NPTN - NeoPhotonics falls 5% amid soft second-quarter guidance

NeoPhotonics (NPTN) has fallen 5.4% after hours following its Q1 earnings report, where it topped analyst consensus on top and bottom lines but offered light guidance for the current quarter. Revenues fell 37% from the prior year, and declined 11% from last quarter, to $60.9M. Gross margin (non-GAAP) also fell sequentially, to 22.4% from 24.7% last quarter. And net loss per share worsened slightly, to $0.15 from last quarter's loss of $0.14/share. Products for 400G and above applications grew 134% from the prior year. "We demonstrated transmission of 400G data rates over 800 km using our 400ZR+ coherent modules,” says CEO Tim Jenks. “We are excited about the prospects these modules are demonstrating for the next generation of highest speed over distance interconnects." Liquidity was $111M at quarter-end. For Q2, it's guiding to revenue of $59M-$65M (light of consensus for $66.7M), gross margin of 17-21% (non-GAAP), operating expenses of $22.5M-$23.5M,

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NeoPhotonics falls 5% amid soft second-quarter guidance