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Limelight Networks Reports Fourth-Quarter and Full-Year 2020 Results

Company Release - 02/11/2021
  • Record annual revenue of $230.2 million increases 15% from 2019
  • 2020 GAAP net loss of $(19.3) million versus $(16.0) million in 2019
  • Full-year Adjusted EBITDA of $24.5 million rises 35% from 2019
  • Bob Lyons named new President and Chief Executive Officer

SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- Limelight Networks, Inc. (Nasdaq: LLNW) (Limelight), a leading provider of video delivery and edge cloud services, today reported results for its fourth quarter and year ended December 31, 2020.

Fourth-quarter Results

For the 2020 fourth quarter, the company generated revenue of $55.4 million, compared to $60.1 million in the fourth quarter of 2019.

GAAP net loss was $(8.3) million, or $(0.07) per basic share for the 2020 fourth quarter, compared to net income of $2.5 million, or $0.02 per basic share in the 2019 period. GAAP net loss included $2.2 million of interest expense related to Limelight’s senior convertible notes issued during the 2020 third quarter.

Non-GAAP net loss was $(3.8) million or $(0.03) per basic share for the 2020 fourth quarter, versus non-GAAP net income of $5.8 million, or $0.05 per basic share in 2019. The non-GAAP net loss excluded $1.0 million of interest expense related to the company’s convertible notes noted above.

Fourth-quarter adjusted EBITDA was $3.6 million, versus $11.4 million for the fourth quarter of 2019.

“I am excited to join Limelight, a company with an impressive list of blue-chip customers, in a large and growing market with a unique set of capabilities and solid foundation to build on,” said Bob Lyons, President and Chief Executive Officer. “Our global network and connectivity to billions of people, combined with the digital transformation creates enormous opportunity for us in edge content delivery, computing and cybersecurity.”

“Our immediate focus is the challenges we faced in the fourth quarter, specifically top-line growth and the resulting pressure on margins. Quite frankly, performance in these areas is not where it should be. I believe in our ability to close the gaps and position Limelight as a leader delivering edge-based solutions. While there is no doubt much has been accomplished, I know that our best days are ahead of us. I am confident in the direction we are headed, in our ability to better execute on a refined strategy and pursue rule-of-40 performance,” said Lyons.

Full-year Results

For the full year ended December 31, 2020, Limelight reported revenue of $230.2 million, a 15% increase from $200.6 million in 2019.

The company’s 2020 GAAP net loss was $(19.3) million, or $(0.16) per basic share, versus a net loss of $(16.0) million, or $(0.14) per basic share, in 2019. The 2020 GAAP net loss included $3.8 million of interest expense related to Limelight’s senior convertible notes noted above.

Non-GAAP net loss was $(1.6) million, or $(0.01) per basic share, for the year ended December 31, 2020, compared to non-GAAP net loss of $(2.3) million, or $(0.02) per basic share, in 2019.

Limelight reported adjusted EBITDA of $24.5 million for 2020, compared to $18.1 million in 2019.

The company does not plan to issue guidance for 2021 at this time. With new leadership and active efforts underway to evaluate all aspects of the business strategy and cost structure, the focus is on immediate and long-term steps to position the company as a leader delivering edge-based solutions. Additional details will be provided as the company formalizes these plans.

Said Lyons, “Limelight delivered a successful year on multiple fronts – but we have work to do. Our industry is on an upward trajectory – and we enter 2021 laser-focused on building a platform for profitable growth.”

Financial Tables

 
LIMELIGHT NETWORKS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
 
 

December 31,

 

September 30,

 

December 31,

2020

 

2020

 

2019

(Unaudited)

 

(Unaudited)

 

 

ASSETS
Current assets:
Cash and cash equivalents

$

46,795

 

$

75,169

 

$

18,335

 

Marketable securities

 

76,928

 

 

49,623

 

 

-

 

Accounts receivable, net

 

31,675

 

 

42,222

 

 

34,476

 

Income taxes receivable

 

68

 

 

81

 

 

82

 

Prepaid expenses and other current assets

 

15,588

 

 

12,561

 

 

9,920

 

Total current assets

 

171,054

 

 

179,656

 

 

62,813

 

Property and equipment, net

 

46,418

 

 

47,493

 

 

46,136

 

Operating lease right of use assets

 

10,150

 

 

10,844

 

 

12,842

 

Marketable securities, less current portion

 

40

 

 

40

 

 

40

 

Deferred income taxes

 

1,530

 

 

1,428

 

 

1,319

 

Goodwill

 

77,753

 

 

77,126

 

 

77,102

 

Other assets

 

7,233

 

 

7,459

 

 

9,117

 

Total assets

$

314,178

 

$

324,046

 

$

209,369

 

 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable

$

4,587

 

$

12,437

 

$

12,020

 

Deferred revenue

 

933

 

 

797

 

 

976

 

Operating lease liability obligations

 

2,465

 

 

2,654

 

 

2,056

 

Income taxes payable

 

253

 

 

153

 

 

178

 

Other current liabilities

 

17,560

 

 

17,584

 

 

13,398

 

Total current liabilities

 

25,798

 

 

33,625

 

 

28,628

 

Convertible senior notes, net

 

100,945

 

 

99,937

 

 

-

 

Operating lease liability obligations, less current portions

 

11,265

 

 

11,745

 

 

13,488

 

Deferred income taxes

 

279

 

 

251

 

 

239

 

Deferred revenue, less current portion

 

220

 

 

230

 

 

161

 

Other long-term liabilities

 

479

 

 

579

 

 

316

 

Total liabilities

 

138,986

 

 

146,367

 

 

42,832

 

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; 123,653, 122,824 and 118,368 shares issued and
outstanding at December 31, 2020, September 30, 2020 and December 31, 2019, respectively

 

124

 

 

123

 

 

118

 

Additional paid-in capital

 

556,512

 

 

552,559

 

 

530,285

 

Accumulated other comprehensive loss

 

(7,511

)

 

(9,379

)

 

(9,210

)

Accumulated deficit

 

(373,933

)

 

(365,624

)

 

(354,656

)

Total stockholders' equity

 

175,192

 

 

177,679

 

 

166,537

 

Total liabilities and stockholders' equity

$

314,178

 

$

324,046

 

$

209,369

 

LIMELIGHT NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
 
 

Three Months Ended

 

Twelve Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

September 30,

 

Percent

 

December 31,

 

Percent

 

December 31,

 

December 31,

 

Percent

2020

 

2020

 

Change

 

2019

 

Change

 

2020

 

2019

 

Change

 
Revenue

$

55,394

 

$

59,243

 

-6%

$

60,129

 

-8%

$

230,194

 

$

200,634

 

15%

Cost of revenue:

 

 

 

Cost of services (1)

 

33,103

 

 

31,905

 

4%

 

28,586

 

16%

 

125,509

 

 

99,897

 

26%

Depreciation - network

 

5,468

 

 

5,602

 

-2%

 

5,288

 

3%

 

21,579

 

 

19,193

 

12%

Total cost of revenue

 

38,571

 

 

37,507

 

3%

 

33,874

 

14%

 

147,088

 

 

119,090

 

24%

Gross profit

 

16,823

 

 

21,736

 

-23%

 

26,255

 

-36%

 

83,106

 

 

81,544

 

2%

Gross profit percentage

 

30.4

%

 

36.7

%

 

 

43.7

%

 

 

36.1

%

 

40.6

%

 

Operating expenses:

 

 

 

General and administrative (1)

 

7,464

 

 

7,751

 

-4%

 

7,554

 

-1%

 

31,284

 

 

30,785

 

2%

Sales and marketing (1)

 

9,666

 

 

10,456

 

-8%

 

10,399

 

-7%

 

42,945

 

 

43,078

 

0%

Research & development (1)

 

5,066

 

 

5,425

 

-7%

 

5,459

 

-7%

 

21,680

 

 

22,534

 

-4%

Depreciation and amortization

 

542

 

 

384

 

41%

 

328

 

65%

 

1,591

 

 

872

 

82%

Total operating expenses

 

22,738

 

 

24,016

 

-5%

 

23,740

 

-4%

 

97,500

 

 

97,269

 

0%

 

 

 

Operating (loss) income

 

(5,915

)

 

(2,280

)

NM

 

2,515

 

NM

 

(14,394

)

 

(15,725

)

NM

 

 

 

Other income (expense):

 

 

 

Interest expense

 

(2,183

)

 

(1,674

)

NM

 

(45

)

NM

 

(3,939

)

 

(76

)

NM

Interest income

 

29

 

 

10

 

NM

 

25

 

NM

 

69

 

 

427

 

NM

Other, net

 

28

 

 

25

 

NM

 

169

 

NM

 

(368

)

 

80

 

NM

Total other (expense) income

 

(2,126

)

 

(1,639

)

NM

 

149

 

NM

 

(4,238

)

 

431

 

NM

 

 

 

(Loss) income before income taxes

 

(8,041

)

 

(3,919

)

NM

 

2,664

 

NM

 

(18,632

)

 

(15,294

)

NM

Income tax expense

 

268

 

 

66

 

NM

 

206

 

NM

 

645

 

 

750

 

NM

 

 

 

Net (loss) income

 

(8,309

)

 

(3,985

)

NM

 

2,458

 

NM

 

(19,277

)

 

(16,044

)

NM

 
Net (loss) income per share:
Basic

$

(0.07

)

$

(0.03

)

$

0.02

 

$

(0.16

)

$

(0.14

)

Diluted

$

(0.07

)

$

(0.03

)

$

0.02

 

$

(0.16

)

$

(0.14

)

 
Weighted average shares used in per share calculation:
Basic

 

123,225

 

 

122,363

 

 

117,603

 

 

121,196

 

 

115,890

 

Diluted

 

123,225

 

 

122,363

 

 

123,801

 

 

121,196

 

 

115,890

 

(1) Includes share-based compensation (see supplemental table for figures)
LIMELIGHT NETWORKS, INC.
SUPPLEMENTAL FINANCIAL DATA
(In thousands)
(Unaudited)
 
 

Three Months Ended

 

Twelve Months Ended

 

 

 

 

 

 

 

 

 

December 31,

 

September 30,

 

December 31,

 

December 31,

 

December 31,

2020

 

2020

 

2019

 

2020

 

2019

 
 
Share-based compensation:
 
Cost of services

$

313

 

$

130

$

376

$

1,998

$

1,495

 

General and administrative

 

1,840

 

 

1,272

 

1,858

 

7,611

 

8,098

 

Sales and marketing

 

764

 

 

206

 

597

 

3,519

 

2,263

 

Research and development

 

562

 

 

315

 

484

 

2,589

 

1,922

 

 
Total share-based compensation

$

3,479

 

$

1,923

$

3,315

$

15,717

$

13,778

 

 
Depreciation and amortization:
 
Network-related depreciation

$

5,468

 

$

5,602

$

5,288

$

21,579

$

19,193

 

Other depreciation and amortization

 

542

 

 

384

 

328

 

1,591

 

872

 

 
Total depreciation and amortization

$

6,010

 

$

5,986

$

5,616

$

23,170

$

20,065

 

 
 
Net increase (decrease) in cash, cash equivalents and marketable securities:

$

(1,069

)

$

106,592

$

285

$

105,388

$

(32,131

)

 
 
End of period statistics:
 
Approximate number of active customers

 

527

 

 

534

 

599

 

527

 

599

 

 
Number of employees and employee equivalents

 

618

 

 

620

 

610

 

618

 

610

 

LIMELIGHT NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
 
 

Three Months Ended

 

Twelve Months Ended

 

 

 

 

 

 

 

 

 

December 31,

 

September 30,

 

December 31,

 

December 31,

 

December 31,

2020

 

2020

 

2019

 

2020

 

2019

 
Operating activities
Net income (loss)

$

(8,309

)

$

(3,985

)

$

2,458

 

$

(19,277

)

$

(16,044

)

 
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization

 

6,010

 

 

5,986

 

 

5,616

 

 

23,170

 

 

20,065

 

Share-based compensation

 

3,479

 

 

1,923

 

 

3,315

 

 

15,717

 

 

13,778

 

Foreign currency remeasurement (gain) loss

 

327

 

 

27

 

 

79

 

 

214

 

 

(25

)

Deferred income taxes

 

(14

)

 

(95

)

 

300

 

 

(94

)

 

270

 

Loss (gain) on sale of property and equipment

 

7

 

 

(1

)

 

-

 

 

6

 

 

(56

)

Accounts receivable charges

 

325

 

 

163

 

 

519

 

 

801

 

 

1,793

 

Amortization of premium on marketable securities

 

519

 

 

87

 

 

1

 

 

606

 

 

30

 

Realized loss on marketable securities

 

(3

)

 

-

 

 

9

 

 

(3

)

 

9

 

Noncash interest expense

 

1,070

 

 

868

 

 

-

 

 

1,938

 

 

-

 

Changes in operating assets and liabilities:
Accounts receivable

 

10,221

 

 

2,862

 

 

823

 

 

2,000

 

 

(10,228

)

Prepaid expenses and other current assets

 

(3,038

)

 

(2,232

)

 

(324

)

 

(5,717

)

 

(1,101

)

Income taxes receivable

 

16

 

 

(10

)

 

(3

)

 

19

 

 

40

 

Other assets

 

258

 

 

757

 

 

(1,547

)

 

2,762

 

 

(4,188

)

Accounts payable and other current liabilities

 

(9,228

)

 

1,222

 

 

(2,383

)

 

(1,069

)

 

1,292

 

Deferred revenue

 

126

 

 

(172

)

 

(232

)

 

17

 

 

(789

)

Income taxes payable

 

86

 

 

(17

)

 

(143

)

 

71

 

 

61

 

Payments related to litigation, net

 

-

 

 

-

 

 

-

 

 

-

 

 

(3,040

)

Other long term liabilities

 

(99

)

 

276

 

 

15

 

 

167

 

 

(121

)

Net cash provided by operating activities

 

1,753

 

 

7,659

 

 

8,503

 

 

21,328

 

 

1,746

 

 
Investing activities
Purchases of marketable securities

 

(36,064

)

 

(52,690

)

 

-

 

 

(88,754

)

 

(10,279

)

Sale and maturities of marketable securities

 

8,272

 

 

2,900

 

 

3,211

 

 

11,172

 

 

35,364

 

Purchases of property and equipment

 

(2,957

)

 

(7,180

)

 

(10,480

)

 

(25,085

)

 

(34,704

)

Proceeds from sale of property and equipment

 

1

 

 

1

 

 

-

 

 

2

 

 

51

 

Net cash used in investing activities

 

(30,748

)

 

(56,969

)

 

(7,269

)

 

(102,665

)

 

(9,568

)

 
Financing activities
Proceeds from issuance of debt, net

 

-

 

 

121,600

 

 

-

 

 

121,600

 

 

-

 

Purchase of capped calls

 

-

 

 

(16,413

)

 

-

 

 

(16,413

)

 

-

 

Payment of debt issuance costs

 

(75

)

 

(784

)

 

-

 

 

(859

)

 

-

 

Payment of employee tax withholdings related to restricted stock vesting

 

(891

)

 

(1,041

)

 

(1,079

)

 

(4,878

)

 

(3,607

)

Proceeds from employee stock plans

 

1,377

 

 

2,598

 

 

3,290

 

 

10,068

 

 

4,406

 

Net cash provided by financing activities

 

411

 

 

105,960

 

 

2,211

 

 

109,518

 

 

799

 

Effect of exchange rate changes on cash and cash equivalents

 

210

 

 

319

 

 

58

 

 

279

 

 

(25

)

Net increase (decrease) in cash and cash equivalents

 

(28,374

)

 

56,969

 

 

3,503

 

 

28,460

 

 

(7,048

)

Cash and cash equivalents, beginning of period

 

75,169

 

 

18,200

 

 

14,832

 

 

18,335

 

 

25,383

 

Cash and cash equivalents, end of period

$

46,795

 

$

75,169

 

$

18,335

 

$

46,795

 

$

18,335

 

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 income (loss) adjusted to exclude share-based compensation and non-cash interest expense. 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 share-based compensation. 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 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.

 
LIMELIGHT NETWORKS, INC.
Reconciliation of U.S. GAAP Net Income (Loss) to Non-GAAP Net Income (Loss)
(In thousands)
(Unaudited)
 
 
Three Months Ended Twelve Months Ended
 
December 31, 2020 September 30, 2020 December 31, 2019 December 31, 2020 December 31, 2019
Amount Per Share Amount Per Share Amount Per Share Amount Per Share Amount Per Share
 
U.S. GAAP net (loss) income

$

(8,309

)

$

(0.07

)

$

(3,985

)

$

(0.03

)

$

2,458

$

0.02

$

(19,277

)

$

(0.16

)

$

(16,044

)

$

(0.14

)

 
Share-based compensation

 

3,479

 

 

0.03

 

 

1,923

 

 

0.02

 

 

3,315

 

0.03

 

15,717

 

 

0.13

 

 

13,778

 

 

0.12

 

Noncash interest expense

 

1,070

 

 

0.01

 

 

868

 

 

0.01

 

 

-

 

-

 

1,938

 

 

0.02

 

 

-

 

 

-

 

 
Non-GAAP net (loss) income

$

(3,760

)

$

(0.03

)

$

(1,194

)

$

(0.01

)

$

5,773

$

0.05

$

(1,622

)

$

(0.01

)

$

(2,266

)

$

(0.02

)

 
 
Weighted average shares used in per share calculation

 

123,225

 

 

122,363

 

 

117,603

 

121,196

 

 

115,890

 

LIMELIGHT NETWORKS, INC.
Reconciliation of U.S. GAAP Net 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,

2020

 

2020

 

2019

 

2020

 

2019

 
U.S. GAAP net (loss) income

$

(8,309

)

$

(3,985

)

$

2,458

 

$

(19,277

)

$

(16,044

)

 
Depreciation and amortization

 

6,010

 

 

5,986

 

 

5,616

 

 

23,170

 

 

20,065

 

Interest expense

 

2,183

 

 

1,674

 

 

45

 

 

3,939

 

 

76

 

Interest and other (income) expense

 

(57

)

 

(35

)

 

(194

)

 

299

 

 

(507

)

Income tax expense

 

268

 

 

66

 

 

206

 

 

645

 

 

750

 

 
EBITDA

$

95

 

$

3,706

 

$

8,131

 

$

8,776

 

$

4,340

 

 
Share-based compensation

 

3,479

 

 

1,923

 

 

3,315

 

 

15,717

 

 

13,778

 

 
Adjusted EBITDA

$

3,574

 

$

5,629

 

$

11,446

 

$

24,493

 

$

18,118

 

For future periods, we are unable to provide a reconciliation of EBITDA and Adjusted EBITDA to net income (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.

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 (loss), capital expenditures, 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 February 11, 2021, 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, visit www.limelight.com, and follow us on Twitter, Facebook and LinkedIn.

Copyright (C) 2021 Limelight Networks, Inc. All rights reserved. All product or service names are the property of their respective owners.

Limelight Networks, Inc.
Dan Boncel, 602 850 4810
ir@llnw.com

Source: Limelight Networks, Inc.

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