LLNW - Limelight Networks stock slipped on ambiguous Q2 outlook

Limelight Networks (NASDAQ:LLNW) plunges after Q1 results. The company reported organic growth of 6% for the quarter. “Given we anticipate closing the Edgecast acquisition in the next 30-60 days, we are maintaining our full year guidance. We expect to begin working with the Edgecast team on a bottom-up forecast for the remainder of the year immediately after we close and will provide combined guidance for the year as we finish that process,” said Dan Boncel, Chief Financial Officer. “In the short term, we expect second quarter revenue to be consistent with the first. With continued tight management of network and operating expenses, we would expect gross margin and adjusted EBITDA margin to continue its methodical expansion.” FY2022 Outlook: Revenue: $240M to $250M vs. consensus of $246.6M; Non-GAAP EPS of -$0.06 to -$0.01 vs. consensus of -$0.05; Adjusted EBITDA of $24M to $28M; Capital expenditures of $20M to $25M.

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Limelight Networks stock slipped on ambiguous Q2 outlook