Envivio Inc 10-Q Quarterly Report December 2014

SOUTH SAN FRANCISCO, Calif., December 1, 2014 — Envivio (Nasdaq:ENVI), a leading provider of software-based video processing and delivery solutions, today announced financial results for the third quarter of fiscal year 2015 ended October 31, 2014.

Financial Highlights

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Revenue for the third quarter of fiscal 2015 was $9.0 million, compared to $11.5 million in the second quarter of fiscal 2015 and $11.7 million in the third quarter of fiscal 2014.

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GAAP net loss for the third quarter of fiscal 2015 was $5.4 million, or $0.20 per share, compared to a net loss of $4.1 million, or $0.15 per share, in the second quarter of fiscal 2015 and net loss of $2.9 million, or $0.11 per share, in the third quarter of fiscal 2014.

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Non-GAAP net loss for the third quarter of fiscal 2015 was $4.1 million, or $0.15 per share, compared to net loss of $3.5 million, or $0.13 per share, in the second quarter of fiscal 2015 and net loss of $2.3 million, or $0.08 per share, in the third quarter of fiscal 2014.

“Our results were negatively impacted by softening macro-economic conditions within EMEA, and customer consolidation in the U.S., delaying certain projects. Despite our disappointing financial results, we are encouraged with the continued positive reception of our product offerings by our customers, as evidenced by our significant wins of U.S. Tier 1 service providers in the quarter. These wins are laying a foundation for future growth and are a testament to the strength of our technology and comprehensive solutions,” said Julien Signès, Founder and CEO of Envivio.

“With consolidation in our customer base constraining industry-wide capital expenditures; we are taking action to reduce our expenses without diminishing our capacity to develop innovative market leading technologies,” added Signès.

As of October 31, 2014, Envivio had cash and cash equivalents of $37.9 million, compared to $42.1 million at the end of the prior quarter.

Q3 Business and Product Highlights

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Tier 1 Operator Revenue – A U.S. tier one multi-screen operator placed a purchase order for Envivio products and services, which represented more than 10% of third quarter revenue.

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New customers – Envivio added three new customers to its roster of leading broadcast and operator companies.

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Launched new product – In October, Envivio announced the latest version of its network media processor, Envivio Halo^TM 4. Halo supports a range of video platforms including all Apple devices, such as the most recently launched iPhones and iOS tablets.

The following information was filed by Envivio Inc on Monday, December 1, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

CIK: 1174266
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-14-438917
Submitted to the SEC: Wed Dec 10 2014 3:49:27 PM EST
Accepted by the SEC: Wed Dec 10 2014
Period: Friday, October 31, 2014
Industry: Radio And Tv Broadcasting And Communications Equipment