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Jan 31, 2022
SeaChange Q4 2022 Earnings Report
SeaChange reported Q4 2022 financial results, with revenue up 20% sequentially and 67% year-over-year, and positive non-GAAP operating income.
Key Takeaways
SeaChange International, Inc. reported financial and operational results for the fiscal fourth quarter and full-year ended January 31, 2022. Total revenue was $8.6 million, an increase of 20% compared to the third quarter of fiscal 2022 and an increase of 67% compared to the fourth quarter of fiscal 2021. Non-GAAP income from operations totaled $1.2 million, or $0.02 per fully diluted share.
Closed two major renewal and upgrade projects with Tier 1 operators in North America and Latin America, adding over $2 million in one-time product and license revenue as well as long-term commitments for recurring support and services revenue.
Secured new business with a North American cable operator that will use SeaChange’s Advanced Advertising Solution to manage its broadcast insertion workflows.
Commenced onboarding process with two new StreamVid customers, expecting to provide long-term, high-margin SaaS revenue.
Launched the Xstream™ platform, a new product line that combines SeaChange’s Streaming and AdTech capabilities, focused on delivering and monetizing content via FAST channels on Connected TVs.
SeaChange
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SeaChange Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comService Revenue
CapyFin.comRevenue & Expenses
Visualization of income flow from segment revenue to net income