Avigilon Revenue Up 38 Per Cent, Asia Pacific Up 16 Per Cent
Avigilon Q2 2015 revenue was $US89.8 million, a 38 per cent increase over Q2 2014 revenue of $65.2 million, while Asia Pacific was up 16 per cent.
The quarterly revenue gains were attributed to increased product sales driven by greater customer adoption in existing markets, further penetration of new target regions and sales of new products.
Year-over-year quarterly revenue in the United States grew 54 per cent; EMEA, 31 per cent; Latin America, 23 per cent; Asia Pacific, 16 per cent; while revenue in the United Kingdom and Canada declined 4 per cent and 1 per cent, respectively. Gross margin was 58 per cent, up from 55 per cent a year earlier. Adjusted EBITDA was $15.4 million, a 68 per cent increase over the same period last year of $9.2 million.
Net income for the second quarter decreased 19 per cent year-over-year to $2.3 million, compared with $2.8 million in the same period last year. The company said its net income for the second quarter was negatively impacted by a foreign exchange loss of $2.8 million, $3.4 million in business acquisition-related and non-recurring legal expenses, among other charges.
“In the second quarter, Avigilon set a new record for revenue as we executed on our proven growth strategy,” says Alexander Fernandes, Avigilon’s Founder, president, CEO and chairman of the Board.
“We remain committed to investing in the business to drive ongoing growth and are well on track to achieve our stated goal of $500 million in annual run-rate revenue by the end of 2016.” ♦