Edgio, Inc. Announces Expected Filing Date for 2022 Annual Report

Company Expects to File by Early July with Quarterly Reports for the Period Ended March 31, 2023, and June 30, 2023, Expected to Follow in August

PHOENIX--(BUSINESS WIRE)--Edgio, Inc. (NASDAQ: EGIO) (the “Company”), today announced that it is progressing with the restatement of the Company’s previously issued financial statements in its Annual Reports on Form 10-K for the years ended December 31, 2021 and 2020, as well as the previously filed Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2022 and 2021, June 30, 2022 and 2021 and September 30, 2022 and 2021, due to an error in accounting for the Company’s Open Edge solution, and currently expects to file its Annual Report on Form 10-K for the period ended December 31, 2022 (the “Annual Report”) by early July. The Company expects to host a conference call with analysts and investors following the filing and will provide conference call details at a later date.

The Company also continues to work diligently to finalize its Quarterly Reports on Form 10-Q for the period ended March 31, 2023, and June 30, 2023 (the “Quarterly Reports”) and currently plans to file these Quarterly Reports in August.

Subsequent to these filings, the Company expects to be in compliance with the requirements for continued listing under Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”). The Company has submitted to Nasdaq a plan to regain compliance under the Listing Rule. Nasdaq has accepted the Company’s plan and granted the Company until September 12, 2023, to regain compliance.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. These statements include, among others, statements regarding the Company’s current expectations and intentions with respect to the timing of filing the Company’s Annual Report and Quarterly Reports, and statements regarding the Company’s compliance with the Listing Rule. Our expectations and beliefs regarding these matters may not materialize. It is very difficult to predict the effect of known factors, and the Company cannot anticipate all factors that could affect actual results that may be important to an investor. All forward-looking information should be evaluated in the context of these risks, uncertainties, and other factors, including those factors disclosed in our SEC filings, including our most recent reports on Form 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.edgio.com and on the SEC website at www.SEC.gov. All information provided in this release is as of June 21, 2023, and we undertake no duty to update this information in light of new information or future events, unless required by law.

About Edgio

Edgio (NASDAQ: EGIO) helps companies deliver online experiences and content faster, safer, and with more control. Our developer-friendly, globally scaled edge network, combined with our fully integrated application and media solutions, provide a single platform for the delivery of high-performing, secure web properties and streaming content. Through this fully integrated platform and end-to-end edge services, companies can deliver content quicker and more securely, thus boosting overall revenue and business value. To learn more, visit edg.io and follow us on Twitter, LinkedIn and Facebook.