Envivio Revenues Rise in Q2

Looking to turn financial corner as losses shrink
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Noting that it made “significant progress toward profitability,” multiscreen video specialist Envivio said Q2 revenues jumped 23% as it managed to trim losses.

Total Q2 revenues were $11.7 million, up from $9.5 million in the year-ago quarter. That was paired with a GAAP net loss of $600,000 (2 cents per share), narrowed from a year-ago loss of $4.1 million (15 cents per share).

Speaking on the earnings call Thursday, Julien Signès, Envivio’s president and CEO, said the company has also seen a rise in deferred revenue ($8 million at the end of Q2, versus $6.3 million at the end of Q1), and that Q2 performance was driven by new “large tier 1 wins” along with customer expansion orders.

For the full story go to Multichannel.com.

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