Cyan reported Q1 2014 revenue of $19.0 million compared with $26.3 million in the first quarter of 2013 and $20.9 million for the fourth quarter of 2013. GAAP net loss for the first quarter was $17.8 million, or $0.38 per share, compared with a net loss of $9.4 million, or $3.61 per share, in the same period last year, and a net loss of $13.7 million, or $0.29 per share, in the fourth quarter of 2013.
“In 2014 we are seeing industry momentum accelerate as servicer providers are announcing initiatives to transform their networks with SDN and NFV technologies,” said Mark Floyd, Cyan’s chairman and chief executive officer. “We believe Cyan is well positioned in the market and has a unique, first mover advantage in helping customers to orchestrate both network and virtualized resources across multi-domain, multi-vendor networks.”
