Close
Close

Published

Despite strong 2018 results, market is disappointed in Quantenna’s outlook

Quantenna has ridden the WiFi boom as the world’s principal dedicated chip vendor in the field, and yet remains undervalued even after reporting strong results for the 2018 fiscal year. Its annual revenues were up 25% at $220.5m, and it ended the year even more strongly with Q4 revenue up 52% year-on-year to $62.6m (up 5% sequentially). Non-GAAP full-year operating profit doubled to $20m, or 9% of revenue, compared to $10m in 2017 or 6% of revenue. These growth rates are better than those of Quantenna’s immediate competitors, though of course firms like Broadcom, Qualcomm and Marvell have far broader businesses than just WiFi. Broadcom’s total 2018 revenues were up 12% at $5.45bn, while Marvell was up 4.7% at $2.41bn…

Close