Silvaco Group (NASDAQ:SVCO) shares rose Monday as traders digested the company’s latest quarterly update and forward outlook.
Earnings Snapshot
The company last week reported fourth-quarter losses of three cents per share, which beat the consensus estimate of a loss of 12 cents. Also, sales of $18.25 million beat the analyst consensus estimate of $16.33 million.
Walden Rhines, Silvaco’s Chief Executive Officer, said it secured its second AI/ML FTCO customer and that this helped push revenue above the high end of its guided range. Meanwhile, cost-reduction efforts landed ahead of expectations with operating expenses coming in below the midpoint of guidance.
Gross bookings fell 10% to $18.3 million in the quarter. The company reported an adjusted operating loss of $1.1 million versus operating income in the prior year quarter.
As of quarter-end, cash, cash equivalents, short-term …