BroadVision, Inc. (NASDAQ:BVSN) has reported its financial results for the fourth quarter of 2017. BroadVision is one of the leading providers of engagement management and e-business solutions.
BroadVision reported $1.5 million in revenue during the quarter. The company reported the same revenue in the third quarter ended September 30, 2017 and $2.1 million for the fourth quarter of 2016. During the quarter, license revenue amounted to $0.9 million compared to the $0.8 million which the company reported in the third quarter of 2017. The company reported license revenue of $1.1 million in the fourth quarter of 2016. A big percentage of the license revenue was generated from the company’s Commerce Agility Suite™, BroadVision® Business Agility Suite™, Clearvale® and QuickSilver™ solution. During the quarter, revenue came from both existing and new customers.
During the fourth quarter, the company reported a net loss on a GAAP basis of $2.6 million which translates to $0.52 per basic and diluted share. This compared to a GAAP net loss of $2.5 million, or $0.50 per basic and diluted share which the company reported in the third quarter of 2017. The company reported a GAAP net loss of $2.4 million, or $0.48 per basic and diluted share during the fourth quarter of 2016.
For the fiscal 2017, the company reported $6.4 million and a net GAAP loss amounting to $10.1 million, or $2.02 per basic and diluted share. This is compared to the revenue of $7.9 million plus a GAAP net loss of $9.5 million, or $1.93 per basic and diluted share which was reported in the fiscal 2016.
At the close of the financial year 2017, BroadVision had $9.6 million of cash and cash equivalents plus short-term investments. The company had a compbines balance of $12.3 million at the close of the third quarter of 2017 and $19.7 million at the close of the fiscal 2016.
While commenting on the results, BroadVision President and CEO Dr Pehong Chen said many companies around the world are undertaking digital transformation projects, tapping into new technology so as to change the manner in which they operate as well as communicate with their customers and partners.