outlook calling for revenue to again double on a sequential CEO COMMENTARY
"Customer shipments continued to ramp in the third quarter, leading to revenue more than doubling on a sequential basis to $1.5 million," said Raouf Halim, Chief Executive Officer. "We expect this momentum to continue in the fourth quarter, with our outlook calling for revenue to again double on a sequential basis, driven by strong backlog of confirmed customer orders now stretching into 2022. 4"
Q4 2021 Financial Outlook4
Led by increasing order backlog for its data center products, the Company expects significant growth in revenue for the fourth quarter of 2021, to a range of between $2.5 million and $3.5 million4. At the midpoint, this would represent an increase of almost 800% compared to revenue of $0.4 million in the fourth quarter of 2020. Total order backlog starting Q4 2021 has grown to over $7.2 million.
With this current outlook, the Company anticipates that it will achieve EBITDA5 profitability in Q4 20214.
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