Multiscreen video company Envivio posted second quarter revenues of $11.5 million, about the same it posted in the year-ago quarter, and an increase from the $8.4 million in posted in the first quarter.
The company also swung to a GAAP net loss of $4.1 million (15 cents per share), widened from a loss of $2.5 million (9 cents per share) in the year-ago period.
Company CEO Julien Signes said the sequential growth validated its differentiated product strategy and that its business model is continuing to gain traction in Envivio’s target markets.
Among recent moves, Envivio hopes to generate growth from Nuage, a new virtualized, cloud-based video platform that’s designed to help the company’s partners rapidly deploy multiscreen services, and complement Envivio’s on-premise capabilities.
On Wednesday’s earnings call, Signes said Envivio, which counts Comcast and Time Warner Cable as customers, notched a win with a tier-1 operator in Latin America, and that it secured a win for Muse, its software-based transcoding product, with a tier-1 U.S. operator, with trials slated for this year ahead of anticipated deployments in 2015. He the company is also seeing “strong momentum for adoption” of the company’s 4K/Ultra HD and HEVC compression products.
Signes said the company is prepared to move ahead amid the coming loss of Ira Goldfarb, Envivio’s SVP of global sales and services, who is leaving the company later this month.
“We have invested in building our worldwide sales organization and we feel that we have very solid leadership and field teams in each of our regions and markets,” he said. “With my oversight, we are confident in the ability of our sales organization to continue to grow and drive new business opportunities as we evaluate the evolution of our sales organization.”
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