This From Wall Street note provides information, opinions and insight on Poly’s financial results.
[ More information on Poly ]
- GAAP revenues of $421M, down 16% year over year and up 3% quarter over quarter
- Video revenues of $126M, down 7% year over year and up 20% quarter over quarter
- Services revenue of $54M, down 20% year over year and 4% quarter over quarter
- GAAP operating income of -$17M, down from $34M a year earlier and -$6M last quarter
- Non-GAAP operating income of $35M, down 54% year over year and 9% quarter over quarter
- Poly’s fiscal quarters and calendar quarters are different. We use calendar quarters to facilitate comparisons between companies.
- Poly started trading under the ticker symbol POLY on May 24, 2021.
- On March 28, 2022, HP, Inc. announced a definitive agreement to acquire Poly in an all-cash transaction for $40 per share (total value of ~ $3.3B), inclusive of Poly’s net debt.
- Poly did not conduct a results conference call or provide an earnings presentation this quarter. However, the company filed its annual 10-K and quarterly 8-Q reports in May 2022.
- Poly did not release per-category revenue figures this quarter. For this reason, the numbers within this report were estimated using annual revenue totals for each category and sequential and annual growth figures provided by the company. Hence, our figures are likely to include rounding errors.