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Envivio Reports Fourth Quarter Fiscal 2015 Financial Results
Q4 revenue was $12.7 million, up 42% sequentially
Company expanded customer base at several Tier 1 customers
SOUTH SAN FRANCISCO, Calif., March 19, 2015 Envivio, Inc. (Nasdaq:ENVI), a leading provider of software-based video processing and delivery solutions, today announced financial results for the fourth quarter and fiscal year 2015 ending January 31, 2015.
|||Revenue for the fourth quarter of fiscal 2015 was $12.7 million, compared with $9.0 million in the third quarter of fiscal 2015 and $12.5 million in the fourth quarter of fiscal 2014. Revenue for fiscal year 2015 was $41.6 million, compared with $43.2 million in fiscal 2014.|
|||GAAP net loss for the fourth quarter of fiscal 2015 was $1.6 million, or $0.06 per share, compared with a net loss of $5.4 million, or $0.20 per share, in the third quarter of fiscal 2015 and net loss of $2.0 million, or $0.08 per share, in the fourth quarter of fiscal 2014. GAAP net loss for fiscal 2015 was $15.6 million, or $0.57 per share, compared with net loss of $12.2 million, or $0.45 per share in fiscal 2014.|
|||Non-GAAP net loss for the fourth quarter of fiscal 2015 was $0.5 million, or $0.02 per share. This is compared with a net loss of $4.1 million, or $0.15 per share, in the third quarter of fiscal 2015 and net loss of $1.4 million, or $0.05 per share, in the fourth quarter of fiscal 2014. Non-GAAP net loss for fiscal 2015 was $13 million compared with a net loss of $9.8 million in the prior year.|
|||The GAAP and non-GAAP results for the fourth quarter of fiscal 2015 includes a one-time charge of $0.7 million related to restructuring expenses.|
We are encouraged by our results, and by the positive business environment as we head into fiscal 2016. While we have been impacted by the consolidation in the market, we are starting to see results from the increased adoption of our video processing software solutions in our customer base, said Julien Signès, founder and CEO of Envivio.
In the fourth quarter three U.S. service providers contributed significant revenue from incremental purchases of Envivio products and services. Additionally, we received an order from a leading Latin America Tier 1 customer who chose Envivio for key expansions, products and services. This resulted in sequential top line growth in the fourth quarter. Revenue for the quarter was $12.7 million, up 42% sequentially, added Signès. Over the last quarter we have taken a number of initiatives to reduce our expenses and are pleased to report a reduction in our losses as we drive towards profitability.
As of January 31, 2015, Envivio had cash and cash equivalents of $37.8 million, compared with $37.9 million at the end of the prior quarter.
Q4 Business and Product Highlights
|||Tier 1 Operator Revenue Three U.S. and one international Tier 1 service providers contributed significant revenue from incremental purchases of Envivio products and services.|
|||New Customers Envivio added four new customers to its roster of leading broadcast and operator companies.|
The following information was filed by Envivio Inc (ENVI) on Thursday, March 19, 2015 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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