Envivio reduces losses
March 20, 2015
Envivio, a provider of software-based video processing and delivery solutions, has announced financial results for the fourth quarter and fiscal year 2015 ending January 31st 2015.
Revenue for the fourth quarter was $12.7 million, compared with $9 million in the third quarter of fiscal 2015 and $12.5 million in the fourth quarter of fiscal 2014. Revenue for fiscal year was $41.6 million, compared with $43.2 million in fiscal 2014.
“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,” commented Julien Signès, founder and CEO of Envivio.
“In the fourth quarter three US 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 per cent 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.”