Mavenir Systems Q4 revenue up 62% over prior year quarter

Mavenir Systems (NYSE: MVNR) has reported total revenue for the fourth quarter of 2013 was USD27.1m, an increase of 62 percent year-over-year.

GAAP operating loss for the fourth quarter of 2013 was USD(1.7)m, compared with USD(5.6)m in the fourth quarter of 2012. Non-GAAP operating loss, which excludes stock-based compensation, foreign exchange gains or losses, depreciation and amortization, was USD(0.1)m for the fourth quarter of 2013 versus USD(3.4)m for the fourth quarter of 2012. GAAP net loss for the fourth quarter of 2013 was USD(2.8)m, compared to USD(6.5)m in the fourth quarter of 2012. Non-GAAP net loss for the fourth quarter of 2013 was USD(1.6)m, compared with a loss of USD(4.6)m in the fourth quarter of 2012.

GAAP gross profit margin was 58 percent in the quarter, compared to 56 percent in the fourth quarter of 2012. Non-GAAP gross profit margin was above the high end of the company´s guidance range, at 59 percent in the quarter, compared to 61 percent in the fourth quarter of 2012.

Net loss per share was USD(0.22) for the fourth quarter of 2013 compared with USD(4.87) for the fourth quarter of 2012. As outlined in the accompanying table entitled “Non-GAAP Net Loss Per Share” included in this press release, the non-GAAP net loss per share was USD(0.08) for the fourth quarter of 2013 compared to USD(0.26) for the fourth quarter of 2012.

Total revenue for the full year 2013 was USD101.3m, an increase of 37 percent year-over-year. GAAP operating loss was USD(7.7)m in 2013, compared to USD(14.6)m in 2012. Non-GAAP operating loss, which excludes stock-based compensation, depreciation and amortization, was USD(2.1)m in 2013 compared to USD(10.2)m in 2012. GAAP net loss for 2013 was USD(15.3)m, compared to USD(15.6)m in 2012. Non-GAAP net loss for 2013 was USD(7.8)m, compared to a loss of USD(11.8)m in 2012.

Mavenir is a provider of software-based networking solutions that enable mobile service providers to deliver high-quality Internet protocol (IP)-based voice, video, rich communication and enhanced messaging services to their subscribers globally. Its website is at www.mavenir.com

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