Wednesday, August 3, 2016

Aerohive Posts Q2 Revenue of $47.6 Million, up 29% YoY

Aerohive Networks posted Q2 2016 revenue of $47.6 million, an increase of 29% compared with $36.8 million for the second quarter of 2015 and an increase of 19% compared with $40.1 million for the first quarter of 2016. There was a GAAP net loss of $7.4 million, compared with $10.8 million in the second quarter of 2015. GAAP gross margin was 67.5%, compared with 67.0% in the year-ago period.


Software subscription and services revenue was $8.1 million, or 17% of total revenue for the quarter, compared with $6.1 million, or 17% of total revenue, for the second quarter of 2015.

 “We delivered record results in Q2 through strong execution in the face of some market headwinds, leading to our fifth consecutive quarter of exceeding expectations on both the top and bottom line and continued progress toward non-GAAP operating profitability,” stated David Flynn, President and Chief Executive Officer. “I am also pleased with the significant progress we made in our business to strengthen our channels and product offerings, including the introduction of 7 new products in Q2.”

http://ir.aerohive.com

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