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Jul 31, 2020
SeaChange Q2 2021 Earnings Report
SeaChange's financial performance was impacted by COVID-19, with customers delaying technology investments, but cost-optimization measures improved liquidity and positioned the company for a strong recovery.
Key Takeaways
SeaChange International reported a decrease in revenue for the fiscal second quarter of 2021, impacted by COVID-19. However, cost-optimization measures led to a reduction in operating expenses, and the company is seeing increased customer engagement and expects revenue growth in the second half of the fiscal year.
Secured a new win with a U.S.-based regional cable television provider for the Framework video delivery platform, bringing the total wins to 29 with an aggregate total contract value of approximately $62 million since its launch in March 2019.
Expanded relationship with Amazon Web Services (AWS) to provide new functionalities for SeaChange’s Framework platform with AWS machine learning (ML) services.
Ongoing cost-optimization measures produced a 9% sequential decrease and 31% year-over-year decrease in operating expenses in the fiscal second quarter of 2021.
The company expects to generate revenue growth in the second half of fiscal 2021 compared to the first half of fiscal 2021.
SeaChange
SeaChange
SeaChange Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comService Revenue
CapyFin.com Forward Guidance
Based on the Company’s sales pipeline and backlog, management currently expects to generate revenue growth in the second half of fiscal 2021 compared to the first half of fiscal 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income