Altigen Q3 revenue falls 14% year over year
ATGN•Quarterly financial details
| Metric | Actual |
|---|---|
| Q3 Revenue | $3.02 mln |
| Q3 EPS | $0 |
| Q3 Adjusted Net Income | $190,000 |
| Q3 Net Income | $15,000 |
| Q3 Adjusted EBITDA | $423,000 |
| Q3 Operating Income | $24,000 |
Outlook points to renewed growth
Altigen said it expects the positive trend in cloud recurring revenue to continue and anticipates renewed top-line growth in coming quarters.
Q3 revenue declines, while cloud recurring revenue improves
Altigen said fiscal third-quarter revenue fell 14% year over year to $3.02 million. Non-GAAP net income for the quarter also declined from the prior year.
The company said new contracted cloud recurring revenue exceeded churn for the first time in several years, which management described as a significant inflection point.
