Friday, February 21, 2014

Mavenir Posts Stronger Q4

Mavenir Systems reported revenue $27.1 million for Q4 2013, an increase of 62% year-over-year. GAAP operating loss for the fourth quarter of 2013 was $(1.7) million, compared with $(5.6) million in the fourth quarter of 2012.

The company notes fifteen customer wins for next generation products, and four major expansions, including VoLTE and RCS, in 2013.

"Mavenir delivered a strong year with solid financial results, setting new quarterly and annual revenue records attributed in part, to the adoption of 4G LTE becoming more broad-based in 2013," said Pardeep Kohli, president and chief executive officer, Mavenir Systems. “We are well positioned to capitalize on 4G LTE adoption and virtualization, two trends which will be key growth drivers for our business in 2014."

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