FX.co ★ Edgio Preliminary Q4 Revenue Slips

Edgio Inc., an organization specializing in online content such as video, music, and games, reported a decrease in its preliminary revenue for the fourth quarter last Friday.

The company anticipates reporting an adjusted EBITDA loss ranging between $2 million to a break-even situation for this specific quarter. The projected revenue for this period is expected to fall within the range of $93 million to $95 million.

Comparing to the fourth quarter of 2022, Edgio recorded an adjusted EBITDA loss of $10.1 million, with a revenue accrual of $108.8 million.

Further, the company plans to invoke a delay in filing due to an alteration in the auditor. It will file a notification of late filing with the Securities and Exchange Commission for its 2023 Annual Report. This will enable an automatic 15-day extension of the filing deadline, pushing it back to April 1.