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Revenue stays the same as Q1 with $1.1m
BroadVision, Inc. (NASDAQ:BVSN), a leading provider of e-business and engagement management solutions, today reported financial results for its second quarter ended June 30, 2015. Revenues for the second quarter were $2.2 million, compared with revenues of $2.5 million for the first quarter ended March 31, 2015 and $3.2 million for the comparable quarter of 2014.
License revenue for the second quarter of 2015 was $1.1 million, compared with $1.1 million for the prior quarter and $1.3 million for the comparable quarter of 2014. The majority of the second quarter license and subscription revenue was generated from the Company’s BroadVision Business Agility Suite, Commerce Agility Suite, QuickSilver, and Clearvale solutions.
Revenue during the quarter was generated from sales to both new and existing customers.
In the second quarter of 2015, BroadVision posted net loss on a U.S. Generally Accepted Accounting Principles basis of $2.5 million, or $0.51 per basic and diluted share, as compared with GAAP net loss of $3.6 million, or $0.74 per basic and diluted share, for the first quarter of 2015 and GAAP net loss of $2.3 million, or $0.49 per basic and diluted share, for the comparable quarter of 2014.
As of June 30, 2015 the Company had $35.3 million of cash and cash equivalents and short-term investments, compared to a combined balance of $36.3 million as of March 31, 2015 and $43.9 million as of June 30, 2014.
“In Q2, we expanded the worldwide user base for Vmoso to over 100,000 and established partnerships in several key markets to extend our global presence,” said Dr. Pehong Chen, President and CEO of BroadVision. “Based on the positive feedback and validation we continue to receive from customers and users, we believe Vmoso as a mobile-centric unified business communication, collaboration, and engagement platform, delivered through a secure private cloud, will generate significant value for enterprises across numerous target industries, while enabling us to achieve our business objectives.”
