BroadVision Releases First Quarter Results

BroadVision (NASDAQ:BVSN), a company that provides ebusiness solutions globally announced its first quarter financial results. Revenues figures stood at US$1.1 million, a decline from US$1.6 million in the first quarter of 2018. The company’s cash position also declined, standing at US$5.7 million compared to US$7.9 million year-over-year.

As quoted in the press release.

License revenue for the first quarter of 2019 was $0.6 million, compared with revenues of $0.7 million for the fourth quarter ended December 31, 2018 and $0.9 million for the comparable quarter of 2018. The majority of the first 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 first quarter of 2019, BroadVision posted net income attributable to BroadVision on a GAAP basis of $0.6 million, or $0.12 per basic and diluted share, as compared with GAAP net loss of $1.6 million, or $0.33 per basic and diluted share, for the fourth quarter of 2018 and GAAP net loss of $1.5 million, or $0.30 per basic and diluted share, for the comparable quarter of 2018.

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