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Oct 31, 2021
SeaChange Q3 2022 Earnings Report
SeaChange reported Q3 2022 financial results, demonstrating continued operating momentum with revenues up 9% sequentially and 44% year-over-year.
Key Takeaways
SeaChange International, Inc. reported financial and operational results for the fiscal third quarter ended October 31, 2021. The company's total revenue was $7.2 million, compared to $6.5 million in the second quarter of fiscal 2022. GAAP net loss totaled $2.1 million, or $(0.04) per basic share, a decrease from GAAP net income of $0.2 million, or $0.00 per fully diluted share, in the second quarter of fiscal 2022. The company ended the quarter with cash and cash equivalents of $17.6 million and no debt.
Secured multi-million-dollar contract renewal with one of the largest multiple-system-operators in the United States.
Appointed veteran TMT executive Peter D. Aquino as President and CEO.
Generated 9% sequential revenue growth and 44% year-over-year.
Decreased operating expenses by 14% sequentially.
SeaChange
SeaChange
Forward Guidance
SeaChange is seeking to maximize the value of its technology platform through both organic and inorganic growth opportunities and believes continued execution on its strategic plan will drive scale, capture market share, and create even greater value for both its customers and stockholders.