Mavenir Systems reported Q3 revenues of $34.1 million, an increase of 31% year-over-year and 2% quarter-over-quarter. GAAP net loss for the third quarter of 2014 was $5.8 million, compared to $4.5 million in the third quarter of 2013 and $3.9 million for the second quarter of 2014.
“We are pleased with our achievement of continued growth and that we exceeded key financial milestones this quarter. The company is well positioned to take advantage of the dynamic mobile service provider market,” said Pardeep Kohli, president and chief executive officer, Mavenir Systems. “With Apple’s announcement in June that iOS 8 supports Wi-Fi calling using the operator’s voice and text messaging services, we believe Apple will serve as a catalyst for mobile operators to accelerate their IMS vendor selection decisions and/or deployment plans; coupled with the transition to NFV, we are seeing greater opportunities for our software-based IMS and EPC solution.”
“Although we saw some launches in the U.S. along with capacity expansions in the U.S. and EMEA, the majority of our worldwide customers continue to be in the network build-out phase as they work towards VoLTE and RCS launches, and we anticipate several more launches planned for late 2014 and/or early 2015,” said Terry Hungle, chief financial officer, Mavenir Systems.
