FalconStor Q2 revenue rises, net loss narrows on hybrid cloud offerings, operational streamlining
FALC•Outlook
- Company did not provide specific guidance for future quarters or the full year
Overview
- Data protection software firm's Q2 revenue rose 27% yr/yr
- Q2 net loss narrowed to $0.3 mln from $0.5 mln a year earlier
- Company launched Cloud Clean Room offering with new data security technology
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | $2.60 mln | ||
| Q2 Net Loss | $300,000 | ||
| Q2 Operating Expenses | $2.40 mln |
Result drivers
- Hybrid cloud growth - Co said hybrid cloud ARR run-rate increased 91% yr/yr
- New product launch - Co launched Cloud Clean Room offering powered by new data security technology
- Operational streamlining - Co said streamlining operations and aligning resources with growth initiatives contributed to profitability improvements
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