Wednesday, May 11, 2011

Procera Q1 Results - 2 New 10% Customers Generated 50% of Revenues

Procera published Q1 results, showing growth of 110% from Q1 2010 (see "Procera Networks Announces First Quarter 2011 Results" - here).

According to Procera's report filled with the SEC (here), ".. revenue from two customers represented 28% and 22% of net revenue, respectively, with no other single customer representing more than 10% of net revenue".

The press release mentions that "Sales to two Tier-1 service provider customers were greater than 10% of revenue, a first for these customers", from which we can understand that Cox Communications, a 10% customer in Q2 of 2010 (here), is not one of the two 10% customers for Q1 2011.

Q1 showed a customer concentration phenomena for the other public DPI vendors as well (see - Allot, Sandvine).

During Q1 conference call (here), management said that GENBAND generated $385K for Procera during the quarter. The company added 10 new employees during the quarter and has now 14 sales people, planning to add more during the year "based on the opportunities"

No comments:

Post a Comment