Aerohive says 28% of revenue now comes from subscriptions

Aerohive Networks reported total revenue for the second quarter of fiscal year 2018 of $40.5 million, compared with $42.2 million for the second quarter of 2017. Subscription and support revenue was $11.2 million, or 28% of total revenue, for the second quarter of fiscal year 2018, compared with $10.1 million, or 24% of total revenue, for the second quarter of 2017. GAAP net loss was $2.8 million for the second quarter of fiscal year 2018, compared with a net loss of $3.8 million for the second quarter of 2017. GAAP gross margin was 66.0% for the second quarter of fiscal year 2018, compared with 67.7% for the second quarter of 2017. Non-GAAP net income was $0.9 million for the second quarter of fiscal year 2018, compared with a net income of $0.7 million for the second quarter of 2017.

“We’re pleased with our performance in the second quarter, as we continue to improve our execution and strengthen our financial foundation. We grew our Enterprise business by double digits, which has further lowered our dependence on the U.S. K-12 market,” stated David Flynn, President and Chief Executive Officer.