Annual losses increase but Envivio ends fiscal 2015 on high
DetailsEditor | 20 March 2015
With a marked sequential increase in revenues and quarterly, if not yearly, losses trimmed, fiscal 2015 can indeed be considered as ending on a high note for Envivio.
For the fourth quarter of the year ended 31 January 2015, the software-based multiscreen video processing and delivery solutions firm posted revenue of $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 the total fiscal year 2015 was $41.6 million, compared with $43.2 million in fiscal 2014.
envivio nrj hitsGAAP net loss for the fourth quarter of the fiscal year was $1.6 million, compared with a net loss of $5.4 million in the third quarter of fiscal 2015 and net loss of $2.0 million in the fourth quarter of fiscal 2014. GAAP net loss for fiscal 2015 was $15.6 million, compared with net loss of $12.2 million a year earlier.
Again showing how much the fourth quarter bolstered the company's results, Q3 non-GAAP net loss was $0.5 million, compared with a net loss of $4.1 million in the third quarter of fiscal 2015 and net loss of $1.4 million 12 months previously.
GAAP and non-GAAP results for the fourth quarter of fiscal 2015 included a one-time charge of $0.7 million related to restructuring expenses. "We are encouraged by our results, and by the positive business environment as we head into fiscal 2016," commented Julien Signès, founder and CEO of Envivio.
"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 ... 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. 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."