Please wait while we load the requested 10-Q report or click the link below:
Opower Announces First Quarter 2015 Financial Results
Reports Revenue of $33.4 million, 17% year-over-year growth
ARLINGTON, Va. May 12, 2015 Opower (NYSE: OPWR), a leading provider of cloud-based software for the utility industry, today announced its financial results for the first quarter of 2015. The company ended the quarter with revenue of $33.4 million, an increase of 17 percent year-over-year.
Opower is off to a strong start in 2015, delivering first quarter results that beat our expectations for revenue and the bottom line, said Dan Yates, chief executive officer of Opower. We expect to build on this momentum throughout the year to further secure our market leadership position.
Opower has signed a contract with Pacific Gas and Electric (PG&E) that is the largest in Opower history. Opower is expecting to begin recognizing revenue from this contract in 2016.
This contract with PG&E validates our belief that utilities seek to consolidate their customer engagement solutions with a single strategic vendor. We believe our platform is the solution that utilities need as they replace disjointed applications that are costly to maintain and produce an unsatisfying experience for customers, said Yates.
First Quarter 2015 Financial Highlights
|||Total revenue for the first quarter 2015 was $33.4 million, an increase of 17% from the comparable period in 2014.|
|||GAAP operating loss was $(9.9) million, compared to an operating loss of $(7.3) million for the comparable period in 2014.|
|||Non-GAAP operating loss was $(4.9) million, compared to a non-GAAP operating loss of $(5.7) million for the comparable period in 2014.|
|||GAAP net loss was $(11.0) million, compared to a net loss of $(7.0) million for the comparable period in 2014. GAAP net loss per share was $(0.22), based on 50.5 million weighted-average common shares outstanding, compared to a GAAP net loss per share of $(0.32) for the comparable period in 2014.|
|||Non-GAAP net loss was $(6.0) million, compared to a non-GAAP net loss of $(5.3) million for the comparable period in 2014. Non-GAAP net loss per share was $(0.12), based on 50.5 million non-GAAP weighted-average common shares outstanding, compared to a non-GAAP net loss per share of $(0.13) for the comparable period in 2014.|
The following information was filed by Opower, Inc. (OPWR) on Tuesday, May 12, 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-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..