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Here is why Limelight Networks Inc. (LLNW) stock rallied on Thursday?

Limelight Networks Inc. (LLNW) shares popup 7.77% in after-hours on Thursday, January 20, 2022, and closed the daily trading at $4.02. Even in the regular trading session, LLNW’s stock gained 0.81%. The stock volume remained 2.85 million shares. LLNW shares have fallen 16.55% over the last 12 months, and they have moved up 5.97% in the past week. Over the past three months, the stock has gained 28.62%, while over the past six months, it has surged 41.83%.

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Let’s have a look at its recent news and developments.

LLNW latest financial results

On January 20, 2022, Limelight Networks, Inc. (LLNW) reported financial results for the fourth quarter ended December 31, 2021.

Q4 2021 financial highlights

  • Limelight Networks reported total revenue of $62.9 million for the fourth quarter of 2021 compared to $55.4 million for the fourth quarter of 2020.
  • The total cost of revenue was $40.65 million compared to $39.4 million in Q4 2020.
  • Total operating expenses were $27.9 million compared to $22.74 million in Q4 2020.
  • It suffered a net loss of $7.7 million or $0.06per basic share in Q4 2021 compared to a net loss of $8.3 million, or $0.07 per basic share in the fourth quarter of 2020.
  • Adjusted EBITDA was $9.7 million compared to $3.6 million for the fourth quarter of 2020.
  • The company ended Q4 2021 with cash, cash equivalents, and marketable securities of $79.3 million.

FY 2022 financial guidance

For FY 2022, LLNW is expecting,

  • Total revenue in the range of 240 to $250 million.
  • GAAP basic earnings per share in the range of $0.27 to $0.22.
  • Adjusted EBITDA in the range of $24 to $28 million.
  • Capital expenditures are to be between $20 to $25 million.

 General availability of GraphQL functionality

On December 15, 2021, Limelight Networks, Inc. (LLNW), announced the general availability of GraphQL functionality for its Layer0 by Limelight web application CDN. GraphQL is an important enabler of microservices-based (aka headless) websites, allowing web builders to make their API layer much faster and easier to manage. The GraphQL query language improves on traditional REST APIs and has had tremendous growth and adoption among developers.

LLNW new Layer0 platform

On November 18, 2021, Limelight Networks, Inc. (LLNW), released the breakthrough Layer0 platform on its global Content Delivery Network (CDN) — the first new product resulting from Limelight’s acquisition of Layer0. Limelight has helped launch and grow some of the largest video properties in the world and is now at the forefront of enabling a new generation of web and application development.

Conclusion

The company reported significant revenue, gross margin, and adjusted EBITDA growth for Q4 2021 which took its stock price to new heights. We can expect it to continue its momentum on Friday as well.

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