Edgio, Inc. - EGIO STOCK NEWS

Edgio, Inc. (NASDAQ: EGIO) has appointed Eric Black as CTO and General Manager of Media, aiming to enhance its streaming services. Black, a veteran from NBC Universal, brings over 20 years of experience in digital video and live event streaming. Notable achievements include leading the first live stream of a Super Bowl and managing coverage for multiple Olympic Games. Under his leadership, Edgio aims to expand its media platform, enhancing both Uplynk and its global CDN network, thereby improving viewer experiences and increasing operational efficiency.

Edgio (NASDAQ: EGIO) announced a restatement of its financial statements for 2020 and 2021 due to an error in revenue recognition related to its Open Edge Solution. The anticipated revenue correction for the periods could reach $23 million for nine months ending September 30, 2022. However, there is no expected impact on cash flows or operations. The company reported a preliminary revenue expectation of $107 million to $109 million for Q4 2022, alongside an increase in cash reserves to $74 million. Operational highlights show continued business momentum with new client acquisitions and product launches.

Edgio (NASDAQ: EGIO) has announced significant enhancements to its security platform aimed at combating rising threats such as DDoS attacks. The new DDoS scrubbing solution offers robust mitigation capabilities across all protocols, enhancing Edgio's existing 250+ Tbps edge network. Additionally, improvements include outbound data leak prevention, advanced rule customization, and support for regional compliance, ensuring the protection of critical applications and data. With these upgrades, Edgio prioritizes the confidentiality, integrity, and availability of its client’s digital assets.

Edgio has been recognized as a leader in the 2022 SPARK Matrix™ analysis for Commercial Content Delivery Network Services by Quadrant Knowledge Solutions. The analysis highlights Edgio's strong performance in service excellence and customer impact. The company's offerings include video streaming, live events, and application services that enhance web performance and security. The SPARK Matrix™ serves as a strategic tool for clients to evaluate service providers in the CDN landscape.

Edgio (NASDAQ: EGIO) has become a Gold Sponsor of the OWASP ModSecurity Core Rule Set (CRS) project, enhancing its commitment to web security. This partnership aims to promote cybersecurity awareness and develop advanced web application protection, leveraging Edgio's extensive security solutions, including DDoS protection and bot management. Ajay Kapur, CTO of Edgio, emphasized the importance of innovation in combating evolving cyber threats. The sponsorship reflects Edgio's goal to provide robust and integrated security solutions to safeguard applications and data.

Edgio, Inc. (NASDAQ: EGIO) has announced its participation in several upcoming investor conferences in November and December 2022. Key events include:

• Needham Virtual Security, Networking, & Communications Conference on November 15, 2022, at 3:00 p.m. ET.
• Craig-Hallum Alpha Select Conference on November 17, 2022, at 12:05 p.m. ET in New York, NY.
• Raymond James’ 2022 Technology Investors Conference on December 6, 2022, at 3:25 p.m. ET in New York, NY.

This engagement highlights Edgio's commitment to enhancing its visibility and communications with investors.

Edgio, Inc. (Nasdaq: EGIO) reported substantial growth in Q3 2022, with revenue reaching $121.2 million, an increase of 119% year-over-year. The GAAP gross margin improved to 30.5%, reflecting a 180 basis point rise. The company achieved record application bookings and reported a 75% growth in its sales pipeline. However, guidance for Q4 2022 suggests expected revenue between $109 million and $114 million due to potential delays in customer capital spending and some customer churn following the Edgecast acquisition.

Edgio, Inc. (NASDAQ: EGIO) is set to report its financial results for Q3 2022 on November 9, 2022, at 4:00 p.m. EST. An earnings conference call will follow at 4:30 p.m. EST, accessible via phone and live audio stream. This release emphasizes Edgio’s platform, which provides enhanced speed, security, and simplicity for connected living, catering to a global clientele, including major brands in entertainment and applications. Investors can expect insights into the company’s performance and future outlook.

Edgio, Inc. (NASDAQ: EGIO) will announce its financial results for Q3 2022 on November 8, 2022, at 4:00 p.m. EST, followed by an investor conference call at 4:30 p.m. EST. The call can be accessed domestically and internationally via specific dialing options. A recording will be available until November 22, 2022. Edgio focuses on providing speed, security, and simplicity at the edge for connected living, and is dedicated to enhancing client care. Further details can be found on their investors page.