Friday, March 14, 2014

Procera Exposes BT Revenues for 2013

Last year Procera Networks reported on a "mega-carrier" deal (see "CEO: "Procera is the only company that delivers Internet intelligence"; Who is the $20M Mega-Carrier?" - here). Procera's CEO said then that "In Q3, we expect to begin to recognize revenue from a large deal with a mega-carrier .. we've characterized the size of this kind of opportunity in the $20-plus million over a 3-year period .. hardware and software only". The quarterly report for Q3 (here) mentions an anonymous 33% customer "revenue from two customers represented 33% and 11% of net revenue" or $7M.

The following day I reported that the mega-carrier is rumored to be BT (here).

It is official now. Procera's 10-K filling for 2013 (here) exposes BT as a major customer for 2013: "For the year ended December 31, 2013, revenue from three customers, Shaw Communications, Inc., British Telecommunications plc, and Itochu Techno-Solutions Corp. represented 13%, 12%, and 10% of net revenues, respectively".

With revenues of $74.6M for 2013, it brings the revenues from BT to approximately $9M - i.e. $2M for the 4th quarter.

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