The BroadVision Blog

BroadVision Receives Letter from NASDAQ

REDWOOD CITY, CA — April 7, 2016 — BroadVision, Inc. (the “Company”)
(NASDAQ: BVSN),
a leading provider of e-business and engagement management solutions, today announced that, on April 4, 2016, it received a written notice from the Listing Qualifications department of the Nasdaq Stock Market (“Nasdaq”) indicating that the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”) for continued listing because it had not yet filed its 10-K for the period ended December 31, 2015 (the “2015 10-K”).

As previously disclosed in the Company’s Notification of Late Filing on Form 12b-25, filed with the Securities and Exchange Commission on March 31, 2016, the Company has delayed the filing of its 2015 10-K pending completion of a review of information it had recently uncovered regarding potential irregularities relating to a cash account at one of its European subsidiaries. The Company and its accounting firm are in the process of collecting and reviewing this information and will then determine whether any changes need to be made to the Company’s results of operations.

The Nasdaq letter provides that the Company has until June 3, 2016 to submit a plan to regain compliance. The Company expects to complete its review process and file its 2015 10-K in advance of the due date for the compliance plan.  If the Company is unable to file its 2015 10-K by June 3, 2016, it intends to submit a compliance plan on or prior to that date. If Nasdaq accepts the Company’s plan, it can grant an exception of up to 180 calendar days from the filing’s due date, or until September 26, 2016, to regain compliance. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.

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

Except for statements of historical fact, statements in this release 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, including statements regarding the estimated timing for the filing of the Company’s 2015 10-K, the Company’s plans for regaining compliance with the Nasdaq Listing Rules and submitting a plan of compliance within the prescribed period if necessary, whether or not Nasdaq will accept the plan of compliance and the extension time, if any, granted by Nasdaq for the filing of the 2015 10-K. 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.

These statements are not guarantees of future performance and actual results could differ materially from BroadVision’s current expectations as a result of certain risk and uncertainties, including, without limitation: the Company’s, or its independent registered public accounting firm’s, inability to complete the work required to file its 2015 10-K in the timeframe that is anticipated or due to unanticipated changes being required in its reported operating results and the timing and outcome of any Nasdaq decision regarding any plan of compliance or extension, as well as other risks detailed in the Company’s filings with the Securities and Exchange Commission, including under the heading “Risk Factors” in the Company’s Quarterly Report on Form 10-Q  for the quarterly period ended September 30, 2015, filed with the Securities and Exchange Commission on November 16, 2015.

Experton Group Names BroadVision A Social Business Leader

Redwood City, Calif.,─ February 4, 2016 ─ BroadVision, Inc. (Nasdaq: BVSN), a leading provider of e-business and engagement management solutions, today announced that leading analyst firm Experton Group has named BroadVision a Leader in Social Enterprise Networking Suites as a part of its Social Business Vendor Benchmark 2016 – Germany*. BroadVision’s Clearvale, a cloud-based enterprise social networking solution, and its mobile collaboration and communication platform, Vmoso, help drive engagement and knowledge sharing throughout the enterprise between employees, partners, customers.

“The ability for today’s worker to access corporate knowledge, collaborate with co-workers and communicate outside the office walls is paramount for success,” said Dr. Pehong Chen, BroadVision’s CEO. “Increased productivity, time and cost savings are achieved when entire organizations are effectively communicating and collaborating – in real time.  Mobile has changed this dynamic. Knowledge workers need access to information and corporate knowledge whenever, wherever and on the device they choose.   Vmoso is the mobile-centric platform for companies who recognize the need for mobile collaboration and knowledge management.  Experton’s Group’s recognition validates our mission to provide best-in-class mobile engagement solutions and we appreciate their continued acknowledgement of BroadVision’s Vmoso and Clearvale products for their innovation.”

Experton evaluated 22 different vendors and positioned them in the Enterprise Networking Suites category based on the “Experton Market Insight” methodology developed by Experton Group. Evaluation criteria included integration with legacy applications, file or document sharing, search and filter technologies, project and task management and multiple deployment models. According to Experton Group, “The ‘leaders’ among the vendors have a highly attractive product and service offering and a very strong market and competitive position; they fulfill all requirements for successful market cultivation. They can be regarded as opinion leaders, providing strategic impulses to the market.”

To access Experton’s 2016 Social Business Vendor Benchmark please visit www.experton-group.com/research/studien/social-business-vendor-benchmark-2016/ueberblick.html

About Experton’s Social Business Vendor Benchmark 2016

This 2016 edition is Experton Group’s third “Social Business Vendor Benchmark” to help businesses to evaluate and select social business vendors to focus on a new age of business management, based on today’s modern organizational forms and apps. Experton’s “Social Business Vendor Benchmark” analyzes market-relevant social business software & service (SaaS) offerings and also suitable service offerings with a focus on consulting and integration service offerings.

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 unified business collaboration and engagement, and Clearvale for enterprise social networking— are available globally in the cloud via the Web and mobile applications. VisitBroadVision.com for more details. BroadVision and Clearvale and all their case-sensitive permutations are trademarks or registered trademarks of BroadVision, Inc. in the United States of America and other countries.

Media Contact: Ty Levine | 650-331-1000

*http://www.experton-group.com/research/studien/social-business-vendor-benchmark-2016/overview.html

BroadVision Announces Fourth Quarter 2015 Results

REDWOOD CITY, Calif., Feb. 03, 2016 — BroadVision, Inc. (NASDAQ:BVSN), a leading provider of e-business and engagement management solutions, today reported financial results for its fourth quarter ended December 31, 2015. Revenues for the fourth quarter were $2.7 million, compared with revenues of $2.1 million for the third quarter ended September 30, 2015 and $4.3 million for the comparable quarter of 2014.

License revenue for the fourth quarter of 2015 was $1.2 million, compared with $1.0 million for the prior quarter and $2.7 million for the comparable quarter of 2014. 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 2015, BroadVision posted net loss on a U.S. Generally Accepted Accounting Principles (“GAAP”) basis of $2.7 million, or $0.56 per basic and diluted share, as compared with GAAP net loss of $2.1 million, or $0.42 per basic and diluted share, for the third quarter of 2015 and GAAP net loss of $1.6 million, or $0.32 per basic and diluted share, for the comparable quarter of 2014.

Full-year 2015 revenues totaled $9.4 million, with GAAP net loss of $10.9 million, or $2.24 per basic and diluted share, compared to 2014 revenues of $13.6 million and GAAP net loss of $9.5 million, or $1.98 per basic and diluted share.

As of December 31, 2015 the Company had $29.7 million of cash and cash equivalents and short-term investments, compared to a combined balance of $32.2 million as of September 30, 2015 and $37.1 million as of December 31, 2014.

“In Q4, BroadVision broke new ground by formally releasing Vmoso and Vmoso WeChat Enterprise Edition in China,” said Dr. Pehong Chen, President and CEO of BroadVision. “We were also selected by CIO Review as one of the 20 most promising collaboration technology solution providers, which we believe reflects our position as a leader in mobile enterprise collaboration, engagement and knowledge management. Our ability to enhance the way companies use mobile to do business will keep us driven, innovative and focused in 2016 and beyond.”

Conference Call Information
BroadVision management will host a conference call today, Wednesday, February 3, 2016, at 2:00PM Pacific Standard Time (PST). The conference call may be accessed by dialing: 1-888-771-4371, with pin code 41578936. Callers outside North America should call +1-847-585-4405 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.

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 our ability to enhance customers’ businesses, 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 forwardlooking statements involve risk and uncertainties. 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. These statements are not guarantees of future performance and actual results could differ materially from BroadVision’s current expectations. Various factors and risks associated with BroadVision’s business are discussed in its most recent annual report on Form 10-K and in BroadVision’s quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. 

BROADVISION, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

December 31,December 31,
20152014
ASSETS(unaudited)
Current assets:
Cash, cash equivalents and short-term investments$ 29,703$ 37,079
Other current assets2,849 4,405
Total current assets 32,552 41,484
Other non-current assets 230 342
Total assets$ 32,782$ 41,826
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities$ 5,783$ 5,439
Other non-current liabilities 918 774
Total liabilities 6,701 6,213
Total stockholders’ equity 26,081 35,613
Total liabilities and stockholders’ equity$ 32,782$ 41,826

 

BROADVISION, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share data)
(unaudited)
 

Three Months EndedTwelve Months Ended
December 31,December 31,
2015201420152014
Revenues:
Software licenses$ 1,183$ 2,686$ 4,414$ 6,495
Services 1,494 1,620 5,028 7,090
Total revenues 2,677 4,306 9,442 13,585
Cost of revenues:
Cost of software revenues 31 34 152 149
Cost of services 1,145 1,005 3,341 4,406
Total cost of revenues1,176 1,039 3,493 4,555
Gross profit 1,501 3,267 5,949 9,030
Operating expenses:
Research and development 1,812 1,871 7,219 7,311
Sales and marketing 1,207 1,130 4,889 5,214
General and administrative 889 1,004 3,501 3,902
Total operating expenses 3,908 4,005 15,609 16,427
Operating loss (2,407) (738) (9,660) (7,397)
Other expense, net (331) (723) (1,177) (1,927)
Loss before provision for income taxes (2,738) (1,461) (10,837) (9,324)
Provision for income taxes (10) (95) (29) (157)
Net loss$ (2,748)$ (1,556)$ (10,866)$ (9,481)
Earnings per share, basic and diluted:
Basic and diluted loss per share$ (0.56)$ (0.32)$ (2.24)$ (1.98)
Shares used in computing:
Weighted average shares-basic and diluted 4,882 4,822 4,857 4,799

BroadVision Sets Date to Announce Fourth Quarter Results

REDWOOD CITY, Calif., Jan. 20, 2016 (GLOBE NEWSWIRE) — BroadVision, Inc. (NASDAQ:BVSN), a
leading provider of e-business and engagement management solutions, today announced that it will
release its fourth quarter 2015 financial results on Wednesday, February 3 at approximately 1:30PM Pacific Standard Time (PST).

In addition, the company will host an Investor/Analyst conference call at 2:00PM PST. Dial-in information is: 1 (888) 771-4371, with pin code 41578936. Callers outside North America should call +1 (847) 585-4405 to be connected. These numbers can be accessed 15 minutes before the call begins, as well as during the call. Company executives will review financial results and discuss the state of BroadVision’s business during the call.

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 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 and all their case-sensitive permutations are trademarks or registered
trademarks of BroadVision, Inc. in the United States of America and other countries.

BroadVision Contact:
Peter Chu
Investor Relations
(650) 295-0716 x7177
Ir1@broadvision.com

BroadVision Launches Their Vmoso Developer Network

REDWOOD CITY, Calif., January 19, 2016— BroadVision, Inc. (Nasdaq:BVSN), a leading provider of business collaboration and engagement solutions, today introduced their Vmoso Developer Network [VDN]. The VDN allows developers to easily leverage Vmoso’s open APIs to create rich interfaces, plugins and extensions to the Vmoso mobile communication and collaboration application. It will provide BroadVision’s channel partners, integrators, software developers and end users with open APIs, sample codes, testing environments and access to training and documentation. Partners to software developers will be more equipped to create applications that leverage the Vmoso communication and collaboration platform. Additionally, more users will now benefit being able to interact with their applications regardless of where they are or what device they are using in one universal inbox.

The VDN is part of BroadVision’s initiative to fulfill the power of mobile communication and collaboration by making application integration more accessible to its customers and partners. Using these newly provided tools partners can now create both custom and packaged applications for customers.

“With access to a dedicated and secure community space within Vmoso, participants can post questions, access the Vmoso Developer Kits and client libraries, as well as directly collaborate with each other,” said Ian Heggs, GM BroadVision Global Services, “Providing an opportunity for the Vmoso community to build apps to add value to the current Vmoso solution set offered to customers.”

Vmoso is a cloud application for conducting virtual enterprise communication, mobile workgroup collaboration, and social business engagement. It unifies five workplace activities in one platform: email, instant messaging, content sharing, workflow, and social networking. It empowers users and their extended organizations to communicate and collaborate whenever, wherever and on whatever device they choose; allowing for greater productivity in less time and at much lower cost.

For more information please visit Vmoso.com/VDN

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 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.

Media Contact:

Ty Levine

650-331-1000

BroadVision Launches Vmoso in China

BEIJING and REDWOOD CITY, Calif., Jan. 06, 2016 — BroadVision, Inc. (Nasdaq:BVSN), a leading provider of business collaboration and engagement solutions, today announced the general availability of Vmoso for the China market.  With today’s businesses being virtual,mobile, and social, Vmoso is optimized to help global enterprises, large or small, save time/cost, achieve higher efficiency, and attain greater business success.

Vmoso unifies email, instant messaging, content sharing, workflow, and social networking into one integrated environment, forming a single source of truth across a detailed corporate knowledge web, to significantly enhance both internal collaboration and external engagement.  It supports hybrid cloud deployment, offering both public/private hosting options to ensure the highest level of data security and information privacy.  As an open system, Vmoso features more than 400 RESTful APIs designed for two-way integration with any existing or new enterprise backend, portal, or mobile applications.

Vmoso client applications are available universally on all HTML-5 web browsers for PC, Mac, and tablets, as well as natively on iOS and Android mobile devices.  In addition, BroadVision also announced today the general release of Vmoso WeChat Enterprise Edition, which fully integrates with WeChat, the world’s most popular consumer chat platform, boasting more than 800 million registered users globally.  Due to the popularity of BOYD (bring-your-own-device), organizations everywhere are now confronted with numerous security and compliance risks brought about by its companion BYOA (bring-your-own-app) phenomenon. Nowhere is it more wide-spread and serious than in China where WeChat is being used for business on a self-initiated basis.

With Vmoso’s WeChat Enterprise Edition, companies can leverage WeChat’s popularity with employees and customers, all while seamlessly diverting business communication, collaboration, and engagement into Vmoso, behind its own firewall, and on its own private cloud.  From the user’s perspective, the familiar experience remains, except all business related activities are now consolidated via a single “WeChat Enterprise Account” corresponding to each organization, whereupon Vmoso provides a more secure and robust environment.

“Most chat tools today are designed for ‘chitchatting’, with low expectation for information security or content longevity — any ‘big data’ is relegated to ‘big garbage’ at best,” commented Dr. Pehong Chen, CEO of BroadVision. “But with business mobility taking center stage, a new workstyle will emerge as the mainstream for business.  Increased data in the form of user-generated content will pass through and reside in mobile applications. Now, ‘big data’ must become the source for ‘big knowledge’.” Dr. Chen continued, “Unlike common chat tools, Vmoso is optimized to address this shift.”

“With nearly 40,000 employees and hundreds of superstores across the country, one of our top corporate priorities has always focused on improving internal communication/collaboration, cross-store knowledge sharing, and on enhancing one-to-one customer engagement/feedback,” said Mr. Zhang Yihua, CIO of WuMart Stores (SEHK:1025), one of China’s leading supermarket chains.  “While WeChat has offered our users a great deal of convenience in achieving those goals, it remains very high risk for us when all data resides only in everyone’s handset and not with the company and when we have no way of regulating who gets invited into which chat room.  Consequently, we fully endorse Vmoso WeChat Enterprise Edition, totally believe in its capability, and wish for its resounding success in China market.”

Ms. Xu Jie, SVP Enterprise Solutions, at China Software & Technology Services Inc. (SHSE:600536), one of the largest technology companies in China, agrees.  She said, “The state-owned enterprises (SOEs) we serve all share a common and pressing need for adopting a new mobile collaboration platform.  However, their data security and information privacy requirements far exceed that of any non-SOE organizations.  As a result, consumer chat tools like WeChat are banned for business use in any SOEs.”  Despite such official ban, Ms. Xu noted that, in private and for convenience reasons, essentially all employees continue to use WeChat for business.  All SOEs can do is to adopt an ambivalent “don’t ask; don’t tell” policy as a compromise.  She insisted, “This is why we are so excited about Vmoso’s potential in China, especially thanks to enhanced security via its private cloud deployment.  We are very confident that we can bring Vmoso to our SOE clients to accelerate their mobile enterprise transformation.”

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 unified business collaboration and engagement, and Clearvale for enterprise social networking—are available globally in the cloud via the Web and mobile applications.  For more information or to download Vmoso visit www.Vmoso.com.

Media Contact:
Ty Levine
650-331-1000

BroadVision Selected by CIO Review as One of the 20 Most Promising Collaboration Technology Solution Providers

REDWOOD CITY, Calif., Dec. 16, 2015 — BroadVision, Inc. (Nasdaq:BVSN), a leading provider of business collaboration and engagement solutions, today announced that CIO Review has included BroadVision in its 20 Most Promising Collaboration Technology Solution Providers. The selection is based on BroadVision’s intuitive enterprise solutions that make communication and collaboration services in the workplace faster, easier and more engaging.

“Over the past 25 years, thanks to our amazing clients and partners, BroadVision has been able to lead the market in providing world-class collaboration tools and services,” said Pehong Chen, President and CEO of BroadVision. “BroadVision is extremely honored to be recognized by CIO Review’s collection of industry experts and influencers.”

CIO Review chooses their annual list of award recipients by a select group of industry experts and members of their editorial board to recognize and promote technology influencers. Through consultations and proposals with business leaders, CIO Review’s editors make their selections on a variety of areas important to tech business.

View the CIO Review article by clicking this link.

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 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.

About Vmoso

Vmoso is a cloud application for conducting virtual enterprise communication, mobile workgroup collaboration, and social business engagement. It unifies five workplace activities in one platform: email, instant messaging, content sharing, workflow, and social networking. It empowers users and their extended organizations to communicate and collaborate whenever, wherever and on whatever device they choose; allowing for greater productivity in less time and at much lower cost.

Media Contact:
Ty Levine
650-331-1000