DZS says laser-focused on conversion of $150M of scheduled backlog

“As Charlie mentioned, during our earnings call later this week we will share in more detail the various changes and enhancements that have occurred since our last earnings call in early 2023,” said Misty Kawecki, CFO, DZS. “Our priority throughout the restatement and delayed reporting process has been thoroughness. While we are disappointed with the length of time it took to complete this process, including the cost, this chapter is now behind us. While we will learn from the past, our focus is looking forward. Despite the softness in capital spending by service providers, especially during the 2H 2023 and 1H 2024, we improved profitability with favorable gross margin and optimized our cost structure by 29% year-over-year. We remain laser-focused on the conversion of approximately $150 million of scheduled backlog, converting our numerous active trials to orders, cultivating a robust sales pipeline and converting $75 million of paid inventory to cash.”