Poly remains bullish despite seeing the ongoing components shortage hit revenue in its Q3.
The vendor reported sales of $410m for the quarter ending 1 January 2022, down 15.5 percent year on year.
The sales figure however exceeded analyst expectations and Poly revealed that its backlog grew $59m sequentially during the quarter, taking total backlog to “hundreds of millions of dollars”.
Poly CEO Dave Shull said on an earnings call with investors that he sees light at the end of the tunnel.
“Our backlog tells the story,” he said.
“While we're excited to see so much demand growth, we are frustrated because we want to fill our customers’ orders sooner than we currently can"
“Our supply chain team is doing extraordinary work to deliver improvements.
“Our recycling and refurbishing initiative is also working. We've already taken in approximately 15,000 devices from customers and we're in the process of refurbishing and redistributing them to customers in need. Those that can't be refurbished are recycled. A win for our customers, for us, and for our ESG initiatives.”
Shull said that Poly “sees a path” to mid-single-digit sales growth next year, with supply chain constraints continuing to have an impact in the first half of the period – but sales accelerating because of product redesigns and demand tailwinds in the second half.
