Tag: 2017

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

BroadVision Announces First Quarter 2017 Results

REDWOOD CITY, Calif., May 10, 2017 (GLOBE NEWSWIRE) — 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, 2017. Revenues for the first quarter were $1.8 million, compared with revenues of $2.1 million for the fourth quarter ended December 31, 2016, and $2.0 million for the comparable quarter of 2016.

License revenue for the first quarter of 2017 was $0.9 million, compared to $1.1 million for the prior quarter and $1.0 million for the comparable quarter of 2016. 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 2017, BroadVision posted a net loss on a U.S. Generally Accepted Accounting Principles (“GAAP”) basis of $2.6 million, or $0.52 per basic and diluted share, as compared with a GAAP net loss of $2.4 million, or $0.48 per basic and diluted share, for the fourth quarter of 2016 and a GAAP net loss of $2.1 million, or $0.42 per basic and diluted share, for the comparable quarter of 2016.

As of March 31, 2017, the Company had $17.5 million of cash and cash equivalents and short-term investments, compared to a combined balance of $19.7 million as of December 31, 2016 and $27.3 million as of March 31, 2016.

“It’s increasingly clear to us that companies around the world are now recognizing the importance of managing and protecting their corporate knowledge,” said Dr. Pehong Chen, President and CEO of BroadVision.  “After a long period of growth of BYOD (bring your own device) programs and unmanaged BYOA (bring your own app), many organizations have realized the dangers these bring. Vmoso’s combination of knowledge management and collaborative processes make it the ideal digital workplace solution for those companies recognizing the need for a single source of truth for their communication and collaboration.”

Conference Call Information
BroadVision management will host a conference call today, Wednesday, May 10, 2017, at 2:00PM Pacific Daylight Time (PDT). The conference call may be accessed by dialing: 1-888-771-4371, with pin code 44807108#. 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 continue to generate revenue from its business solutions and service new and existing customers, 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 for the year ended December 31, 2017, 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,
20172016
ASSETS(unaudited)
Current assets:
Cash, cash equivalents and short-term investments$17,507$19,704
Other current assets2,8972,082
Total current assets20,40421,786
Other non-current assets202207
Total assets$20,606$21,993
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities$5,239$4,396
Other non-current liabilities911734
Total liabilities6,1505,130
Total stockholders’ equity14,45616,863
Total liabilities and stockholders’ equity$20,606$21,993
BROADVISION, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share data)
(unaudited)
Three Months Ended
March 31,
20172016
Revenues:
Software licenses$889$1,019
Services919990
Total revenues1,8082,009
Cost of revenues:
Cost of software revenues5338
Cost of services796772
Total cost of revenues849810
Gross profit9591,199
Operating expenses:
Research and development1,6791,743
Sales and marketing9571,151
General and administrative1,064985
Total operating expenses3,7003,879
Operating loss(2,741)(2,680)
Other income, net155656
Loss before provision for income taxes(2,586)(2,024)
Provision for income taxes(12)(27)
Net loss$(2,598)$(2,051)
Earnings per share, basic and diluted:
Basic and diluted loss per share$(0.52)$(0.42)
Shares used in computing:
Weighted average shares-basic and diluted4,9584,896
BroadVision Contact:

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

BroadVision Announces Fourth Quarter 2016 Results

 

REDWOOD CITY, Calif., Feb. 08, 2017 (GLOBE NEWSWIRE) — 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, 2016. Revenues for the fourth quarter were $2.1 million, compared with revenues of $2.0 million for the third quarter ended September 30, 2016, and $2.7 million for the comparable quarter of 2015.

License revenue for the fourth quarter of 2016 was $1.1 million, consistent with the prior quarter and $1.2 million for the comparable quarter of 2015. 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 2016, BroadVision posted a net loss on a U.S. Generally Accepted Accounting Principles (“GAAP”) basis of $2.4 million, or $0.48 per basic and diluted share, as compared with a GAAP net loss of $2.4 million, or $0.50 per basic and diluted share, for the third quarter of 2016 and a GAAP net loss of $3.3 million, or $0.68 per basic and diluted share, for the comparable quarter of 2015.

Full-year 2016 revenues totaled $7.9 million, with a GAAP net loss of $9.5 million, or $1.93 per basic and diluted share, compared to 2015 revenues of $9.4 million and a GAAP net loss of $11.4 million, or $2.36 per basic and diluted share.

As of December 31, 2016, the Company had $19.7 million of cash and cash equivalents and short-term investments, compared to a combined balance of $21.8 million as of September 30, 2016 and $29.1 million as of December 31, 2015.

“BroadVision’s global Vmoso partner network has continued to expand, and in Q4 we added NTT Communications as our major Vmoso strategic partner,” said Dr. Pehong Chen, President and CEO of BroadVision. “NTT Communications is the largest telecommunications company in Japan, and has endorsed Vmoso as a key initiative in knowledge-driven enterprise communication and collaboration. The relationship expands Vmoso’s distribution footprint with enhanced sales channels, public and private cloud deployment capacities, and technical and strategic consulting, systems integration, and customer support capabilities in key markets across four continents.”

Conference Call Information
BroadVision management will host a conference call today, Wednesday, February 8, 2017, at 2:00PM Pacific Standard Time (PST). The conference call may be accessed by dialing: 1-888-771-4371, with pin code 44194496. 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 continue to expand its global Vmoso partner network and its ability to derive enhanced channels and capabilities from its strategic partnership with NTT Communications, 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)
December 31,December 31,
20162015
ASSETS(unaudited)
Current assets:
Cash, cash equivalents and short-term investments$19,704$29,131
Other current assets2,0822,849
Total current assets21,78631,980
Other non-current assets207230
Total assets$21,993$32,210
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities$4,396$5,783
Other non-current liabilities734918
Total liabilities5,1306,701
Total stockholders’ equity16,86325,509
Total liabilities and stockholders’ equity$21,993$32,210
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,
2016201520162015
Revenues:
Software licenses$1,147$1,183$4,227$4,414
Services9111,4943,7135,028
Total revenues2,0582,6777,9409,442
Cost of revenues:
Cost of software revenues3931172152
Cost of services7311,1453,1503,341
Total cost of revenues7701,1763,3223,493
Gross profit1,2881,5014,6185,949
Operating expenses:
Research and development1,5791,8126,7687,219
Sales and marketing8211,2074,0004,889
General and administrative9808893,8043,501
Total operating expenses3,3803,90814,57215,609
Operating loss(2,092)(2,407)(9,954)(9,660)
Other (expense) income, net(294)(902)517(1,748)
Loss before provision for income taxes(2,386)(3,309)(9,437)(11,408)
Provision for income taxes(3)(10)(48)(29)
Net loss$(2,389) $(3,319)$(9,485) $(11,437)
Earnings per share, basic and diluted:
Basic and diluted net loss per share$(0.48)$(0.68)$(1.93)$(2.36)
Shares used in computing:
Weighted average shares-basic and diluted4,9514,8824,9244,857
BroadVision Contact:

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

BroadVision Expands Vmoso Global Distribution Footprint

 

Announces Key Strategic Partnerships at Global Partners Summit

REDWOOD CITY, Calif., Jan. 25, 2017 (GLOBE NEWSWIRE) — BroadVision, Inc. (Nasdaq:BVSN), a leading provider of mobile-centric platform for empowering digital enterprise transformation, where knowledge management unifies business communication, collaboration and engagement, today announced a number of Vmoso strategic partnerships at its second annual Global Partners Summit.  These relationships further expand Vmoso’s distribution footprint with enhanced sales channels, public and private cloud deployment capacities, technical and strategic consulting, systems integration, and customer support capabilities across a number of key markets on a worldwide basis.

The ever-expanding Vmoso ecosystem includes the following key partners, among others:

  • Brazil: MTI Studio, Tee Systems
  • Germany: Contexo Gesellschaft, Deutsche Telekom T-Systems, Document Future, IC Systems
  • India: TechTree IT Systems
  • Italy: Open Knowledge, Optimist
  • Japan: BQ Technologies, NEC SI, NTT Communications
  • Russia: Softline
  • Switzerland: ConsSys IT, Trygin Technologies
  • Taiwan: Mitac
  • Thailand: Farmor Cloud Factory, Yip In Tsoi
  • United Kingdom: CC360, Agile Elephant
  • United States: Estuate, NeoWorks

Junichi Kudo, Head of Applications and Content, NTT Communications, said, “We are very excited to become a strategic and value-added hosting partner for Vmoso in Japan.  With Vmoso set to play a key role in companies looking to unify mobile-centric workplace collaboration and business engagement into a single source of truth, it presents tremendous digital transformation opportunities for NTT Communications and our enterprise customers across all industries.”

BroadVision CEO, Dr. Pehong Chen, added, “We are very pleased to welcome a number of new strategic partners joining our ecosystem as well as participating at our annual summit this week.  With channels at the center of our distribution strategy, we will continue to recruit and work closely with our global partners to provide Vmoso as the most compelling digital enterprise transformation platform for our joint customers.”

The Vmoso global ecosystem is based on a three-tier partnership program consisting of Referral Agent, Value-Added Reseller/Distributor, and Passport Hosting Partner.  Furthermore, as an open platform, Vmoso comes with more than 500 APIs and a host of “integration bots,” providing ample systems integration and other incremental business opportunities for partners to deliver compelling ROI results in any digital enterprise transformation projects.

Interested partners please visit http://www.broadvision.com/en/partners for additional program details and review partner testimonial video from Document Future AG for references.

About Vmoso

Vmoso is a mobile-centric application platform for empowering digital business transformation, where knowledge management meets enterprise communication, collaboration, and engagement.  It unifies email, instant messaging, content sharing, workflow, and social networking into one integrated user experience, forming a single source of truth across a detailed corporate knowledge web, to significantly enhance both internal collaboration and external engagement, delivering substantial gains in both business velocity and value.

www.broadvision.com/vmoso-overview

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 digital business transformation and Clearvale for enterprise social networking—are available globally in the cloud via the Web and mobile applications.

www.broadvision.com

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

BroadVision Contact: 
Shalease Hanchett
shalease.hanchett@broadvision.com
(650) 331 1000