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- DZS Inc DZSI reported first-quarter FY21 revenue growth of 70.7% year-on-year to $81 million from mobile edge transport and broadband connectivity solutions, beating the analyst consensus of $71.9 million.
- Asia generated $42.9 million in revenue, the Americas (North and Latin America) revenue of $20.2 million increased 72.4% Y/Y, and EMEA revenue grew 58% Y/Y to $17.9 million.
- The fixed broadband connectivity portfolio constituted 71.9% of the revenue mix, and mobile solutions represented 28.1% of total revenue. Mobile revenue rose 635% to $22.8 million.
- Backlog rose 49% quarter-on-quarter to $106 million.
- North American order growth rose over 100%, EMEA orders grew 60%, and Asia orders rose 163%.
- The company reported an adjusted gross margin of 35%, the highest since Q1 2018. Adjusted operating margin was 3.2%.
- Adjusted EBITDA improved by $8.4 million Y/Y to $3.6 million, signifying a 4.4% margin.
- Non-GAAP EPS of $0.1 beat the analyst consensus of $0.22 per share loss.
- The company held $63.7 million in cash and equivalents.
- Guidance: Q2 net revenue guidance lies between $76 million and $81 million, versus the analyst consensus of $78.39 million.
- Price action: DZSI shares traded higher by 5.06% at $15.78 on the last check Monday.
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