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Acacia Communications, Inc. (ACIA) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Acacia Communications, Inc.

CIK: 1651235 Ticker: ACIA



Acacia Communications Reports Fourth Quarter and Full Year 2018 Results
MAYNARD, Mass., February 21, 2019 (GLOBE NEWSWIRE) -- Acacia Communications, Inc. (NASDAQ: ACIA), a leading provider of high-speed coherent optical interconnect products, today reported financial results for its fourth quarter and full year ended December 31, 2018.
“I am pleased with our strong fourth quarter results, which exceeded the high end of our guidance on revenue, non-GAAP net income and non-GAAP diluted earnings per share,” said Raj Shanmugaraj, President and Chief Executive Officer of Acacia Communications. “In the fourth quarter, we made significant progress in our efforts to diversify our revenue base and expand our product portfolio. We believe our customers are well positioned with our products to meet the needs of compact DCI systems that are replacing traditional telecom DWDM systems in the edge DCI market, and believe that our roadmap is well aligned with network operator architectures for their next-generation deployments.”
“Looking back at 2018, it was a challenging year for both Acacia and our industry, with difficult market conditions and a ban on our largest customer,” said John Gavin, Chief Financial Officer of Acacia Communications. “Even so, because of our execution against our operational efficiency initiatives throughout 2018 and increased demand for our products in the second half of 2018, we were able to close the year with a stronger balance sheet than we had at the end of 2017.”
Results for the Fourth Quarter of 2018

Revenue of $107.1 million, increased 23.7% year-over-year
GAAP gross margin of 49.5%; non-GAAP gross margin* of 45.5%
GAAP income from operations of $11.6 million; non-GAAP income from operations* of $14.8 million
GAAP net income of $9.1 million; non-GAAP net income* of $17.2 million
EBITDA* of $15.0 million; adjusted EBITDA* of $18.2 million
GAAP diluted EPS of $0.22; non-GAAP diluted EPS* of $0.41
Results for the Full Year 2018

Revenue of $339.9 million, decreased 11.8% year-over-year
GAAP gross margin of 43.3%; non-GAAP gross margin* of 43.9%
GAAP loss from operations of $7.2 million; non-GAAP income from operations* of $27.4 million
GAAP net income of $4.9 million; non-GAAP net income* of $36.0 million
EBITDA* of $6.0 million; adjusted EBITDA* of $40.6 million
GAAP diluted EPS of $0.12; non-GAAP diluted EPS* of $0.86

Outlook for the First Quarter of 2019

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially, as a result of, among other things, the important factors discussed at the end of this press release. Acacia Communications disclaims any obligation to update these forward-looking statements.

Acacia Communications’ guidance for its first quarter ending March 31, 2019 is:


        

The following information was filed by Acacia Communications, Inc. (ACIA) on Thursday, February 21, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Acacia Communications, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Income Statements
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Redeemable Convertible Preferred Stock And Stockholders Equity
Consolidated Statements Of Redeemable Convertible Preferred Stock And Stockholders Equity (Parenthetical)
Accrued Liabilities
Accrued Liabilities (Tables)
Accrued Liabilities - Schedule Of Accrued Liabilities (Details)
Basis Of Presentation
Basis Of Presentation (Policies)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Future Annual Minimum Lease Payments (Details)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Warranty Reserve (Details)
Concentrations Of Risk
Concentrations Of Risk (Tables)
Concentrations Of Risk - Narrative (Details)
Concentrations Of Risk - Summary Of Customer Concentration Of Accounts Receivable (Details)
Concentrations Of Risk - Summary Of Customer Concentration Of Total Revenue (Details)
Concentrations Of Risk - Summary Of Supplier Concentration (Details)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Narrative (Details)
Fair Value Measurement - Summary Of Assets Measured At Fair Value On Recurring Basis (Details)
Fair Value Measurement Fair Value Measurement- Summary Of Changes In The Preferred Stock Warrant Liability Measured At Fair Value Using Significant Unobservable Inputs (Level 3) (Details)
Financial Instruments
Financial Instruments (Tables)
Financial Instruments - Contractual Maturities Of Short-Term And Long-Term Marketable Securities Held (Details)
Financial Instruments - Proceeds From Sales And Maturities Of Marketable Securities (Details)
Financial Instruments - Schedule Of Cash, Cash Equivalents And Short- And Long-Term Marketable Securities (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Changes In Gross Unrecognized Tax Benefits (Detail)
Income Taxes - Components Of (Loss) Income Before Provision (Benefit) For Income Taxes (Details)
Income Taxes - Components Of Provision (Benefit) For Income Taxes (Details)
Income Taxes - Narrative (Details)
Income Taxes - Net Deferred Tax Assets (Details)
Income Taxes - Provision For Income Taxes Computed At Statutory Federal Income Tax Rate To (Benefit) Provision For Income Taxes (Details)
Income Taxes - Summary Of Changes In Deferred Tax Asset Valuation Allowance (Details)
Inventory
Inventory (Tables)
Inventory - Narrative (Details)
Inventory - Schedule Of Inventory (Details)
Nature Of The Business And Operations
Nature Of The Business And Operations (Details)
Net Income Per Share Attributable To Common Stockholders
Net Income Per Share Attributable To Common Stockholders (Tables)
Net Income Per Share Attributable To Common Stockholders - Computation Of Basic And Diluted Net Income Per Share Attributable To Common Stockholders (Details)
Net Income Per Share Attributable To Common Stockholders - Summary Of Common Stock Equivalents Excluded From Computation Of Diluted Net Income Per Share (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Narrative (Details)
Property And Equipment - Schedule Of Property And Equipment (Details)
Related Parties
Related Parties - Narrative (Details)
Retirement Plan
Retirement Plan - Narrative (Details)
Revenue
Revenue (Tables)
Revenue - Deferred Revenue And Accounts Receivable (Details)
Revenue Disaggregation Of Revenue (Details)
Stock Compensation Plans
Stock Compensation Plans (Tables)
Stock Compensation Plans - Changes In Company Restricted Stock Units (Details)
Stock Compensation Plans - Classification Of Stock-Based Compensation (Details)
Stock Compensation Plans - Narrative (Details)
Stock Compensation Plans - Schedule Of Stock-Based Compensation Expense By Award Type (Details)
Stock Compensation Plans - Stock Option Activities (Details)
Stock Compensation Plans - Weighted-Average Assumptions Used To Estimate Fair Value Of Espp (Details) (Details)
Stock Compensation Plans - Weighted-Average Assumptions Used To Estimate Fair Value Of Options (Details)
Stock Compensation Plans - Weighted-Average Assumptions Used To Estimate Fair Value Of Rsus And Prsus (Details)
Subsequent Events
Subsequent Events - Narrative (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Revenue, Remaining Performance Obligation (Details)
Summary Of Significant Accounting Policies - Summary Of Estimated Useful Lives Of Property And Equipment (Details)
Summary Of Significant Accounting Policies - Summary Of Revenue By Geographic Region (Details)
Summary Of Significant Accounting Policies - Summary Of Total Long-Lived Assets By Geographic Region (Details)
Unaudited Quarterly Financial Information
Unaudited Quarterly Financial Information (Details)
Unaudited Quarterly Financial Information (Tables)
Ticker: ACIA
CIK: 1651235
Form Type: 10-K Annual Report
Accession Number: 0001651235-19-000042
Submitted to the SEC: Thu Feb 21 2019 11:36:09 AM EST
Accepted by the SEC: Thu Feb 21 2019
Period: Monday, December 31, 2018
Industry: Semiconductors And Related Devices

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