Envivio is “starting to see results” from the increased adoption of its video processing software solutions among its customer base, the firm said in its latest earnings announcement.
Detailing its results for the fourth quarter and fiscal year 2015 ending January 31, the multiscreen video specialist said that quarter-over-quarter revenues improved, despite being down on a year-on-year basis.
“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,” said Envivio CEO Julien Signès.
Revenue for the quarter was US$12.7 million, compared to US$9 million in the previous quarter and US$43.2 million in the same quarter a year earlier. GAAP net loss for the fourth quarter was US$1.6 million.
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17th March 2019