Procera Networks announced record-high revenues for Q3 ($21.3M, +33 Y/Y) bring it closer to Sandvine ($27.2M) and Allot Communications ($24.1M). The company also announced a new fixed Tier1 order (here) with parental control capabilities, and the selection of its DPI engine software, NAVL, by "4 leading technology companies for inclusion in their products" (here).
The 3 vendors total revenues in the first 3 quarters of 2013 were $198.4M, compared to $182M in the same quarters last year (a modest 9% growth, compared to 25-30% yearly growth expectations).
During its earning call, Procera's CEO, James Brear [pictured] provided the following information:
- We continue to [execute] on large joint deployments of Openet. We believe that we have a compelling joint solution [see "Openet and Procera Partner to Offer Integrated PCRF/PCEF Solution" - here] and we're winning new business with our Revenue Express solution with operators that want to avoid challenges of PCRF and PCEF integration by going to a prepackaged solution
- Our revenue mix for Q3 was 47% fixed, 27% mobile, 15% cable and 10% higher education enterprise
- 71% of our third quarter revenue was from new customers with 29% follow-on
- We have 16 direct trials with Tier 1 global service providers
- We are reiterating our guidance for annual revenue growth of at least 30% for 2013 [2012 revenues were $59.6M, leading to expected revenues of $77.5M in 2013, and $24.1M in Q4.