LLNW - LLNW STOCK NEWS

Limelight Networks (NASDAQ: LLNW) is set to report its financial results for Q2 2021 on July 29, 2021, at 4:00 PM EDT. Following the earnings report, a conference call for investors will take place at 4:30 PM EDT. Additionally, a strategy session is scheduled for August 24, 2021, where management will discuss the company's strategic direction and core initiatives. Limelight Networks is recognized for its edge access and content delivery services, enhancing digital experiences for major global brands.

Limelight Networks (LLNW) reported Q1 2021 results with revenue of $51.2 million, a 10% decline year-over-year. The company faced a GAAP net loss of $25.5 million (or $(0.21) per share), worsening from a $5.3 million loss in the same quarter last year. Strategic changes include appointing a new CEO, workforce reduction for $15 million in annual savings, and a focus on enhancing client engagement. The full-year revenue guidance is set between $220 million and $230 million, below the previous year's revenue of $230.2 million.

Limelight Networks will announce its first quarter 2021 financial results on April 29, 2021, at 4:00 p.m. EDT. Following the announcement, a conference call will be held for investors at 4:30 p.m. EDT, accessible via toll-free numbers in the U.S. and internationally. The call will also be available via live audio cast on the company’s investor website.

Limelight is recognized for its edge access and content delivery services, partnering with major brands to enhance digital experiences globally.

Limelight Networks, Inc. (NASDAQ: LLNW) has appointed Dave Peterschmidt as its non-executive chairman, marking a strategic change aimed at enhancing company growth and shareholder value. Peterschmidt, who has been a director since 2007 and has significant CEO experience in the technology sector, will work closely with existing board members, including Walt Amaral, to align corporate governance practices. CEO Bob Lyons highlighted the importance of this leadership transition in leveraging industry opportunities.

Limelight Networks (Nasdaq: LLNW) announced strategic actions to enhance execution, profitability, and growth, focusing on their core CDN business. Key initiatives include a simplified operating model, prioritizing client performance improvements, and enhancing productivity, which is expected to yield annual cash savings of about $15 million. A workforce reduction of approximately 16% will occur, accompanied by a pre-tax cash charge of $3 million. The company aims for adjusted EBITDA of $20 to $30 million for 2021, with ongoing efforts to bolster gross margins and revenue.

The "State of Online Gaming 2021" report by Limelight Networks highlights a 14% increase in gaming engagement, averaging 8 hours and 27 minutes per week. The pandemic has driven social connections through gaming, with 53% of players making new friends online. Notably, 74% of gamers are keen on upgrading consoles due to faster gameplay. Performance is crucial, with 47% prioritizing speed and 87% finding downloading frustrating. Additionally, binge-gaming has surged, averaging 5 hours and 6 minutes. The report surveyed 4,000 gamers across eight countries, emphasizing the evolution of gaming as a social platform.

Limelight Networks, Inc. (Nasdaq: LLNW) reported its Q4 2020 and full-year results, showing a revenue decline to $55.4 million from $60.1 million in Q4 2019. The company faced a GAAP net loss of $(8.3) million for Q4, significantly down from a net income of $2.5 million a year earlier. For the full year, revenue increased 15% to $230.2 million, with a GAAP net loss of $(19.3) million. Adjusted EBITDA for 2020 was $24.5 million. The new CEO, Bob Lyons, emphasized a commitment to addressing recent challenges, aiming for improved top-line growth and margins.

Limelight Networks, Inc. (Nasdaq: LLNW) announced the appointment of Bob Lyons as President and CEO, effective February 1, 2021, following the retirement of Bob Lento. Lyons, a seasoned executive with a successful track record at Alert Logic, is expected to drive Limelight's growth and innovation in edge-based solutions. The Board believes his expertise aligns with their objective to enhance profitability and customer experience. Lento, who led the company since 2012, expressed confidence in Lyons' leadership to continue the company's momentum.

Limelight Networks (Nasdaq: LLNW) will announce its financial results for Q4 and full year 2020 on February 11, 2021, at 4:00 p.m. EST. The company also plans to provide guidance for 2021 during this announcement.

A conference call for investors is scheduled for 4:30 p.m. EST, accessible via toll-free numbers for the U.S. and international callers. The conference will be audio cast live on Limelight's investor website, with a replay available afterward.