June 01, 2016 4:11 AM ET

Semiconductors and Semiconductor Equipment

Company Overview of Adesto Technologies Corporation

Company Overview

Adesto Technologies Corporation provides application-specific and ultra-low power non-volatile memory products in the United States, the rest of Americas, the European Union, the Asia Pacific, and internationally. It offers standard serial flash products that include DataFlash for data-logging applications, such as industrial automation, home automation sensing, and health and fitness tracking; and Fusion Flash for use in various high-volume consumer applications, such as wearables, mobile, and other applications. The company also provides conductive bridging RAM based products comprising Mavriq for Internet of Things and other applications, which include camera sensors, Bluetooth low energy...

1250 Borregas Avenue

Sunnyvale, CA 94089

United States

Founded in 2006

95 Employees

Phone:

408-400-0578

Key Executives for Adesto Technologies Corporation

Co-Founder, Chief Executive Officer, President and Director
Age: 52
Total Annual Compensation: $305.8K
Co-Founder and Vice President of Marketing & Business Development
Age: 57
Total Annual Compensation: $247.8K
Co-Founder and Vice President of Engineering
Age: 47
Total Annual Compensation: $245.8K
Chief Financial Officer and Secretary
Age: 53
Total Annual Compensation: $272.9K
Compensation as of Fiscal Year 2015.

Adesto Technologies Corporation Key Developments

Adesto Technologies Extends Ultra Low Power Memory Product Line for Internet of Things

Adesto Technologies announced new low-power additions to its family of non-volatile memory products for battery-operated and energy harvesting electronics. The new Moneta RM3300 products offer the ability to perform read and write operations at 50-100x lower power than competitive solutions. They also provide system designers standard voltage supply options, including the ability to optimize power by choosing an I/O operating range (nominal 1.8V, 2.5V or 3.3V) that best suits system requirements. Moneta’s power-conscious design includes an ultra-deep power down feature that allows the device to standby with 4-5x less power than competitive products, and to automatically enter the ultra-deep power down mode following write operations, reducing controller operations and overall system energy. The Moneta family is built on Adesto’s revolutionary Conductive Bridging RAM (CBRAM) technology, breakthrough non-volatile memory that enables extremely low energy consumption. Adesto is the first company to successfully commercialize a resistive RAM technology, having shipped millions of production parts since its introduction to customers seeking high-speed, low-energy non-volatile memory solutions including wireless communications and other IoT applications. Samples of Adesto’s Moneta products will be available in July 2016. The family includes a range of four densities: 32Kbit, 64Kbit, 128Kbit, and 256Kbit devices.

Adesto Technologies Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016; Provides Earnings Guidance for the Second Quarter and Revenue Guidance for the Full Year of 2016

Adesto Technologies Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported revenues of $10,176,000 compared to $9,690,000 a year ago. Loss from operations was $1,290,000 compared to $1,929,000 a year ago. Loss before provision for taxes was $1,526,000 compared to $2,228,000 a year ago. Net loss was $1,540,000 or $0.10 per basic and diluted share against $2,277,000 or $4.07 per basic and diluted share a year ago. Non-GAAP loss from operations was $2,135,000 compared to $1,578,000 a year ago. Non-GAAP net loss was $2,385,000 compared to $1,935,000 a year ago. Adjusted EBITDA was $1,869,000 compared to $1,274,000 a year ago. Non-GAAP diluted net loss per share was $0.16 compared to $0.20 a year ago. For the second quarter of 2016, the Company expects revenue to range between $10.1 million and $10.3 million. Gross margin is expected to be between 45% and 47%, GAAP operating expenses are expected to range between $8.4 million and $8.6 million and non GAAP operating expenses are expected to range between $7.3 million and $7.5 million. For the full year 2016, the Company now expects revenue growth of approximately 10% based on the Company's belief that there will be a return to growth in the second half of the year as design wins ramp into volume production and consumer demand conditions in the Company's end markets improve as expected.

Adesto Technologies Corporation Provides Earnings Guidance for the Three Months Ended March 31, 2016

Adesto Technologies Corporation provided earnings guidance for the three months ended March 31, 2016. The company expects first quarter revenue to be approximately $10.2 million, below its original guidance range of $11.8 million to $12.0 million. Gross margin is expected to be approximately 49%, above the company’s original guidance range of 43% to 45%, with GAAP operating expenses of approximately $8.2 million, within the company’s original guidance range of $8.0 million to $8.3 million.

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