Envivio narrows losses
September 7, 2015
Envivio, a provider of software-based video processing and delivery solutions, has announced financial results for the quarter ended July 31st 2015.
“We are pleased by our second quarter results and our significant progress towards profitability. Revenues of $11.7 million were driven by strong order momentum resulting from several large Tier 1 customer wins, combined with significant expansion orders,” said Julien Signès, founder and CEO of Envivio. “We continue to balance our progress toward profitability with investing in our future through innovation in key areas. We signed our first Nuage international customer and are also seeing accelerated momentum for large, software only converged head-end solutions.”
Financial Highlights include:
– Revenue for the second quarter of fiscal 2016 was $11.7 million, compared with $9.5 million in the first quarter of fiscal 2016 and $11.5 million in the second quarter of fiscal 2015.
– GAAP net loss for the second quarter of fiscal 2016 was $0.6 million, compared with $0.8 million, in the first quarter of fiscal 2016.