ClearOne Q3 2024 revenue down 42% YoY but up 8.7% sequentially; OpEx cuts

CLEARONE INC

2024-Q3 EPS reported -$0.28 revenue$8,430,000

Revenue decreased 42% year over year due to past production shortages and manufacturing transition from China to Singapore.
Sequential revenue increased 8.7% from Q2 2024 to Q3 2024, indicating recovery from prior-year impacts.
Operating expenses reduced by 10.1% sequentially and 9.33% year over year from cost optimization initiatives.
CEO cited sales headwinds from lack of Microsoft Teams certification and transition to a new Middle East distributor.
BMA 360 beamforming microphone array won Utah Innovation Award; DIALOG UVHF won 2024 Communications Solutions award.

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