“4:05p ET 9/12/2022 - Globe Newswire
SeaChange Reports Fiscal 2Q 2023 Financial and Operational Results
EQNX::TICKER_START (NASDAQ:SEAC), EQNX::TICKER_END -- Revenue of $7.3M for Fiscal 2Q 2023 was up 12% y/y and 9% sequentially
-- Gross Margin up 200 basis points y/y to 65% with execution on profitable growth
-- Attractive outlook with focus on streaming, digital advertising, and Connected TV
SeaChange International, Inc. (NASDAQ: SEAC), ("SeaChange" or the "Company") a leading provider of video delivery, advertising, streaming platforms, and emerging FAST (Free Ad-Supported Streaming TV services) development, today, reported financial and operational results for the fiscal second quarter ended July 31, 2022.
Fiscal Second Quarter 2023 and Recent Highlights
Management Commentary
"We have made great progress in the first half of fiscal 2023 in advancing our pursuit to becoming a leading technology provider that enables video distribution and monetization, while also generating improved financial results," said SeaChange's Chairman and Chief Executive Officer Peter D. Aquino. "We are continuing to grow our existing customer engagements, while expanding our services and offerings with new logos in high growth international markets that offer SaaS-based recurring revenue streams. We are leveraging our expertise in software engineering related to video and ad insertion services on Connected TVs and streaming devices. Additionally, we are encouraged by our continued revenue growth and positive non-GAAP operating income, which solidifies our platform for further market expansion through organic growth, and potential strategic alternatives to gain scale."
Fiscal Second Quarter 2023 Financial Results
-- Ended the second quarter of fiscal 2023 with cash and cash equivalents of $14.3 million and no debt.”
my posts are always theory and not financial advice
