Please wait while we load the requested 10-Q report or click the link below:
Opower Announces Second Quarter 2014 Financial Results
Second quarter revenue of $31.2 million outperforms expectations
Opower live with CLP Power Hong Kong
ARLINGTON, Va.August 12, 2014 Opower (NYSE:OPWR), a leading provider of cloud-based software for the utility industry, today announced its financial results for the second quarter ended June 30, 2014.
The second quarter was strong for Opower, said Daniel Yates, Chief Executive Officer of Opower. We demonstrated the strength of our multi-pronged growth strategy and delivered revenue and adjusted EBITDA that exceeded expectations. We launched new clients and expanded existing clients. For example, Opower went live in Asia during Q2 with the launch of a program at CLP Power Hong Kong, the largest power company in Hong Kong. CLP Power launched Opowers behavioral energy efficiency solution to an initial group of residential customers and is expected to expand that solution to all residential customers in CLPs Hong Kong service area later this year.
Yates added, In addition to numerous launches, we expanded relationships with existing customers and attracted new customers to our solutions, setting the stage for continued growth in future quarters and further strengthening our leadership in the market.
Second Quarter 2014 Financial Highlights
|||Revenue was $31.2 million, an increase of 47% from the comparable period in 2013.|
|||GAAP operating loss was $(14.7) million, compared to an operating loss of $(1.3) million for the comparable period in 2013.|
|||Non-GAAP operating loss was $(5.4) million, compared to a non-GAAP operating loss of $(0.9) million for the comparable period in 2013.|
|||GAAP net loss was $(14.8) million, compared to a net loss of $(2.0) million for the comparable period in 2013. GAAP net loss per share was $(0.32), based on 46.4 million weighted-average common shares outstanding, compared to a GAAP net loss per share of $(0.09) for the comparable period in 2013.|
|||Non-GAAP net loss was $(5.5) million, compared to a non-GAAP net loss of $(1.6) million for the comparable period in 2013. Non-GAAP net loss per diluted share was $(0.12), based on 48.1 million non-GAAP weighted-average common shares outstanding, compared to a non-GAAP net loss per diluted share of $(0.04) for the comparable period in 2013.|
|||Adjusted EBITDA was a loss of $(3.7) million, compared to breakeven for the comparable period in 2013.|
The following information was filed by Opower, Inc. (OPWR) on Tuesday, August 12, 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.
View differences made from one quarter to another to evaluate Opower, Inc.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Opower, Inc..