FalconStor Q2 revenue rises, net loss narrows on hybrid cloud offerings, operational streamlining, respectively
FalconStor Q2 revenue rises, net loss narrows on hybrid cloud offerings, operational streamlining, respectively
Overview
Data protection software firm's Q2 revenue rose 27% yr/yr
Q2 net loss narrowed to $0.3 mln from $0.5 mln a year earlier
Company launched Cloud Clean Room offering with new data security technology
Outlook
Company did not provide specific guidance for future quarters or the full year
Result Drivers
HYBRID CLOUD GROWTH - Co said hybrid cloud ARR run-rate increased 91% yr/yr
NEW PRODUCT LAUNCH - Co launched Cloud Clean Room offering powered by new data security technology
OPERATIONAL STREAMLINING - Co said streamlining operations and aligning resources with growth initiatives contributed to profitability improvements
Company press release: ID:nBw8kVNNfa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $2.60 mln |
|
Q2 Net Loss |
| $300,000 |
|
Q2 Operating Expenses |
| $2.40 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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