Encoding specialist Envivio reported a “significant progress towards profitability” in its most recent quarter after cutting its net loss to US$0.6 million.
The company said that revenue of US$11.7 million, which was up slightly year-on-year, was driven by “several large tier-one customer wins.”
“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,” said Envivio founder and CEO, Julien Signès.
Overall, the company’s reported GAAP net loss was down from US$4.1 million in the same quarter a year ago. For the three months ending July 31, 2015, Envivio said that its gross margins increased to 70.2%, compared with 58.3% in the second quarter of fiscal 2015.
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