but.
[music].
In the.
[music].
It's been bought anything.
We continue to have a strong market position.
With that.
[music].
<unk>.
But.
What about the corridor, we started to see engagement.
Right.
We remain cautiously optimistic about.
Indeed.
Five you did in demand.
You need to get out the Canadian at the lighter and bet networks.
[music].
Thanks.
Good I would note.
He became limited.
Well I know I've known you made bombing.
And demand remains strong.
[music] activity.
Got it.
As it goes you had made a decision and third.
Stop although back to the right.
[music].
Don will provide an outlook I know.
But we expect to maintain probably community in the second order as you can do you can make all good.
I'll begin.
As it did pick up.
And although they could be.
We hope to they're going to providing estimate about I would expect picking it up.
The attitude on balance sheet.
[music] Hello.
By the Dallas.
With that I'd now.
On the Hollywood.
During the quarter opinion.
[music].
Thank you bye.
If you could share revenue in the first quarter was $53.8 million up 7% year over year and above the guidance range.
First quarter product revenue was $37 million representing.
Seven total revenue.
Service revenue was $22.
[music].
Security driven product revenue comprised 66%.
You want.
As a reminder, beginning.
2018.
[music].
Moving to our revenues in the geographic standpoint revenue from New York.
[music].
The.
Revenue was $76 million up $4.5 million from a year ago period based on strong start.
Service providers continue spending appear to be Olympics.
Sure if somebody is going to build the war.
[music].
So this provides a value assessment.
We scheduled start.
Asia Pacific revenues excuse me.
[music] this year.
As we moved beyond what you all metrics discussed.
Non-GAAP basis.
[music].
A full reconciliation of GAAP non-GAAP results provided activities and you know.
[music].
Our first quarter, but it looks like.
[music] and at the high end of the guidance range.
First quarter product with smoking with 77, 7%.
[music] 60 basis points better than year ago period.
We ended the quarter.
[music].
As a reminder of annualized savings specialization and other cost savings measures will enable reduction.
[music].
Non-GAAP operating expenses in Q1 $38 million.
Sequentially.
<unk>.
[music].
First quarter.
Continued focus on execution.
[music] has contributed to this year.
Non-GAAP.
[music].
Oh sure bases and above guidance range.
[music].
During the quarter we generated.
[music] cash from operations.
In dollars.
[music].
If you could show earlier, given the uncertainty environment.
[music].
In addition, Stephanie.
[music].
In addition, we expect.
[music].
We'll now begin question answer session.
Thanks.
All right in line.
[music].
Two questions.
Yeah.
[music].
First question.
[music].
So please go ahead.
Hi.
Well question Theres one it.
Order trends are you seeing it outside of Asia Pacific.
Yep.
And the Fiveg deployment.
Making it hard given that overnight.
Travelers restricted.
[music].
Thanks for the call appreciate it.
[music].
Yeah, I do so I do hope I thought I'd say a bad debt.
[music].
Yep.
[music].
So.
[music].
Are you able to.
Capturing new customers in this environment are you rely on all your previous.
[music].
He is talking about operating expenses being down sequentially is that yes.
[music].
In that.
[music].
Yeah.
[music].
Hi, Andy.
Please go ahead.
[music].
Are you ready mixed results.
Yeah.
Talk about cloud providers.
[music].
Yep.
The second so I think you know maybe you guys you didn't do they see the ocean bought back, but I don't really.
With the Wolf.
And then maybe.
Obviously building.
I believe in north.
And do more to access third anybody out there.
Hello.
As normal.
[music].
So in that context.
Some of that they were delighted by then.
[music].
Hello.
In the cloud provider.
[music].
And are all doing them rolled out.
[music] dropping than that.
The leasing.
A good bye.
[music].
Yep.
At the beauty that mobile gaming products, but also be.
[music].
You bet on them.
[music].
Dave Yacht right.
[music].
Oh invited to.
[music] outbid into opt out.
Area.
Yeah, No I didn't.
Good question, then I'd be third and yet you didn't have before God delight.
<unk>.
But then you are correct in that.
Most of them up.
[music].
Has been the do a handle that.
[music].
I don't know they have good deals with the idea that.
Even beyond human topic also oh.
[music].
So David and good evening Bye bye.