Outlook
We expect second quarter 2024 revenue at the mid-point to be slightly up from the first quarter. We continue to expect revenue to be weighted toward the second half of the year, and that the company will approximate breakeven on an Adjusted EBITDA basis in the third quarter and be profitable on that basis in the fourth quarter.
| (in millions) | 1Q’24
Guidance |
1Q’24
Actual |
2Q’24
Guidance |
| Revenue | $10.0 – $15.0 | $12.6 | $10.5 – $15.5 |
| Non-GAAP Gross Profit | $(3.8) – $(1.8) | $(1.7) | $(3.1) – $(1.1) |
| Non-GAAP Gross Margin | (38%) – (12%) | (13.7%) | (29.5%) – (7.1%) |
| Non-GAAP operating expenses | $8.0 – $8.9 | $8.7 | $8.6 – $9.2 |
| Non-GAAP adjusted EBITDA | $(12.6) – $(9.8) | $(10.7) | $(12.6) – $(9.8) |
