Spectra7 provides prelim Q4 and FY 2022 outlook

Jan. 18, 2023 10:22 AM ETSPVNF, SEV:CABy: Manshi Mamtora, CFA

Spectra7 Microsystems (OTCQB:SPVNF) shows p reliminary Q4 revenue of $3M, up ~14% Y/Y.
Q4 gross margin expected to be in excess of 58%.
Preliminary revenue for FY 2022 of $11.3M, up ~106% compared to $5.5M in the previous year.
Preliminary Q4 operating expenses were $1.9M, flat from $1.9M last year while the company continues to control its spending.
Based on current order trends and a high backlog, Spectra7 expects revenue for Q1 2023 to be in the range of $3M-3.2M.
Raouf Halim, CEO, "We had a very strong 2022, doubling our revenue year over year to approximately $11.3 million, led by our AR/VR products and early ramp in hyperscale product sales with key datacenter customers. This enabled the Company to approach EBITDA break-even in the fourth quarter. Our visibility into 2023 has improved significantly as we start the new year with a high order backlog from a growing list of end customers. We also expect supply availability to improve steadily throughout 2023. Coupled with growth in our datacenter customer orders, we expect to achieve EBITDA profitability in the year ahead."