Limelight Networks, Inc. - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - January 30, 2019

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Exhibit 99.1

January 30, 2019
Limelight Networks Reports 2018 Fourth Quarter and Full Year Financial Results
•
Q4 Revenue of $44.0 million
•
Q4 GAAP EPS of $(0.05) and Non-GAAP EPS of break-even
•
Full year 2018 revenue of $195.7 million
•
Full year 2018 GAAP EPS of $0.09 and Non-GAAP EPS of $0.12
•
Cash and marketable securities of $50.5 million
Limelight Networks, Inc. (Nasdaq: LLNW) (Limelight), a leading provider of edge cloud services, today reported revenue of $44.0 million for the fourth quarter of 2018, down 9 percent, compared to $48.2 million in the fourth quarter of 2017. Currency negatively impacted year-over-year comparison by $0.2 million.
Gross margin was 40.7% in the fourth quarter of 2018, a decrease of 700 basis points from 47.7% in the fourth quarter of 2017.
Limelight reported a net loss of $5.2 million, or $0.05 per basic share for the fourth quarter of 2018, compared to a net loss of $0.9 million, or $0.01 per basic share in the fourth quarter of 2017.
Non-GAAP net income was $0.3 million or break-even per basic share for the fourth quarter of 2018, compared to non-GAAP net income of $3.9 million, or $0.04 per basic share in the fourth quarter of 2017.
EBITDA was negative $0.9 million for the fourth quarter of 2018, compared to $3.9 million for the fourth quarter of 2017. Adjusted EBITDA was $4.6 million for the fourth quarter of 2018 compared to $8.7 million for the fourth quarter of 2017.
For the full year ended December 31, 2018, Limelight reported revenue of $195.7 million, an increase of 6% compared to $184.4 million for the year ended December 31, 2017. Gross margin was 47.8% for the year ended December 31, 2018; an increase of 20 basis points compared to 47.6% for the year ended December 31, 2017.
Limelight reported net income of $9.8 million, or $0.09 per basic share, for the year ended December 31, 2018, compared to a net loss of $7.6 million, or $0.07 per basic share, in 2017. Net income for the full year of 2018 includes $14.9 million, or $0.13 per basic share, of non-operating income related to the settlement and patent license agreement.
Non-GAAP net income was $13.7 million, or $0.12 per basic share, for the year ended December 31, 2018, compared to non-GAAP net income of $10.6 million, or $0.10 per basic share, in 2017.
EBITDA was $28.7 million for the year ended December 31, 2018, compared to $12.4 million for the year ended December 31, 2017. Adjusted EBITDA was $32.5 million for the year ended December 31, 2018, compared to $30.7 million for the year ended December 31, 2017.
Limelight ended the fourth quarter with 563 employees and employee equivalents, up from 551 at the end of the third quarter of 2018, and up from 533 at the end of 2017.
Commenting on the fourth quarter and full year results, Chief Executive Officer, Robert Lento said, “We made some tough choices in the latter half of 2018, as new revenue grew slower than planned. As we closed the year, we were increasingly encouraged by the pace of business growth, including delivering all-time record traffic in December. In addition, the fourth quarter was marked by substantial progress in marketing our new products, launching a strategic partnership with Ericsson, putting in place new leadership for sales, and dedicating a new leader for our Edge services.
“Traffic volumes continue to grow at healthy rates, and customer satisfaction, as measured by Net Promoter Score, remains strong. We expect sequential growth each quarter in 2019, and stronger


Exhibit 99.1

growth rates than 2018. Revenues from our initiatives in Edge computing and Realtime Streaming, and from our partnership with Ericsson, should meaningfully contribute to overall growth. At the same time, we continue to invest in geographic expansion, with an emphasis on Latin America. Revenue from China, India and Brazil should grow at significantly higher rates than the corporate average.
“While our 2019 guidance is ambitious, we’re entering the year with significant momentum, and the preparatory work underpinning our continued growth is well underway. Thank you for your support.”
Based on current conditions, our full-year 2019 guidance is as follows:
Limelight Networks, Inc.
2019 Guidance
 
 
 
 
 
 
 
2019
 
2018
 
2017
Revenue
 
$215 to $225 million
 
$195.7 million
 
$184.4 million
 
 
 
 
 
 
 
GAAP Basic EPS
 
Break-even to $0.10
 
$0.09
 
$(0.07)
 
 
 
 
 
 
 
Non-GAAP EPS
 
$0.10 to $0.20
 
$0.12
 
$0.10
 
 
 
 
 
 
 
Adjusted EBITDA
 
$30 to $40 million
 
$32.5 million
 
$30.7 million
 
 
 
 
 
 
 
Capital expenditures
 
$20 to $24 million
 
$16.1 million
 
$20.7 million
  

    
 



Exhibit 99.1

Financial Tables
Limelight Networks, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except per share data)
 
December 31,
2018
 
September 30,
2018
 
December 31,
2017
 
(Unaudited)
 
(Unaudited)
 
 
ASSETS
 
 
 
 
 
Current assets:
 
 
 
 
 
Cash and cash equivalents
$
25,383

 
28,678

 
$
20,912

Marketable securities
25,083

 
23,957

 
28,404

Accounts receivable, net
26,041

 
26,147

 
32,381

Income taxes receivable
122

 
154

 
98

Prepaid expenses and other current assets
14,789

 
17,859

 
5,397

Total current assets
91,418

 
96,795

 
87,192

Property and equipment, net
27,378

 
27,392

 
28,991

Marketable securities, less current portion
40

 
40

 
40

Deferred income taxes
1,462

 
1,590

 
1,506

Goodwill
76,407

 
76,683

 
77,054

Other assets
2,220

 
2,434

 
1,665

Total assets
$
198,925

 
204,934

 
$
196,448

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
Current liabilities:
 
 
 
 
 
Accounts payable
$
9,216

 
8,976

 
$
4,439

Deferred revenue
1,883

 
853

 
1,187

Income taxes payable
124

 
111

 
452

Provision for litigation
9,000

 
13,500

 
18,000

Other current liabilities
12,922

 
13,804

 
18,507

Total current liabilities
33,145

 
37,244

 
42,585

Deferred income taxes
152

 
174

 
144

Deferred revenue, less current portion
42

 
68

 
16

Provision for litigation, less current portion
—

 
—

 
9,000

Other long-term liabilities
435

 
385

 
558

Total liabilities
33,774

 
37,871

 
52,303

Commitments and contingencies
 
 
 
 
 
Stockholders’ equity:
 
 
 
 
 
Convertible preferred stock, $0.001 par value; 7,500 shares authorized; no shares issued and outstanding
—

 
—

 
—

Common stock, $0.001 par value; 300,000 shares authorized; 114,246, 113,198 and 110,824 shares issued and outstanding at December 31, 2018, September 30, 2018 and December 31, 2017, respectively
114

 
113

 
111

Additional paid-in capital
513,682

 
509,846

 
502,312

Accumulated other comprehensive loss
(10,033
)
 
(9,477
)
 
(8,328
)
Accumulated deficit
(338,612
)
 
(333,419
)
 
(349,950
)
Total stockholders’ equity
165,151

 
167,063

 
144,145

Total liabilities and stockholders’ equity
$
198,925

 
204,934

 
$
196,448


 


Exhibit 99.1

Limelight Networks, Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
 
Three Months Ended
 
Twelve Months Ended
 
Dec. 31,
 
Sept. 30,
 
Percent
 
Dec. 31,
 
Percent
 
Dec. 31,
 
Dec. 31,
 
Percent
 
2018
 
2018
 
Change
 
2017
 
Change
 
2018
 
2017
 
Change
Revenue
$
43,992

 
$
49,315

 
(11
)%
 
$
48,186

 
(9
)%
 
$
195,670

 
$
184,360

 
6
 %
Cost of revenue:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of services (1)
22,141

 
21,519

 
3
 %
 
20,665

 
7
 %
 
85,920

 
78,423
 
10
 %
Depreciation — network
3,941

 
3,761

 
5
 %
 
4,544

 
(13
)%
 
16,277

 
18,138
 
(10
)%
Total cost of revenue
26,082

 
25,280

 
3
 %
 
25,209

 
3
 %
 
102,197

 
96,561
 
6
 %
Gross profit
17,910

 
24,035

 
(25
)%
 
22,977

 
(22
)%
 
93,473

 
87,799
 
6
 %
Gross profit percentage
40.7
%
 
48.7
%
 
 
 
47.7
%
 
 
 
47.8
%
 
47.6
%
 
 
Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General and administrative (1)
7,482

 
7,851

 
(5
)%
 
8,656

 
(14
)%
 
32,372

 
32,053
 
1
 %
Sales and marketing (1)
9,484

 
9,766

 
(3
)%
 
8,997

 
5
 %
 
39,553

 
36,098
 
10
 %
Research and development (1)
5,781

 
5,882

 
(2
)%
 
5,965

 
(3
)%
 
24,075

 
25,342
 
(5
)%
Depreciation and amortization
476

 
616

 
(23
)%
 
587

 
(19
)%
 
2,313

 
2,376
 
(3
)%
Total operating expenses
23,223

 
24,115

 
(4
)%
 
24,205

 
(4
)%
 
98,313

 
95,869
 
3
 %
Operating (loss) income
(5,313
)
 
(80
)
 
NM

 
(1,228
)
 
NM

 
(4,840
)
 
(8,070)
 
(40
)%
Other income (expense):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
(10
)
 
(10
)
 
NM

 
(38
)
 
NM

 
(86
)
 
(80)
 
NM

Interest income
230

 
177

 
NM

 
128

 
NM

 
670

 
494
 
NM

Settlement and patent license income
—

 
—

 
NM

 
—

 
NM

 
14,900

 
—
 
NM

Other, net
90

 
(246
)
 
NM

 
204

 
NM

 
(264
)
 
452
 
NM

Total other income (expense)
310

 
(79
)
 
NM

 
294

 
NM

 
15,220

 
866
 
NM

Loss (income) before income taxes
(5,003
)
 
(159
)
 
NM

 
(934
)
 
NM

 
10,380

 
(7,204)
 
NM

Income tax expense (benefit)
190

 
113

 
NM

 
(22
)
 
NM

 
538

 
426
 
NM

Net (loss) income
$
(5,193
)
 
$
(272
)
 
NM

 
$
(912
)
 
NM

 
$
9,842

 
$
(7,630
)
 
NM

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
$
(0.05
)
 
$
—

 
 
 
$
(0.01
)
 
 
 
$
0.09

 
$
(0.07
)
 
 
Diluted
$
(0.05
)
 
$
—

 
 
 
$
(0.01
)
 
 
 
0.08

 
(0.07
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average shares used in per
  share calculation:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
113,578

 
112,760

 
 
 
110,128

 
 
 
112,114

 
108,814

 
 
Diluted
113,578

 
112,760

 
 
 
110,128

 
 
 
120,010

 
108,814

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes share-based compensation (see supplemental table for figures)
 
 
 
 
 
 



Exhibit 99.1

Limelight Networks, Inc.
Supplemental Financial Data
(In thousands)
(Unaudited)
 
Three Months Ended
 
Twelve Months Ended
 
Dec. 31,
 
Sept. 30,
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
2018
 
2018
 
2017
 
2018
 
2017
Share-based compensation:
 
 
 
 
 
 
 
 
 
Cost of services
$
756

 
$
352

 
$
375

 
$
1,815

 
$
1,450

General and administrative
2,792

 
1,887

 
1,729

 
8,458

 
6,502

Sales and marketing
963

 
638

 
622

 
2,837

 
2,470

Research and development
974

 
544

 
576

 
2,720

 
2,322

Total share-based compensation
$
5,485

 
$
3,421

 
$
3,302

 
$
15,830

 
$
12,744

 
 
 
 
 
 
 
 
 
 
Depreciation and amortization:
 
 
 
 
 
 
 
 
 
Network-related depreciation
$
3,941

 
$
3,761

 
$
4,544

 
$
16,277

 
$
18,138

Other depreciation and amortization
476

 
616

 
587

 
2,313

 
2,376

Total depreciation and amortization
$
4,417

 
$
4,377

 
$
5,131

 
$
18,590

 
$
20,514

 
 
 
 
 
 
 
 
 
 
Net decrease in cash, cash equivalents and marketable securities:
$
(2,169
)
 
$
7,065

 
$
(8,376
)
 
$
1,150

 
$
(16,871
)
 
 
 
 
 
 
 
 
 
 
End of period statistics:
 
 
 
 
 
 
 
 
 
Approximate number of active customers
649

 
667

 
717

 
649

 
717

 
 
 
 
 
 
 
 
 
 
Number of employees and employee equivalents
563

 
551

 
533

 
563

 
533




Exhibit 99.1

Limelight Networks, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
 
Three Months Ended
 
Twelve Months Ended
 
Dec. 31,
 
Sept. 30,
 
Dec. 31,
 
Dec. 31,
 
Dec. 31,
 
2018
 
2018
 
2017
 
2018
 
2017
Operating activities
 
 
 
 
 
 
 
 
 
Net (loss) income
$
(5,193
)
 
$
(272
)
 
$
(912
)
 
$
9,842

 
$
(7,630
)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
 
 
 
 
 
 
 
 
 
Depreciation and amortization
4,417

 
4,377

 
5,131

 
18,590

 
20,514

Share-based compensation
5,485

 
3,421

 
3,302

 
15,830

 
12,744

Settlement and patent license income
—

 
—

 
—

 
(14,900
)
 
—

Foreign currency remeasurement (gain) loss
(65
)
 
64

 
140

 
(162
)
 
798

Deferred income taxes
103

 
(16
)
 
(108
)
 
17

 
(325
)
Gain on sale of property and equipment
(6
)
 
(18
)
 
(316
)
 
(137
)
 
(410
)
Accounts receivable charges
449

 
157

 
217

 
902

 
949

Amortization of premium on marketable securities
33

 
24

 
55

 
115

 
283

Changes in operating assets and liabilities:
 
 
 
 
 
 
 
 
 
Accounts receivable
(343
)
 
5,558

 
(3,886
)
 
5,438

 
(5,912
)
Prepaid expenses and other current assets
64

 
(2,757
)
 
(887
)
 
(2,466
)
 
(342
)
Income taxes receivable
25

 
7

 
4

 
(31
)
 
38

Other assets
201

 
(192
)
 
249

 
(558
)
 
270

Accounts payable and other current liabilities
(1,807
)
 
3,058

 
(730
)
 
(4,333
)
 
4,019

Deferred revenue
1,004

 
(82
)
 
(507
)
 
1,089

 
(957
)
Income taxes payable
17

 
(113
)
 
69

 
(333
)
 
249

Payments related to litigation, net
(1,520
)
 
(1,520
)
 
(4,500
)
 
(9,060
)
 
(18,000
)
Other long term liabilities
51

 
(4
)
 
(206
)
 
(121
)
 
(790
)
Net cash provided by (used in) operating activities
2,915

 
11,692

 
(2,885
)
 
19,722

 
5,498

Investing activities
 
 
 
 
 
 
 
 
 
Purchases of marketable securities
(4,669
)
 
(15,962
)
 
(4,547
)
 
(20,631
)
 
(14,930
)
Sale and maturities of marketable securities
3,500

 
8,850

 
13,012

 
23,865

 
30,756

Purchases of property and equipment
(5,618
)
 
(4,214
)
 
(4,919
)
 
(16,113
)
 
(20,725
)
Proceeds from sale of property and equipment
4

 
18

 
14

 
135

 
97

Net cash (used in) provided by investing activities
(6,783
)
 
(11,308
)
 
3,560

 
(12,744
)
 
(4,802
)
Financing activities
 
 
 
 
 
 
 
 
 
Payment of employee tax withholdings related to restricted stock vesting
(985
)
 
(996
)
 
(1,925
)
 
(4,793
)
 
(4,496
)
Cash paid for the purchase of common stock
—

 
—

 
—

 
(3,800
)
 
—

Proceeds from employee stock plans
1,374

 
737

 
1,448

 
6,173

 
2,648

Net cash provided by (used in) financing activities
389

 
(259
)
 
(477
)
 
(2,420
)
 
(1,848
)
Effect of exchange rate changes on cash and cash equivalents
184

 
(166
)
 
(30
)
 
(87
)
 
330

Net increase (decrease) in cash and cash equivalents
(3,295
)
 
(41
)
 
168

 
4,471

 
(822
)
Cash and cash equivalents, beginning of period
28,678

 
28,719

 
20,744

 
20,912

 
21,734

Cash and cash equivalents, end of period
$
25,383

 
$
28,678

 
$
20,912

 
$
25,383

 
$
20,912

Use of Non-GAAP Financial Measures
To evaluate our business, we consider and use non-generally accepted accounting principles (Non-GAAP) net income (loss), EBITDA and Adjusted EBITDA as supplemental measures of operating performance. These measures include the same adjustments that management takes into account when it reviews and assesses operating performance on a period-to-period basis. We consider Non-GAAP net income (loss) to be an important indicator of overall business performance. We define Non-GAAP net income (loss) to be U.S. GAAP net loss, adjusted to exclude the settlement and patent license income, provision for litigation, share-based compensation, litigation expenses, and amortization of intangible assets. We believe that EBITDA provides a useful metric to investors to compare us with other companies within our industry and across industries. We define EBITDA as U.S. GAAP net income (loss) adjusted to exclude depreciation and amortization, interest expense, interest and other (income) expense, and income tax expense. We define Adjusted EBITDA as EBITDA adjusted to exclude the settlement and patent license income, provision for litigation, share-based compensation and litigation expenses. We use Adjusted EBITDA as a supplemental measure to review and assess operating performance. Our management uses these Non-GAAP financial measures because, collectively, they


Exhibit 99.1

provide valuable information on the performance of our on-going operations, excluding non-cash charges, taxes and non-core activities (including interest payments related to financing activities). These measures also enable our management to compare the results of our on-going operations from period to period, and allow management to review the performance of our on-going operations against our peer companies and against other companies in our industry and adjacent industries. We believe these measures also provide similar insights to investors, and enable investors to review our results of operations “through the eyes of management.”
Furthermore, our management uses these Non-GAAP financial measures to assist them in making decisions regarding our strategic priorities and areas for future investment and focus.
The terms Non-GAAP net income (loss), EBITDA and Adjusted EBITDA are not defined under U.S. GAAP, and are not measures of operating income, operating performance or liquidity presented in accordance with U.S. GAAP. Our Non-GAAP net income (loss), EBITDA and Adjusted EBITDA have limitations as analytical tools, and when assessing our operating performance, Non-GAAP net income (loss), EBITDA and Adjusted EBITDA should not be considered in isolation, or as a substitute for net income (loss) or other consolidated income statement data prepared in accordance with U.S. GAAP. Some of these limitations include, but are not limited to:
•
EBITDA and Adjusted EBITDA do not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments;
•
these measures do not reflect changes in, or cash requirements for, our working capital needs;
•
Non- GAAP net income (loss) and Adjusted EBITDA do not reflect the cash requirements necessary for litigation costs, including provision for litigation and litigation expenses;
•
these measures do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on our debt that we may incur;
•
these measures do not reflect income taxes or the cash requirements for any tax payments;
•
although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will be replaced sometime in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements;
•
while share-based compensation is a component of operating expense, the impact on our financial statements compared to other companies can vary significantly due to such factors as the assumed life of the options and the assumed volatility of our common stock; and
•
other companies may calculate Non-GAAP net income (loss), EBITDA and Adjusted EBITDA differently than we do, limiting their usefulness as comparative measures.
We compensate for these limitations by relying primarily on our U.S. GAAP results and using Non-GAAP net income (loss), EBITDA and Adjusted EBITDA only as supplemental support for management’s analysis of business performance. Non-GAAP net income (loss), EBITDA and Adjusted EBITDA are calculated as follows for the periods presented in thousands:
Reconciliation of Non-GAAP Financial Measures
In accordance with the requirements of Item 10(e) of Regulation S-K, we are presenting the most directly comparable U.S. GAAP financial measures and reconciling the unaudited Non-GAAP financial metrics to the comparable U.S. GAAP measures. Per share amounts may not foot due to rounding.





Exhibit 99.1


Limelight Networks, Inc.
Reconciliation of U.S. GAAP Net Income (Loss) to Non-GAAP Net Income
(In thousands)
(Unaudited)
 
Three Months Ended
 
Twelve Months Ended
 
December 31, 2018
 
September 30, 2018
 
December 31, 2017
 
December 31, 2018
 
December 31, 2017
 
Amount
 
Per Share
 
Amount
 
Per Share
 
Amount
 
Per Share
 
Amount
 
Per Share
 
Amount
 
Per Share
U.S. GAAP net (loss) income
$
(5,193
)
 
$
(0.05
)
 
$
(272
)
 
$
—

 
$
(912
)
 
$
(0.01
)
 
$
9,842

 
$
0.09

 
$
(7,630
)
 
$
(0.07
)
Settlement and patent license income
—

 
—

 
—

 
—

 
—

 
—

 
(14,900
)
 
(0.13
)
 
—

 
—

Share-based compensation
5,485

 
0.05

 
3,421

 
0.03

 
3,302

 
0.03

 
15,830

 
0.14

 
12,744

 
0.12

Litigation expenses
3

 
—

 
19

 
—

 
1,470

 
0.01

 
2,907

 
0.03

 
5,518

 
0.05

Non-GAAP net income
$
295

 
$
—

 
$
3,168

 
$
0.03

 
$
3,860

 
$
0.04

 
$
13,679

 
$
0.12

 
$
10,632

 
$
0.10

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average shares
used in per share calculation:
 
 
113,578

 
 
 
112,760

 
 
 
110,128

 
 
 
112,114

 
 
 
108,814



Limelight Networks, Inc.
Reconciliation of U.S. GAAP Net Income (Loss) to EBITDA to Adjusted EBITDA
(In thousands)
(Unaudited)
 
Three Months Ended
 
Twelve Months Ended
 
December 31,
 
September 30,
 
December 31,
 
December 31,
 
December 31,
 
2018
 
2018
 
2017
 
2018
 
2017
U.S. GAAP net (loss) income
$
(5,193
)
 
$
(272
)
 
$
(912
)
 
$
9,842

 
$
(7,630
)
Depreciation and amortization
4,417

 
4,377

 
5,131

 
18,590

 
20,514

Interest expense
10

 
10

 
38

 
86

 
80

Interest and other (income) expense
(320
)
 
69

 
(332
)
 
(406
)
 
(946
)
Income tax expense (benefit)
190

 
113

 
(22
)
 
538

 
426

EBITDA
$
(896
)
 
$
4,297

 
$
3,903

 
$
28,650

 
$
12,444

Settlement and patent license income
—

 
—

 
—

 
(14,900
)
 
—

Share-based compensation
5,485

 
3,421

 
3,302

 
15,830

 
12,744

Litigation expenses
3

 
19

 
1,470

 
2,907

 
5,518

Adjusted EBITDA
$
4,592

 
$
7,737

 
$
8,675

 
$
32,487

 
$
30,706

For future periods, we are unable to provide a reconciliation of EBITDA and Adjusted EBITDA to net loss as a result of the uncertainty regarding, and the potential variability of, the amounts of depreciation and amortization, interest expense, interest and other (income) expense and income tax expense, that may be incurred in the future.
Conference Call
At approximately 4:30 p.m. EST (1:30 p.m. PST) today, management will host a quarterly conference call for investors. Investors can access this call toll-free at 877-296-5190 within the United States or +1 412-317-5233 outside of the U.S. The conference call will also be audio cast live from http://www.limelight.com and a replay will be available following the call from the Limelight website.


Exhibit 99.1

Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. These statements include, among others, statements regarding our expectations regarding revenue, gross margin, non-GAAP net income, capital expenditures, litigation, and our future prospects. Our expectations and beliefs regarding these matters may not materialize. The potential risks and uncertainties that could cause actual results or outcomes to differ materially from the results or outcomes predicted include, among other things, reduction of demand for our services from new or existing customers, unforeseen changes in our hiring patterns, adverse outcomes in litigation, and experiencing expenses that exceed our expectations. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Forms 10-K and 10-Q, particularly under the heading “Risk Factors.” Copies of these filings are available online on our investor relations website at investors.limelightnetworks.com and on the SEC website at www.SEC.gov. All information provided in this release and in the attachments is as of January 30, 2019, and we undertake no duty to update this information in light of new information or future events, unless required by law.
About Limelight
Limelight Networks, Inc. (NASDAQ: LLNW), a leading provider of digital content delivery, video, cloud security, and edge computing services, empowers customers to provide exceptional digital experiences. Limelight’s edge services platform includes a unique combination of global private infrastructure, intelligent software, and expert support services that enable current and future workflows. For more information, please visit www.limelight.com, and read follow us on Twitter, Facebook and LinkedIn.
Copyright (C) 2019 Limelight Networks, Inc. All rights reserved. All product or service names are the property of their respective owners.
Source: Limelight Networks
Language:
English
CONTACT:
Limelight Networks, Inc.
Sajid Malhotra, 602-850-5778
ir@llnw.com
Ticker Slug:
Ticker: LLNW
Exchange: NASDAQ



Limelight Networks, Inc. Reports