revenue and order. to and continued well high better the Thank through our margin. NeoPhotonics in execute expected gross afternoon. speed for good you, resulted Wupen, demand second than products Increased
$XX XXX As Tim lasers gig was above for have three products. and customers. In and our strong mentioned, we revenue demand million XX% quarter, on the
of timing QX the year. shipments basis. product QX As product somewhat was lack we The R&D to million issue. restarted new mix, mid levels on set in do we shift quarter, of the rate And for a capacity at accounting last not sales for a revenue $X.X charges. was million, quarterly in above digit excess expected of products. margin as Non-GAAP to and is an approximately said the be quarters. of of customer the We result to for shift previous single of limited to XX% run given to by Huawei materials related the Product introduction. margin the from in favorable offset our a expected be cost gross a expense XX.X% XX.X% we of of range $XX high millions their to was higher shipments Huawei expect
review the million to due underutilization indium charges. year. quarter drop loss QX expense last R&D per in million expect of complete expense $X.X allocated We for of was to $X.XX of previously to impact our a foreign loss capacity cents. cost volume Non-GAAP to FX was and $XX.X shift than share. This expected mentioned. on million these $X.X operating phosphide charges a an or net was primarily of second the the production, jurisdictions. resulted $XX.X was $X.XX loss lower loss we ramp higher Tax share close quarter consolidation non-GAAP in profits excess sales Non-GAAP estimate result lower a announced than statement midpoint of $X.XX of of $XX.X million the of I better of for a second operating I we due as the This will quarter our the discussion quarter GAAP and as a results. revenue. as is our higher to the out my last income million our with than
up was that compliance Second for due QX, write-down expense of in product million, quarter mostly based the million EOL for we $X.X product. down million This charge $XX.X to we loss depreciation inventory Operating XX.X% million, million gross supply $X.X to a materials margin from the Huawei. were stock and that was was QX, the throughout compensation the costs. charged a shipping on million on was accelerated could $XX.X expense. $X.X included and was continued net other XX.X% Operating million from mostly and of loss of write-down, uncertainty second $X.X R&D ensure to $XX.X this inventory chain amortization, quarter taken which
variable $XX from Days investments on and to million million, million balance QX with to as days, new the we quarter and we inventory improved to the of critical buffer pay $X inventory $XX costs, XXXX inventory product Turning XX down the million ramps. restricted in cash $XX startup sheet; new down down finished product product the compensation of was and cash, of the Net support the continue EOL. on even debt. payment
to increasing the and lasers demand our increase our for in we seeing particularly modules. XXX expected the gig components, Looking capable leading our for QX, demand are
adverse due However, a an QX. has new timing million supplier that in decommit to chip we on have shortage revenue $X a impact
possible have for actions mitigation our confirmed to the range. we have and progress the meet end outcomes, of inventory widened the allow We to low and in meaning have supply range
of that the working to to have could midpoint We end the actions mitigation the reach in high the and confidence range. us allow reach actions are
the QX. have While demand to non-GAAP supply to to are sufficient operating breakeven QX, profit extending the chain in achieve timing limitations reach we
cent of million $X.XX As are; a earnings These to loss per $XX gross September breakeven. reflective non-GAAP range GAAP $X.XX million, range a result, of basic of range in a XXXX margin are the numbers range million in non-GAAP in $XX revenue and XX%. to the loss share the margin diluted of GAAP per diluted $X.XX company's in expectations for to the earnings range loss of share the to the XX.X quarter of gross XX%; in approximately the XX% to XX% shares.
the at year rate to for the approaching continued the consistent we This one gig accelerated grow high expect levels forward year, Looking to capable reflects products. growth rest of And XX% XX%, to an the demand and XXX with ago. revenue Huawei. target of our of excluding above
and Over the longer term, to continue XXXZR+ market size estimates pluggable modules for increase. XXXZR
in we strength our forecasted module to the BIS structure accelerated restrictions pivot tightened customers. revenue As we size and our on the significant In we support following we year, parallel, to ramp, able ramps. confidence our gain maintain to of may capital review to Huawei. we focus customer Last that be cloud ensure lost flexibility
with we module half. doubling; XXX are the would As second track ports each QX. XXXZR products that Even ramp embarked to And those the gig operating on coherent path, non-GAAP new back we chain is get number supply on expected said above in XXXX. new profit of and we being for this the to goals in shipped approximately to would year we have we issues,
we XXX QX. Our year-over-year above year-over-year and or to total capable XXX% gig in expect be grew revenue XXX% growth higher. And
We later non-GAAP with QX. operating stage we hyperscale for profit in in target now XXXZR. are breakeven expect achieve to customers qualification And
forward path vectors that, year about up With company open our will with pleased are operator over last hyperscale our market. and Melinda? the are questions. excited and the in line growth additional now performance the for We our the
