In a sign that the memory market may not be recovering as fully as some other segments, MoSys Inc. today announced that it is reducing its Q3 revenue outlook to $3.5 million from the previously announced estimate of $4.5 million to $5 million.

The SRAM specialist explained that the level of new licensing contracts met its earlier expectations, but the revenue recognized under licensing contracts fell short of its targets.

As a result of the shortfall, the Sunnyvale, Calif.-based company will incur its first loss since Q2 2000.

"We are disappointed about reducing our revenue estimate but significant decisions by some of our customers were delayed or made too late in the quarter for us to recognize associated revenue," Fu-Chieh Hsu, CEO of MoSys, said in a statement. "We are, however, very encouraged by the recent overall increase in customer activity. Although our visibility remains limited, and the timing of revenue recognition under our license contracts is difficult to predict, we anticipate a significant increase in revenue for the fourth quarter."

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved