ClearOne, Inc. Reports First Quarter 2024 Financial Results

Business Wire05-20

- Microphone revenue up 31% year over year- -Revenue from Asia including India, the Middle East, and Australia up 18% year over year - -Sequential and Year-over-Year OpEx Reductions Reflect Continued ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2436702841?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/UF1pLI4KFXelAL19vDnHLg--~B/aD0yNzA7dz00ODA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/business-wire.com/ffcfb323e5026d1920111b2097a3564d","is_english":true,"pubTime":"2024-05-20 20:00","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2436702841","market":"us","top_or_hot":-1,"title":"ClearOne, Inc. Reports First Quarter 2024 Financial Results","media":"Business Wire","content":"<div>\n<p>- Microphone revenue up 31% year over year-\n-Revenue from Asia including India, the Middle East, and Australia up 18% year over year -\n-Sequential and Year-over-Year OpEx Reductions Reflect Continued ...</p>\n\n<a href=\"https://finance.yahoo.com/news/clearone-inc-reports-first-quarter-120000989.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ClearOne, Inc. Reports First Quarter 2024 Financial Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nClearOne, Inc. Reports First Quarter 2024 Financial Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-20 20:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/clearone-inc-reports-first-quarter-120000989.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>- Microphone revenue up 31% year over year-\n-Revenue from Asia including India, the Middle East, and Australia up 18% year over year -\n-Sequential and Year-over-Year OpEx Reductions Reflect Continued ...</p>\n\n<a href=\"https://finance.yahoo.com/news/clearone-inc-reports-first-quarter-120000989.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4020","symbol_name":"通信设备","start_time":0,"source_url":"https://finance.yahoo.com/news/clearone-inc-reports-first-quarter-120000989.html","article_id":"2436702841","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/UF1pLI4KFXelAL19vDnHLg--~B/aD0yNzA7dz00ODA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/business-wire.com/ffcfb323e5026d1920111b2097a3564d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2436702841","pubTimestamp":1716206400,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"-Revenue from Asia including India, the Middle East, and Australia up 18% year over year -. \"In the first quarter, although overall revenue declined, there were some bright spots.\" said Derek Graham, CEO of ClearOne. Revenue from our microphone products was up 4% sequentially and 31% year over year. Revenue from Asia, including India, the Middle East, and Australia was up 4.6% sequentially and 18% year over year. We also continued to make steady progress with our cost optimization efforts, reducing operating expenses by 2.7% sequentially and 7.8% year-over-year.\". Graham continued: \"Moving into the second quarter, we are working to build on the revenue growth we have experienced in Asia including India and the Middle East, while working to win back our customers in other global regions, including the Americas, who have defected to competing audio conferencing brands due to our lack of product availability throughout much of 2023. Historically, we have seen a lag of several months betwe","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4020":"通信设备","CLRO":"ClearOne通讯"},"translate_title":"ClearOne，Inc.报告2024年第一季度财务业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CLRO":1},"content_text":"- Microphone revenue up 31% year over year-\n-Revenue from Asia including India, the Middle East, and Australia up 18% year over year -\n-Sequential and Year-over-Year OpEx Reductions Reflect Continued Benefits of Cost Optimization Initiatives -\nSALT LAKE CITY, May 20, 2024--(BUSINESS WIRE)--ClearOne (NASDAQ: CLRO), a global provider of audio and visual communication solutions, reported financial results for the three-month period ended March 31, 2024.\n\"Revenue declined 12.8% sequentially and 13% year over year, primarily due to a significant decrease in revenues from the audio conferencing category, which includes our DSP mixer products. The revenue decline was regionally concentrated, affecting the USA, Europe, and China when compared to 2023-Q1 revenues. We believe this revenue decline was primarily due to the cumulative impact of past production shortages. We have also faced sales headwinds from our products’ lack of Microsoft Teams certification, despite their longtime functional compatibility with this platform. Our work through early 2024 has focused on mitigating these impacts through maintaining consistent dialogues, product demonstrations, and feedback cycles with end users and channel partners, along with improving our visibility at key industry events.\"\n\"In the first quarter, although overall revenue declined, there were some bright spots.\" said Derek Graham, CEO of ClearOne. Revenue from our microphone products was up 4% sequentially and 31% year over year. Revenue from Asia, including India, the Middle East, and Australia was up 4.6% sequentially and 18% year over year. We also continued to make steady progress with our cost optimization efforts, reducing operating expenses by 2.7% sequentially and 7.8% year-over-year.\"\nOperational Highlights\n\nLaunched the DIALOG® 20 USB wireless microphone system at Integrated Systems Europe (ISE) 2024, a major global audiovisual expo. ClearOne’s booth at ISE 2024 recorded a 319% increase in unique visitors compared to the number of unique visitors the Company’s booth recorded in 2023. The DIALOG® UVHF Wireless Microphone System also received AV Technology Magazine’s Best in Show award at ISE 2024, having previously garnered other notable industry awards in 2023.\nAnnounced a one-time special cash dividend of $0.50 per share of ClearOne common stock, payable on April 10, 2024 to shareholders of record on April 2, 2024.\nRegained compliance with NASDAQ’s minimum bid requirement.\n\nGraham continued: \"Moving into the second quarter, we are working to build on the revenue growth we have experienced in Asia including India and the Middle East, while working to win back our customers in other global regions, including the Americas, who have defected to competing audio conferencing brands due to our lack of product availability throughout much of 2023. Historically, we have seen a lag of several months between the time that our professional conferencing products are specified for a project and the date when those products are purchased and installed. Since our product availability was constrained through a significant part of Q4 2023, we believe our revenue could be impacted negatively by these market dynamics through much of Q2 2024.\"\nFinancial Summary\nThe Company uses certain non-GAAP financial measures and reconciles those to GAAP measures in the attached tables.\n\n\n\n●\n\nQ1 2024 revenue was $3.6 million, compared to $4.2 million in Q1 2023 and $4.2 million in Q4 2023. The 0% sequential decrease was driven by reduced demand all product categories except our cameras. We believe the flow of sales orders at the end of Q3 2023 slowed down considerably due to the cumulative impact of past product shortages. The year-over-year decrease was mainly due to sustained inventory sourcing and order fulfillment challenges for the Company’s core audio conferencing and beamforming microphone arrays as a result of delays in the transition of outsourced manufacturing from China to Singapore.\n\n\n\n\n\n\n\n●\n\nGAAP gross profit in Q1 2024 was $1.2 million, compared to $1.3 million in Q1 2023 and $1.6 million in Q4 2023. GAAP gross profit margin was 32% in Q1 2024, compared to 38% in Q4 2023 and 31% in Q1 2023. Gross profit margin improved by approximately 1% year-over-year due to reduced inventory obsolescence costs. Gross profit margin decreased by 13% sequentially due to increased administration and overhead costs as a percentage of revenue and change in the revenue mix of the products.\n\n\n\n\n\n\n\n●\n\nOperating expenses in Q1 2024 improved to $3.2 million, compared to $3.5 million in Q1 2023 and $3.3 million in Q4 2023. Non-GAAP operating expenses in Q1 2024 improved to $3.1 million compared to $3.2 million in Q4 2023 and $3.4 million in Q1 2023. The sequential and year-over-year decrease in non-GAAP operating expenses was mainly due to the continued benefits of the cost-cutting measures initiated in 2022.\n\n\n\n\n\n\n\n●\n\nGAAP net loss in Q1 2024 was $(1.9) million, or $(0.08) per share, compared to a net loss of $(0.8) million, or $(0.03) per share, in Q1 2023 and a net income of $2.6 million, or $0.11 per share, in Q4 2023. The year-over-year increase in net loss was primarily due to the aforementioned decrease in revenue and gross profit, partially offset by a decrease in operating expenses and increase in interest income. The sequential decrease in net loss was primarily due to one time receipt of cross licensing agreement.\n\n\n\n\n\n\n\n●\n\nNon-GAAP net loss in Q1 2024 was $(1.8) million, or $(0.07) per share, compared to a Non-GAAP net loss of $(2.0) million, or $(0.09) per share, in Q1 2023 and a Non-GAAP net loss of $(1.2) million, or $(0.05) per share, in Q4 2023. The year-over-year decrease in Non-GAAP net loss was driven by the aforementioned decrease in revenue and gross profit partially offset by a decrease in operating expenses and increase in interest income. The sequential increase in Non-GAAP net loss was primarily due to receipt of tax refund in Q4 2023.\n\n\n\n\n\n\n($ in 000, except per share)\n\nThree months ended March 31,\n\n\n\n\n\n2024\n\n\n\n2023\n\n\nChange in % Favorable/(Adverse)\n\n\n\nGAAP\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n$\n3,622\n\n\n$\n4,178\n\n\n(13\n)\n\n\nGross profit\n\n1,151\n\n\n\n1,315\n\n\n(12\n)\n\n\nOperating expenses\n\n3,229\n\n\n\n3,504\n\n\n8\n\n\n\nOperating loss\n\n(2,078\n)\n\n\n(2,189\n)\n\n5\n\n\n\nNet loss\n\n(1,898\n)\n\n\n(832\n)\n\n(128\n)\n\n\nDiluted loss per share\n\n(0.08\n)\n\n\n(0.03\n)\n\n(167\n)\n\n\nNon-GAAP\n\n\n\n\n\n\n\n\n\n\n\n\nNon-GAAP operating expenses\n$\n3,095\n\n\n$\n3,365\n\n\n8\n\n\n\nNon-GAAP operating loss\n\n(1,942\n)\n\n\n(2,048\n)\n\n5\n\n\n\nNon-GAAP net loss\n\n(1,762\n)\n\n\n(2,041\n)\n\n14\n\n\n\nNon-GAAP Adjusted EBITDA\n\n(1,764\n)\n\n\n(1,678\n)\n\n(5\n)\n\n\nNon-GAAP diluted loss per share\n\n(0.07\n)\n\n\n(0.09\n)\n\n22\n\n\n\n\nBalance Sheet Highlights\nAs of March 31, 2024, cash, cash equivalents and investments were $22.6 million, as compared with $22.2 million as of December 31, 2023.\nAbout ClearOne\nClearOne is a global company that designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications. The performance and simplicity of its advanced comprehensive solutions offer unprecedented levels of functionality, reliability, and scalability. Visit ClearOne at www.clearone.com.\nNon-GAAP Financial Measures\nTo supplement our consolidated financial statements presented on a GAAP basis, ClearOne uses non-GAAP measures of gross profit, operating income (loss), net income (loss), adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and net income (loss) per share, which are adjusted to exclude certain costs, expenses, gains and losses we believe appropriate to enhance an overall understanding of our past financial performance from period to period and also our prospects for the future. These adjustments to our current period GAAP results are made with the intent of providing both management and investors a more complete understanding of ClearOne’s underlying operational results and trends and our marketplace performance. The non-GAAP results are an indication of our baseline performance before certain gains, losses, or other charges that are considered by management to be outside of our core operating results. In addition, these adjusted non-GAAP results are among the primary indicators management uses as a basis for our planning and forecasting of future periods. The presentation of this additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for gross profit, operating income (loss), net income (loss), income (loss) per share or other financial measures prepared in accordance with GAAP. There are limitations to the use of non-GAAP financial measures. Other companies, including companies in ClearOne’s industry, may calculate non-GAAP financial measures differently than ClearOne does, limiting the usefulness of those measures for comparative purposes. A detailed reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures is included in this release below.\nForward Looking Statements\nThis release contains \"forward-looking\" statements that are based on present circumstances and on ClearOne’s predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements and any statements of the plans and objectives of management for future operations and forecasts of future growth and value are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Such forward-looking statements are made only as of the date of this release and ClearOne assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. The information in this press release should be read in conjunction with and is modified in its entirety by, the Quarterly Report on Form 10-Q (the \"10-Q\") filed by the Company for the same period with the Securities and Exchange Commission (the \"SEC\") and all of the Company’s other public filings with the SEC (the \"Public Filings\").\nIn particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, including the footnotes thereto, as well as the Company’s annual report on Form 10-K for the year ended December 31, 2023 (the \"10-K\"), the footnotes thereto and the limitations set forth therein. Investors may not rely on the press release without reference to the 10-Q, the 10-K, and the Public Filings.\nCLEARONE, INCUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(Dollars in thousands, except par value)\n\n\n\n\n\nMarch 31, 2024\n\n\nDecember 31, 2023\n\n\n\nASSETS\n\n\n\n\n\n\n\n\n\n\nCurrent assets:\n\n\n\n\n\n\n\n\n\n\nCash and cash equivalents\n\n$\n18,544\n\n\n$\n17,835\n\n\n\nCurrent marketable securities\n\n\n2,809\n\n\n\n3,480\n\n\n\nPatent cross license receivable\n\n\n—\n\n\n\n4,000\n\n\n\nReceivables, net of allowance of $326\n\n\n2,794\n\n\n\n3,279\n\n\n\nInventories, net\n\n\n11,434\n\n\n\n10,625\n\n\n\nIncome tax receivable\n\n\n27\n\n\n\n36\n\n\n\nPrepaid expenses and other assets\n\n\n4,001\n\n\n\n4,062\n\n\n\nTotal current assets\n\n\n39,609\n\n\n\n43,317\n\n\n\nLong-term marketable securities\n\n\n1,278\n\n\n\n916\n\n\n\nLong-term inventories, net\n\n\n4,161\n\n\n\n3,143\n\n\n\nProperty and equipment, net\n\n\n542\n\n\n\n530\n\n\n\nOperating lease - right of use assets, net\n\n\n898\n\n\n\n990\n\n\n\nIntangibles, net\n\n\n1,615\n\n\n\n1,689\n\n\n\nOther assets\n\n\n108\n\n\n\n109\n\n\n\nTotal assets\n\n$\n48,211\n\n\n$\n50,694\n\n\n\nLIABILITIES AND SHAREHOLDERS' EQUITY\n\n\n\n\n\n\n\n\n\n\nCurrent liabilities:\n\n\n\n\n\n\n\n\n\n\nAccounts payable\n\n$\n1,733\n\n\n$\n1,945\n\n\n\nDividends payable\n\n\n14,496\n\n\n\n—\n\n\n\nAccrued liabilities\n\n\n1,959\n\n\n\n2,290\n\n\n\nDeferred product revenue\n\n\n26\n\n\n\n30\n\n\n\nTotal current liabilities\n\n\n18,214\n\n\n\n4,265\n\n\n\nOperating lease liability, net of current\n\n\n574\n\n\n\n665\n\n\n\nOther long-term liabilities\n\n\n1,079\n\n\n\n1,079\n\n\n\nTotal liabilities\n\n\n19,867\n\n\n\n6,009\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nShareholders' equity:\n\n\n\n\n\n\n\n\n\n\nCommon stock, par value $0.001, 50,000,000 shares authorized, 23,969,148 shares issued and outstanding\n\n\n24\n\n\n\n24\n\n\n\nAdditional paid-in capital\n\n\n31,584\n\n\n\n46,047\n\n\n\nAccumulated other comprehensive loss\n\n\n(290\n)\n\n\n(310\n)\n\n\nAccumulated deficit\n\n\n(2,974\n)\n\n\n(1,076\n)\n\n\nTotal shareholders' equity\n\n\n28,344\n\n\n\n44,685\n\n\n\nTotal liabilities and shareholders' equity\n\n$\n48,211\n\n\n$\n50,694\n\n\n\n\nCLEARONE, INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ANDCOMPREHENSIVE LOSS(Dollars in thousands, except per share amounts)\n\n\n\n\n\nThree months ended March 31,\n\n\n\n\n\n2024\n\n\n2023\n\n\n\nRevenue\n\n$\n3,622\n\n\n$\n4,178\n\n\n\nCost of goods sold\n\n\n2,471\n\n\n\n2,863\n\n\n\nGross profit\n\n\n1,151\n\n\n\n1,315\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating expenses:\n\n\n\n\n\n\n\n\n\n\nSales and marketing\n\n\n1,312\n\n\n\n1,192\n\n\n\nResearch and product development\n\n\n894\n\n\n\n1,043\n\n\n\nGeneral and administrative\n\n\n1,023\n\n\n\n1,269\n\n\n\nTotal operating expenses\n\n\n3,229\n\n\n\n3,504\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating loss\n\n\n(2,078\n)\n\n\n(2,189\n)\n\n\n\n\n\n\n\n\n\n\n\n\n\nInterest expense\n\n\n—\n\n\n\n(292\n)\n\n\nOther income, net\n\n\n178\n\n\n\n1,666\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nLoss before income taxes\n\n\n(1,900\n)\n\n\n(815\n)\n\n\n\n\n\n\n\n\n\n\n\n\n\nProvision for income taxes\n\n\n(2\n)\n\n\n17\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNet loss\n\n$\n(1,898\n)\n\n$\n(832\n)\n\n\n\n\n\n\n\n\n\n\n\n\n\nBasic weighted average shares outstanding\n\n\n23,969,148\n\n\n\n23,955,767\n\n\n\nDiluted weighted average shares outstanding\n\n\n23,969,148\n\n\n\n23,955,767\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBasic loss per share\n\n$\n(0.08\n)\n\n$\n(0.03\n)\n\n\nDiluted loss per share\n\n$\n(0.08\n)\n\n$\n(0.03\n)\n\n\n\n\n\n\n\n\n\n\n\n\n\nComprehensive loss:\n\n\n\n\n\n\n\n\n\n\nNet loss\n\n$\n(1,898\n)\n\n$\n(832\n)\n\n\nUnrealized loss on available-for-sale securities, net of tax\n\n\n22\n\n\n\n—\n\n\n\nChange in foreign currency translation adjustment\n\n\n(2\n)\n\n\n5\n\n\n\nComprehensive loss\n\n$\n(1,878\n)\n\n$\n(827\n)\n\n\n\nCLEARONE, INC.UNAUDITED RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES(Dollars in thousands, except per share values)\n\n\n\n\n\nThree months ended March 31,\n\n\n\n\n\n2024\n\n\n2023\n\n\n\nGAAP operating loss\n\n$\n(2,078\n)\n\n$\n(2,189\n)\n\n\nStock-based compensation\n\n\n26\n\n\n\n23\n\n\n\nAmortization of intangibles\n\n\n110\n\n\n\n118\n\n\n\nNon-GAAP operating loss\n\n$\n(1,942\n)\n\n$\n(2,048\n)\n\n\n\n\n\n\n\n\n\n\n\n\n\nGAAP net loss\n\n$\n(1,898\n)\n\n$\n(832\n)\n\n\nStock-based compensation\n\n\n26\n\n\n\n23\n\n\n\nAmortization of intangibles\n\n\n110\n\n\n\n118\n\n\n\nOther income adjustment\n\n\n—\n\n\n\n(1,350\n)\n\n\nNon-GAAP net loss\n\n$\n(1,762\n)\n\n$\n(2,041\n)\n\n\n\n\n\n\n\n\n\n\n\n\n\nGAAP net loss\n\n$\n(1,898\n)\n\n$\n(832\n)\n\n\nNumber of shares used in computing GAAP diluted loss per share\n\n\n23,969,148\n\n\n\n23,955,767\n\n\n\nGAAP diluted loss per share\n\n$\n(0.08\n)\n\n$\n(0.03\n)\n\n\nNon-GAAP net loss\n\n$\n(1,762\n)\n\n$\n(2,041\n)\n\n\nNumber of shares used in computing Non-GAAP diluted loss per share\n\n\n23,969,148\n\n\n\n23,955,767\n\n\n\nNon-GAAP diluted loss per share\n\n$\n(0.07\n)\n\n$\n(0.09\n)\n\n\n\n\n\n\n\n\n\n\n\n\n\nGAAP net loss\n\n$\n(1,898\n)\n\n$\n(832\n)\n\n\nStock-based compensation\n\n\n26\n\n\n\n23\n\n\n\nInterest expense\n\n\n—\n\n\n\n292\n\n\n\nDepreciation\n\n\n—\n\n\n\n54\n\n\n\nAmortization of intangibles\n\n\n110\n\n\n\n118\n\n\n\nOther income adjustment\n\n\n—\n\n\n\n(1,350\n)\n\n\nProvision for (benefit from) income taxes\n\n\n(2\n)\n\n\n17\n\n\n\nNon-GAAP Adjusted EBITDA\n\n$\n(1,764\n)\n\n$\n(1,678\n)\n\n\n\nView source version on businesswire.com: https://www.businesswire.com/news/home/20240520984276/en/\nContacts\nInvestor Relations Contact: Simon Brewer385-426-0565investor_relations@clearone.com http://investors.clearone.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2436702841"}