Company Reaffirms 2026 Outlook with Revenue Expectation of $575 Million

The company said, "The Company is reaffirming its outlook for 2026, as set forth below, which is based on current market conditions and assumes that the impacts of global inflationary pressures, relatively high interest rates, exchange rates, increased tariffs and other supply chain costs do not impede economic activity further. Full year revenue growing to a range of $565 million to $575 million, improving sequentially through the year. Based on current logistics and materials costs, full year non-GAAP gross margins of 46.7% to 47.1%, including approximately $7 million of adverse impact from tariffs and foreign exchange rates relative to 2025. Full year non-GAAP operating expenses ranging from $260 million to $262 million, including approximately $10 million of adverse impact from changes in foreign exchange rates. Full year non-GAAP operating margins in a range of 0.7% to 1.5%. GAAP net loss of $83 million to $67 million, or ($0.95) to ($0.76) per diluted share. Non-GAAP net income of $8 million to $12.5 million, or $0.09 to $0.14 per diluted share. Adjusted EBITDA of $25 million to $30 million, with Adjusted EBITDA margin of 4.5% to 5.0%. Capital expenditures of $20 million to $25 million. Expects to generate positive operating cash flow subject to uncertainty related to foreign exchange rates and tariffs." Revenue consensus $564.48M.