Export RestrictionsSofter revenue was due to new restrictions in the exporting germanium from China, which were announced in December and are likely to remain a headwind near term.
Financial PerformanceSlightly lower revenue, lower gross margin, and higher operating expense resulted in an adjusted EBITDA loss significantly below estimates.
Stock ReactionThe stock's reaction, declining 19%, is believed to be due to the changes in the capital structure rather than the acquisition or financial results.