All posts by BroadVision

BroadVision Announces Third Quarter 2018 Results

REDWOOD CITY, Calif., Nov. 13, 2018 (GLOBE NEWSWIRE) — BroadVision, Inc. (NASDAQ:BVSN), a leading provider of e-business and engagement management solutions, today reported financial results for its third quarter ended September 30, 2018. Revenues for the third quarter were $1.0 million, compared with revenues of $1.2 million for the second quarter ended June 30, 2018 and $1.5 million for the comparable quarter of 2017.

License revenue for the third quarter of 2018 was $0.5 million, compared with revenues of $0.6 million for the second quarter ended June 30, 2018 and $0.8 million for the comparable quarter of 2017. The majority of the third quarter license 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 third quarter of 2018, BroadVision posted net loss on a U.S. Generally Accepted Accounting Principles (“GAAP”) basis of $1.7 million, or $0.34 per basic and diluted share, as compared with GAAP net loss of $2.2 million, or $0.43 per basic and diluted share, for the second quarter of 2018 and GAAP net loss of $2.5 million, or $0.50 per basic and diluted share, for the comparable quarter of 2017.

Total revenues for the nine months ended September 30, 2018 were $3.8 million, with a GAAP net loss of $5.4 million, or $1.07 per basic and diluted share, compared to total revenues of $4.9 million and a GAAP net loss of $7.5 million, or $1.50 per basic and diluted share, for the nine months ended September 30, 2017.

As of September 30, 2018, the Company had $4.3 million of cash and cash equivalents and short-term investments, compared to a combined balance of $9.6 million as of December 31, 2017 and $12.3 million as of September 30, 2017.

“Data privacy continues to rise in importance for businesses and consumers alike. Whether you need a secure, private environment for business collaboration, or a means of controlling the way your own personal data is used with other organizations, the Vmoso platform is designed to provide auditable, consent-based communication and data sharing,” said Dr. Pehong Chen, President, CEO and Interim CFO of BroadVision.

About BroadVision 
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 virtual, mobile, and social business collaboration, and Clearvale for enterprise social networking—are available globally in the cloud via the Web and mobile applications.  Visit www.BroadVision.com for more detals.

BroadVision, Business Agility Suite, Commerce Agility Suite, QuickSilver, and Clearvale are trademarks or registered trademarks of BroadVision, Inc. in the United States and other countries. All other company names, product names, and marks are the property of their respective owners.

Information Concerning Forward-Looking Statements
Information in this release that involves expectations, beliefs, hopes, plans, intentions or strategies regarding the future, including statements regarding the rise in importance of data privacy and Vmoso’s capabilities are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include without limitation uncertainty regarding market acceptance of BroadVision’s products and services, BroadVision’s ability to sell Vmoso to its existing customers and new customers, BroadVision’s ability to provide reliable, scalable and cost-efficient Cloud-based offerings, BroadVision’s ability to effectively compete in its intensely competitive market and respond effectively to rapidly changing technology, evolving industry standards and changing customer needs, requirements or preferences, and the other risks set forth in BroadVision’s most recent quarterly report on Form 10-Q, and subsequent reports filed with the Securities and Exchange Commission. All forward-looking statements included in this release are based upon information available to BroadVision as of the date of this release, and BroadVision assumes no obligation to update or correct any such forward-looking statements except as required by law. These statements are not guarantees of future performance and actual results could differ materially from BroadVision’s current expectations.

View full release:

BroadVision Announces Proposed $3 Million Private Placement by Vmoso, Inc. Subsidiary

REDWOOD CITY, Calif., Oct. 10, 2018 (GLOBE NEWSWIRE) — BroadVision, Inc. (Nasdaq: BVSN), a leading provider of e-business and engagement management solutions, today announced that its wholly owned subsidiary, Vmoso, Inc., intends to raise $3 million from BroadVision stockholders who are accredited investors in a private placement of Class A Common Stock of Vmoso, Inc. representing approximately 80 percent of Vmoso, Inc.’s outstanding shares. Following the financing, BroadVision will continue to hold shares of Preferred Stock of Vmoso, Inc. representing approximately 20 percent of Vmoso, Inc.’s outstanding shares and will provide substantially all of the personnel, facilities and equipment required for the activities of Vmoso, Inc. under a shared services agreement.

Vmoso, Inc. holds all of the intellectual property and other assets related to BroadVision’s Clearvale and Vmoso platforms, including the current Clearvale and Vmoso products and the My Vmoso Network (MVN) development project. Proceeds of the private placement will be used to continue the commercialization of the Clearvale and Vmoso products and the development of MVN, which is a personal digital hub that will utilize the Vmoso platform in conjunction with blockchain technology to act as a bank for consumers’ personal data, as well as provide secure, personalized, persistent, symmetrical engagement channels between consumers and the businesses with which they have relationships. BroadVision first announced the MVN development project in April 2018. Additional information about the Vmoso platform and the MVN development project is available at broadvision.com/myvmoso.

Dr. Pehong Chen, BroadVision’s founder, president and chief executive officer, has advised Vmoso, Inc. that he is prepared to invest up to $3 million in the private placement.

The proposed private placement is open only to BroadVision stockholders as of September 30, 2018 who are accredited investors as defined in Rule 501(a) of the Securities and Exchange Commission. Stockholders who desire additional information, including a description of certain risk factors, for purposes of considering participation in the proposed private placement may register their interest at broadvision.com/vmoso-invest, where they will receive instructions on how to verify their ownership of BroadVision stock and obtain third-party verification of their accredited investor status. Indications of interest will be accepted until October 24, 2018.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction. Vmoso reserves the right to accept or reject any private placement subscriptions it may receive in its sole discretion.

Information Concerning Forward-Looking Statements

Information in this press release that involves expectations, beliefs, hopes, plans, intentions or strategies regarding the future, including statements regarding the anticipated private placement by Vmoso, Inc., the anticipated percentage ownership of BroadVision and new investors in Vmoso, Inc. following the private placement and the anticipated use of the net proceeds of the private placement are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, without limitation, market and other conditions and the other risks set forth in BroadVision’s most recent quarterly report on Form 10-Q, and subsequent reports filed with the Securities and Exchange Commission. All forward-looking statements included in this release are based upon information available to BroadVision as of the date of this release, and BroadVision assumes no obligation to update or correct any such forward-looking statements except as required by law. These statements are not guarantees of future performance and actual results could differ materially from BroadVision’s current expectations.

BroadVision Contact:                                  
Pehong Chen
Investor Relations
(650) 331-1000           
Ir1@broadvision.com

MyVmoso In Action

See three examples of how MyVmoso enables individuals to build trusted relationships with the organisations they interact with online.

  • – Application for a credit card
  • – Medical prescription and referral
  • – Participation in a pharmaceutical study

Users of MyVmoso build up a network of trusted relationships, starting either from self-registration, or enrolment by one of the organizations they do business with.

The new products described in this video, MyVmoso Network and MyVmoso Token, are in development and not currently operational or available to users in any form. These products will not be made available to users until development and testing are completed and the products are determined by BroadVision to be ready for commercial launch. It is expected to start a pilot by the end of 2018 and enter production in the first half of 2019.

BroadVision Announces Third Quarter 2017 Results

REDWOOD CITY, Calif., Nov. 08, 2017 (GLOBE NEWSWIRE) — BroadVision, Inc. (NASDAQ:BVSN), a leading provider of e-business and engagement management solutions, today reported financial results for its third quarter ended September 30, 2017. Revenues for the third quarter were $1.5 million, compared with revenues of $1.6 million for the second quarter ended June 30, 2017 and $2.0 million for the comparable quarter of 2016.

License revenue for the third quarter of 2017 was $0.8 million, compared with revenues of $0.9 million for the second quarter ended June 30, 2017 and $1.1 million for the comparable quarter of 2016. The majority of the third quarter license 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 third quarter of 2017, BroadVision posted net loss on a U.S. Generally Accepted Accounting Principles (“GAAP”) basis of $2.5 million, or $0.50 per basic and diluted share, as compared with GAAP net loss of $2.4 million, or $0.48 per basic and diluted share, for the second quarter of 2017 and GAAP net loss of $2.4 million, or $0.50 per basic and diluted share, for the comparable quarter of 2016.

As of September 30, 2017, the Company had $12.3 million of cash and cash equivalents and short-term investments, compared to a combined balance of $15.6 million as of June 30, 2017 and $21.8 million as of September 30, 2016.

“More and more organizations are recognizing that in the digital age, their data and their collective knowledge are two of their prime assets”, said Dr Pehong Chen, President and CEO of BroadVision. “Yet many organizations do not have these assets under control. Far too often, knowledge is lost in departmental silos or inappropriate consumer-focused apps ill-suited for business use. As a hub for digital enterprise transformation, Vmoso connects all these different sources of knowledge so employees can get the information they need, when they need it”.

About BroadVision
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 virtual, mobile, and social business collaboration, and Clearvale for enterprise social networking—are available globally in the cloud via the Web and mobile applications. Visit www.BroadVision.com for more details.

BroadVision, Business Agility Suite, Commerce Agility Suite, QuickSilver, and Clearvale are trademarks or registered trademarks of BroadVision, Inc. in the United States and other countries. All other company names, product names, and marks are the property of their respective owners.

Information Concerning Forward-Looking Statements
Information in this release that involves expectations, beliefs, hopes, plans, intentions or strategies regarding the future, including statements regarding BroadVision’s ability to enhance customers’ businesses, market acceptance of Vmoso and the ability of Vmoso to transform business operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include without limitation uncertainty regarding market acceptance of BroadVision’s products and services, BroadVision’s ability to sell Vmoso to its existing customers and new customers, BroadVision’s ability to provide reliable, scalable and cost-efficient Cloud-based offerings, BroadVision’s ability to effectively compete in its intensely competitive market and respond effectively to rapidly changing technology, evolving industry standards and changing customer needs, requirements or preferences, and the other risks set forth in BroadVision’s most recent quarterly report on Form 10-Q, and subsequent reports filed with the Securities and Exchange Commission. All forward-looking statements included in this release are based upon information available to BroadVision as of the date of this release, and BroadVision assumes no obligation to update or correct any such forward-looking statements except as required by law. These statements are not guarantees of future performance and actual results could differ materially from BroadVision’s current expectations.

BroadVision Announces Third Quarter 2017 Results

Galaxy Sports

Galaxy Sports are planning the launch of a new range of “smart” running shoes that take advantage of emerging technologies such as Internet of Things sensors and artificial intelligence. At the centre of this, Galaxy has chosen Vmoso to organise communication and knowledge sharing between Galaxy and its suppliers, within Galaxy, and between Galaxy and its customers.

View Transcript
Galaxy Sports is a manufacturer of sportswear, with running shoes representing its largest market. Galaxy’s product management team are planning the launch of a new range of “smart” running shoes that take advantage of emerging technologies such as Internet of Things sensors and artificial intelligence.

At the centre of this, Galaxy has chosen Vmoso to organise communication and knowledge sharing between Galaxy and its suppliers, within Galaxy, and between Galaxy and its customers.

A selected group of Galaxy customers have been selected to test a prototype of the new running shoe. To support the trial, a community for the early adopters has been created on Vmoso.

Here, Galaxy product managers can interact with the trial participants, analyse data received from the shoes’ sensors, and discuss appropriate actions.

Galaxy have also engaged a professional physiotherapist, Marion, to participate in the trial and engage with the early adopters.

Marion is also involved in the other initiative linked to the new product launch, Galaxy’s “Smart Physio”. This is an artificial intelligence powered agent which delivers personalized recommendations to each member of the trial via private Vmoso channels, based on the data collected from the sensors in their shoes, and aggregated data from the wider trial community. Marion uses her domain expertise to help train the Smart Physio’s recommendations.

Vmoso also hosts all the communication and collaboration between Galaxy and Sportex, the main supplier of the shoes’ materials. This includes both freeform, unstructured communication for general discussion, and more structured business processes for tracking and accountability of formal change requests.

Todd is a loyal Galaxy customer, so was invited to become a member of the early adopter community. He’s been using the prototype shoes for his daily run every day this week, and his feet are suffering from blisters in a way they never did with his previous Galaxy shoes.
He reports this problem to the community, and finds that he’s not the only one suffering in this way.

Nancy in the Galaxy product management team is obviously concerned by these reports. But thanks to the tracking devices in the shoes, she’s able to get a much clearer picture of what’s going on.
She has been receiving daily reports in Vmoso of aggregated data from the trial users, but she can now dig into the detailed data for the runners who’ve reported the problem.

It quickly becomes apparent that the sensors are reporting a higher than expected temperature inside the shoe for all the runners suffering from blisters.

Sportex have actually provided two different versions of the shoe made with different textiles, and Nancy sees that all the shoes exhibiting higher temperatures are using textile variant A.

Nancy gets in contact with her Sportex contact, Howard, about this. Howard suggests that Nancy makes a formal request to stop manufacturing the variant A shoes, and switch to variant B.

Nancy initiates a change request process in Vmoso to do this. Before reaching Sportex, this needs to be approved by Nancy’s manager, Amber.

But before Amber agrees to this, she asks Nancy to find out more about how the runners using variant B are getting on.

The data looks good, but Nancy wants to get feedback from the runners themselves.

The replies she gets are surprising – several of the runners report that their shoes are already showing significant signs of wear. It looks like variant B doesn’t suffer from the overheating problem, but is a lot less resilient than variant A.

Nancy recommends to Amber that she declines the previous request. Instead, she initiates a new process to request Sportex work to address the overheating problem in variant A.

A couple of weeks later, Sportex and Galaxy have an updated prototype for the runners to try. Todd has been using the new shoe for a couple of days and has suffered no recurrence of the blisters.
Nancy is keeping a close watch on the sensor data and sees that the overheating problem does appear to have been resolved.

The more Todd uses the shoes, the more data is collected from the sensors, and Galaxy’s Smart Physio is able to start making recommendations.

Marion has been training the Smart Physio to recognise patterns relating to running style. She notes that some of the group of early adopters have a running style where the heel of the leading foot hits the ground first, combined with a wide stride pattern. This can lead to shin splits and heel damage, so Marion trains the Smart Physio to recognise this, and the recommended corrective action.

Automated analysis of the daily data from Todd’s shoes shows that he’s guilty of this style of running, even though he’s never associated it with some of the pain he feels after running. The Smart Physio makes recommendations, and shows Todd a video of how to correct the running style.

That makes sense to Todd, but he worries that when he’s out running, it would be really easy for him to slip back into old habits. So he asks the Smart Physio to warn him if he’s doing it. As Todd runs, the Smart Physio makes an audible notification when he slips back into his old running style.

As the end of the run, Todd asks how he did – the Smart Physio is able to show how Todd started well, but as he tired, the old pattern came back. It suggests that Todd considers shorter runs until he’s adapted his running style, and offers to recommend a personalised training pattern for Todd over the next week.

With Vmoso at the centre of Galaxy’s communication and collaboration, the launch of the new range of shoes is a huge success.

Bringing together product managers, suppliers, customers, data from smart sensors and artificial intelligence-powered agents around one digital transformation hub means that product development issues are reported, analyzed and acted upon rapidly, increasing product quality and reducing the time to market.

Engaging with customers both person-to-person and via AI creates a compelling customer experience, leading to greater brand loyalty and repeat sales.