Tag: 2016

BroadVision Announces First Quarter 2016 Results

REDWOOD CITY, CA — May 4, 2016 — BroadVision, Inc. (NASDAQ: BVSN), a leading provider of e-business and engagement management solutions, today reported financial results for its first quarter ended March 31, 2016. Revenues for the first quarter were $2.0 million, compared with revenues of $2.7 million for the fourth quarter ended December 31, 2015 and $2.5 million for the comparable quarter of 2015.

License revenue for the first quarter of 2016 was $1.0 million, compared with $1.2 million for the prior quarter and $1.1 million for the comparable quarter of 2015. The majority of the first 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 first quarter of 2016, BroadVision posted net loss on a U.S. Generally Accepted Accounting Principles (“GAAP”) basis of $2.1 million, or $0.42 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 fourth quarter of 2015 and GAAP net loss of $3.6 million, or $0.74 per basic and diluted share, for the comparable quarter of 2015.

As of March 31, 2016, the Company had $27.3 million of cash and cash equivalents and short-term investments, compared to a combined balance of $29.1 million as of December 31, 2015 and $36.3 million as of March 31, 2015.

“In Q1, we continued to expand our Vmoso partnerships globally and we now have hosting and reseller partnerships in our four main regions of NASA, EMEA, Asia-Pacific and Japan,” said Dr. Pehong Chen, President, and CEO of BroadVision. “Our partners play a critical role in driving awareness and enterprise adoption for Vmoso. They are an important voice in promoting the value of Vmoso as a mobile-centric, unified business communication and collaboration platform that takes fragmented information from immediate use and creates valuable long-term corporate knowledge.”

Conference Call Information
BroadVision management will host a conference call today, Wednesday, May 4, 2016, at 2:00PM Pacific Daylight Time (PDT). The conference call may be accessed by dialing: 1-888-771-4371, with pin code 42398724. 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. Afterwards, an audio recording of the call will also be available on the Company’s website at www.BroadVision.com.

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, the ability of Vmoso to create valuable long-term corporate knowledge and the ability of BroadVision’s partners to drive awareness and enterprise adoption for Vmoso, 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 annual report on Form 10-K, as amended, 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, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

March 31,December 31,
20162015
ASSETS(unaudited)
Current assets:
Cash, cash equivalents and short-term investments$ 27,285$ 29,131
Other current assets2,190 2,849
Total current assets 29,47531,980
Other non-current assets222 230
Total assets$29,697$ 32,210
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities$ 5,295$ 5,783
Other non-current liabilities838 918
Total liabilities6,133 6,701
Total stockholders’ equity23,564 25,509
Total liabilities and stockholders’ equity$ 29,697$ 32,210

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

Three Months Ended
March 31,
20162015
Revenues:
Software licenses$ 1,019$ 1,087
Services 990 1,409
Total revenues 2,0092,496
Cost of revenues:
Cost of software revenues 38 45
Cost of services 772 717
Total cost of revenues 810 762
Gross profit 1,199 1,734
Operating expenses:
Research and development 1,743 1,858
Sales and marketing 1,151 1,140
General and administrative 985 888
Total operating expenses3,879 3,886
Operating loss (2,680) (2,152)
Other Income (expense), net 656 (1,388)
Loss before provision for income taxes (2,024) (3,540)
Provision for income taxes (27) (15)
Net loss$ (2,051)$ (3,555)
Earnings per share, basic and diluted:
Basic and diluted loss per share$ (0.42)$ (0.74)
Shares used in computing:
Weighted average shares-basic and diluted 4,896 4,833

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

BroadVision Sets Date to Announce First Quarter Results

Redwood City, CA – April 21, 2016 – BroadVision, Inc. (NASDAQ: BVSN), a leading provider of e-business and engagement management solutions, today announced that it will release its first quarter 2016 financial results on Wednesday, May 4 at approximately 1:30PM Pacific Daylight Time (PDT).

In addition, the company will host an Investor/Analyst conference call at 2:00PM PDT. Dial-in information is: 1 (888) 771-4371 with pin code 42398724 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 all its case-sensitive permutations is a trademark or registered trademark 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 Regains NASDAQ Listing Compliance

REDWOOD CITY, Calif., April 15, 2016 BroadVision, Inc. (Nasdaq:BVSN), a leading provider of business collaboration and engagement solutions, today announced it had received notification from the Nasdaq Stock Market that the Company is now in compliance with Nasdaq Listing Rule 5250(c)(1), based on the April 14, 2016 filing of BroadVision’s Form 10-K for the period ended December 31, 2015. Nasdaq indicated the matter is now closed.

On April 4, 2016, the Company received notice from Nasdaq that the Company was not in compliance with the listing rule, due to the delay in filing its Annual Report on Form 10-K, beyond the filing due date of March 30, 2016. BroadVision filed its Form 10-K on April 14, 2016 to conclude the matter.

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 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