REDWOOD CITY, CA–February 5, 2015- BroadVision, Inc. (Nasdaq: BVSN), a leading provider of business collaboration and engagement solutions, today reported financial results for its fourth quarter ended December 31, 2014. Revenues for the fourth quarter were $4.3 million, compared with revenues of $3.1 million for the third quarter ended September 30, 2014 and $3.7 million for the comparable quarter of 2013.
License revenue for the fourth quarter of 2014 was $2.7 million, compared with $1.3 million for the prior quarter and $1.4 million for the comparable quarter of 2013. The majority of the fourth 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 fourth quarter of 2014, BroadVision posted net loss on a U.S. Generally Accepted Accounting Principles (“GAAP”) basis of $1.6 million, or $0.32 per basic and diluted share, as compared with GAAP net loss of $3.3 million, or $0.68 per basic and diluted share, for the third quarter of 2014 and GAAP net loss of $1.3 million, or $0.28 per basic and diluted share, for the comparable quarter of 2013.
Full-year 2014 revenues totaled $13.6 million, with GAAP net loss of $9.5 million, or $1.98
per basic and diluted share, compared to 2013 revenues of $15.6 million and GAAP net loss of $5.4 million, or $1.15 per basic and diluted share.
As of December 31, 2014 the Company had $37.1 million of cash and cash equivalents and short-term investments, compared to a combined balance of $39.6 million as of September 30, 2014 and $46.4 million as of December 31, 2013.
“With the start of 2015 we are pleased to announce the wide availability of Vmoso after an extended period of testing with partners and prospects,” said Dr. Pehong Chen, President and CEO of BroadVision. “Vmoso is a strategic initiative which leverages BroadVision’s core competencies in building secure, scalable and open architecture enterprise solutions to meet the market demand for mobile and agile engagement of employees, partners and customers.”
Conference Call Information
BroadVision management will host a conference call today, Thursday, February 5, 2015, at 2:00PM Pacific Standard Time (PST). The conference call may be accessed by dialing: 1-888-424-8151, with pin code 5569711#. Callers outside North America should call +1-847-585-4422 to be connected. These numbers can be accessed 15 minutes before the call begins, as well as during the call. A web replay will also be available following the call on the Company’s website.
Driving innovation since 1993, BroadVision (NASDAQ: BVSN) provides e-business solutions that enable the enterprise and its employees, partners, and customers to stay actively engaged, socially connected, and universally organized to achieve greater business results. BroadVision® solutions—including Vmoso for unified business collaboration and engagement, and Clearvale for enterprise social networking—are available globally in the cloud via the Web and mobile applications. Visit BroadVision.com for more details.
BroadVision and Clearvale are trademarks or registered trademarks of BroadVision, Inc. in the United States and other countries.