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FALC — FalconStor Software News Story

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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


Reuters Recommended Reads

  • Aug 3 - Backblaze Q2 revenue beats estimates; shares of the company were up about 13% in extended trading

  • Aug 5 - Kyndryl misses quarterly estimates on weak sales and charges linked to job cuts

  • Aug 3 - Cybersecurity firm Horizon3 crosses $2 billion valuation in new funding round


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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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