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Cornerstone OnDemand Announces Third Quarter 2012 Financial Results

Learning and talent management software provider Cornerstone OnDemand, Inc. (NASDAQ: CSOD) today announced results for its quarter ended September 30, 2012.

Revenue for the third quarter of 2012 was $30.8 million, representing a 54% increase compared to the same period in 2011. Revenue for the first nine months of 2012 was $81.5 million, an increase of 53% compared to gross revenue for the same period in 2011.2

Gross profit for the third quarter of 2012 was $21.6 million, representing a 48% year-over-year increase compared to the same period in 2011. Gross profit for the first nine months of 2012 was $57.6 million, an increase of 51% compared to the same period in 2011, based on gross revenue.2

Bookings, which Cornerstone defines as gross revenue plus the change in deferred revenue for the period, were $42.7 million for the third quarter of 2012, representing a 78% increase compared to the same period in 2011.1 Bookings for the first nine months of 2012 were $98.2 million, representing a 66% increase compared to the same period in 2011.1 Deferred revenue at September 30, 2012 was $72.6 million, which was 82% higher than the balance at September 30, 2011, and 20% higher than the balance at June 30, 2012.

Cornerstone ended the quarter with over 1,100 clients and approximately 10.3 million users, representing 57% and 44% year-over-year growth of Cornerstone’s client base and users, respectively.3

"The third quarter was another exceptional quarter for Cornerstone OnDemand, and a continuation of what has been an outstanding year of growth for the company," said Adam Miller, Cornerstone's President and CEO. "We believe our bookings performance demonstrates that the recent wave of consolidation in talent management has improved our competitive positioning. With our commitment to the ongoing innovation and expansion of our product suite, we believe we will continue to strengthen our position as a leading talent management partner to organizations of all sizes."

Cornerstone’s net loss for the third quarter of 2012 was $7.6 million, or a $0.15 net loss per share.

Due to purchase accounting rules applicable to the acquisition we completed during the second quarter of 2012, Cornerstone recorded an adjustment of $1.6 million to reduce to fair value the balance of deferred revenue attributable to contracts assumed from Sonar Limited. This fair value adjustment has the impact of reducing the amount of revenue attributable to contracts assumed from Sonar Limited by $0.4 million for the quarter ended September 30, 2012 and $1.1 million for the first nine months of 2012. Non-GAAP revenue for the quarter ended September 30, 2012, which excludes the $0.4 million reduction, was $31.2 million, representing a 56% increase compared to the same period in 2011.1 Non-GAAP revenue from the acquisition date through September 30, 2012, excluding the $1.1 million reduction, was $82.6 million, representing a 56% increase compared to the same period in 2011.1

Non-GAAP net loss for the third quarter of 2012 was $3.6 million, or a $0.07 net loss per share, and non-GAAP net loss for the first nine months of 2012 was $13.1 million, or $0.26 net loss per share. Non-GAAP net loss is based on non-GAAP revenue and excludes, for the periods in which they are present, stock-based compensation and employer-related payroll taxes, amortization of intangible assets, acquisition costs, amortization of debt discount and issuance costs, early debt retirement expense, change in the fair value of preferred stock warrant liabilities, adjustments to taxes related to acquisition adjustments, and accretion related to preferred stock.1

At September 30, 2012, Cornerstone’s total cash and cash equivalents were $64.5 million and accounts receivable were $45.2 million, yielding a total of $109.7 million.

     
1   Non-GAAP revenue, bookings, non-GAAP net cash used in operating activities, non-GAAP net loss, non-GAAP net loss per share, non-GAAP gross profit, and non-GAAP gross margin are non-GAAP financial measures. Please see the discussion in the section “Non-GAAP Financial Measures” and the reconciliations at the end of this release.
 
2 Gross revenue in the first nine months of 2011 excludes the impact of a non-cash reduction of revenue related to a common stock warrant issued to ADP of $2.5 million. Net revenue and net loss for the nine months of 2011 was impacted by this non-cash reduction of revenue.
 
3 Includes contracted clients and active users of any combination of our four integrated cloud-based solutions, consisting of recruiting, learning, performance, and extended enterprise as of the end of the period. Our client and user counts exclude our Cornerstone Small Business Solution, or “CSB”.
 

Quarterly Conference Call

Cornerstone OnDemand will host a conference call to discuss its third quarter 2012 results at 2:00 p.m. PST (5:00 p.m. ET) today. A live audio webcast of the conference call, together with detailed financial information, can be accessed through the company’s Investor Relations Web site at http://investors.cornerstoneondemand.com/events.cfm. The live call can be accessed by dialing (888) 357-3694 (U.S.) or (973) 890-8276 (outside the U.S.) and referencing passcode: 65175817. A replay of the call will also be available at http://investors.cornerstoneondemand.com/events.cfm or via telephone until 11:59 p.m. PST on November 16, 2012 by dialing (855) 859-2056 (U.S.) or (404) 537-3406 (outside the U.S.), and referencing passcode: 65175817.

About Cornerstone OnDemand

Cornerstone OnDemand is a leading global provider of comprehensive learning and talent management solutions. We enable organizations to meet the challenges they face in empowering their people and maximizing the productivity of their human capital. Our integrated software-as-a-service (SaaS) solution consists of the Cornerstone Recruiting Cloud, the Cornerstone Performance Cloud, the Cornerstone Learning Cloud and the Cornerstone Extended Enterprise Cloud. Our clients use our solution to source and recruit top talent, develop employees throughout their careers, engage employees effectively, improve business execution, cultivate future leaders, and integrate with their external networks of customers, vendors and distributors. We currently empower approximately 10.3 million users across 186 countries and in 38 languages. www.csod.com

Note: Cornerstone® and Cornerstone OnDemand® are registered trademarks of Cornerstone OnDemand Inc.

Forward-looking Statements

This release contains forward-looking statements, including statements regarding Cornerstone OnDemand’s future financial performance, market growth, the demand for and benefits from the use of Cornerstone OnDemand’s solutions, and general business conditions. Any forward-looking statements contained in this press release are based upon Cornerstone OnDemand’s historical performance and its current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Cornerstone OnDemand’s expectations as of the date of this press release. Subsequent events may cause these expectations to change, and Cornerstone OnDemand disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from Cornerstone OnDemand’s current expectations. Important factors that could cause actual results to differ materially from those anticipated in our forward-looking statements include, but are not limited to, our ability to attract new clients; the extent to which clients renew their subscriptions for our solution; our ability to compete as the talent management provider for organizations of all sizes; changes in the proportion of our client base that is comprised of enterprise or mid-sized organizations; our ability to manage our growth, including additional headcount and entry into new geographies; the timing and success of solutions offered by our competitors; unpredictable macro-economic conditions; reductions in information technology spending; the success of our new product and service introductions; a disruption in our hosting network infrastructure; costs and reputational harm that could result from defects in our solution; the success of our strategic relationships with third parties; the loss of any of our key employees; increased demands on our infrastructure and costs associated with operating as a public company; failure to protect our intellectual property; acts of terrorism or other vandalism, war or natural disasters; changes in current tax or accounting rules; unanticipated costs or liabilities related to businesses that we acquire; and other risks and uncertainties. Further information on factors that could cause actual results to differ materially is included in Cornerstone OnDemand’s reports filed with the SEC, including its Form 10-K filed with the SEC on March 6, 2012, and subsequent reports filed with the SEC, including its Form 10-Q filed on August 14, 2012.

Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are prepared and presented in accordance with GAAP, Cornerstone OnDemand has provided in this release certain measures that have not been prepared in accordance with GAAP. These non-GAAP financial measures include (i) non-GAAP revenue, which is defined as gross revenue plus revenue not recognized in the period due to the impact of purchase accounting rules on deferred revenue acquired through acquisitions, (ii) bookings, which are defined as gross revenue plus the change in deferred revenue for the period, (iii) non-GAAP net cash used in operating activities, which excludes acquisition and acquisition-related costs and employer-related taxes from stock-based compensation, (iv) non-GAAP net loss and non-GAAP net loss per share, which are based on non-GAAP revenue and exclude, for the periods in which they are present, stock-based compensation and employer-related payroll taxes, amortization of intangible assets, acquisition costs, adjustments to taxes related to acquisition adjustments, amortization of debt discount and issuance costs, early debt retirement expense, change in the fair value of preferred stock warrant liabilities, and accretion related to preferred stock, and (v) non-GAAP gross profit and non-GAAP gross margin, which are calculated based on non-GAAP revenue and exclude stock-based compensation and amortization of certain intangible assets reflected in cost of revenue.

Cornerstone OnDemand’s management uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to the corresponding GAAP measures, in evaluating Cornerstone OnDemand’s ongoing operational performance and trends and in comparing its financial measures with other companies in the same industry, many of which present similar non-GAAP financial measures to help investors understand the operational performance of their businesses. However, it is important to note that the particular items Cornerstone excludes from, or includes in, its non-GAAP financial measures may differ from the items excluded from, or included in, similar non-GAAP financial measures used by other companies in the same industry.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of the non-GAAP financial measures to such GAAP measures has been provided in the tables included as part of this press release.

         
 

Cornerstone OnDemand, Inc.

 
CONSOLIDATED BALANCE SHEETS
 

(in thousands)

 

(unaudited)

 
September 30, 2012 December 31, 2011
Assets
Cash and cash equivalents $ 64,492 $ 85,409
Accounts receivable, net 45,157 34,110
Deferred commissions 4,223 3,537
Prepaid expenses and other current assets, net   7,132     3,789  
Total current assets 121,004 126,845
 
Capitalized software development, net 6,259 4,106
Property and equipment, net 6,171 3,663
Intangible assets, net 7,443 609
Goodwill 8,193 -
Other assets, net   207     139  
Total Assets $ 149,277   $ 135,362  
 
Liabilities and Stockholders' Equity
Liabilities
Accounts payable $ 6,465 $ 3,834
Accrued expenses 9,771 8,039
Deferred revenue, current portion 69,001 52,338
Capital lease obligations, current portion 1,438 1,617
Debt, current portion 630 265
Other liabilities   3,016     996  
Total current liabilities 90,321 67,089
 
Other liabilities, non-current 3,776 806
Deferred revenue, net of current portion 3,621 3,542

Capital lease obligations, net of current portion

1,279 1,056
Long-term debt, net of current portion   1,025     409  
Total liabilities 100,022 72,902
 
Stockholders' Equity
Common stock 5 5
Additional paid-in capital 237,953 226,916
Accumulated deficit (188,624 ) (164,651 )
Accumulated other comprehensive (loss) income   (79 )   190  
Total stockholders’ equity   49,255     62,460  
Total Liabilities and Stockholders' Equity $ 149,277   $ 135,362  
 
 

Cornerstone OnDemand, Inc.

 
CONSOLIDATED STATEMENTS OF OPERATIONS
 

(in thousands, except per share data)

 

(unaudited)

           

Three Months Ended
September 30,

Nine Months Ended
September 30,

  2012     2011     2012     2011  
 
Gross revenue $ 30,768 $ 20,019 $ 81,488 $ 53,136

Common stock warrant charge1

  -     -     -     (2,500 )
Net revenue 30,768 20,019 81,488 50,636

Cost of revenue2, 3

  9,135     5,371     23,869     14,903  
Gross profit 21,633 14,648 57,619 35,733
 
Operating expenses:

Sales and marketing2

18,624 11,531 52,283 32,244

Research and development2

4,101 2,670 10,625 7,608

General and administrative2

6,600 3,439 18,346 10,577
Amortization of certain acquired intangible assets   251     -     488     -  
Total operating expenses   29,576     17,640     81,742     50,429  
Loss from operations (7,943 ) (2,992 ) (24,123 ) (14,696 )
Other income (expense):
Interest expense (121 ) (35 ) (358 ) (782 )
Change in fair value of preferred stock warrant liabilities - - - (42,559 )
Withdrawn secondary offering expense - (555 ) - (555 )
Other, net   139     (643 )   (42 )   (220 )
Other income (expense), net   18     (1,233 )   (400 )   (44,116 )
Loss before income tax benefit (provision) for income taxes (7,925 ) (4,225 ) (24,523 ) (58,812 )
Income tax benefit (provision)   298     (52 )   550     (132 )
Net loss (7,627 ) (4,277 ) (23,973 ) (58,944 )
Accretion of redeemable preferred stock   -     -     -     (5,208 )
Net loss attributable to common stockholders $ (7,627 ) $ (4,277 ) $ (23,973 ) $ (64,152 )
Net loss per share attributable to common stockholders, basic and diluted $ (0.15 ) $ (0.09 ) $ (0.48 ) $ (1.74 )
Weighted-average common shares outstanding, basic and diluted   50,163     48,018     49,755     36,868  
 

1

During the second quarter of 2011, we recorded a $2.5 million reduction of revenue associated with a common stock warrant to ADP.
 

2

Includes stock-based compensation and employer-related taxes as follows:
 
Three Months Ended

September 30,

Nine Months Ended

September 30,

  2012     2011     2012     2011  
 
Cost of revenue $ 302 $ 75 $ 1,313 $ 176
Sales and marketing 1,124 355 2,301 825
Research and development 273 133 628 613
General and administrative   1,651     457     4,158     1,345  
Total $ 3,350   $ 1,020   $ 8,400   $ 2,959  
 

3

Cost of revenue includes amortization of intangible assets as follows:
 
Three Months Ended

September 30,

Nine Months Ended

September 30,

  2012     2011     2012     2011  
 
Cost of revenue $ 305 $ 32 $ 659 $ 96
 
 
Cornerstone OnDemand, Inc.
 
CONSOLIDATED STATEMENTS OF CASH FLOWS
 

(in thousands)

 

(unaudited)

       
Three Months Ended Nine Months Ended
September 30, September 30,
  2012     2011     2012     2011  
 
Cash flows from operating activities:
Net loss $ (7,627 ) $ (4,277 ) $ (23,973 ) $ (58,944 )
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization 1,962 986 4,939 2,695
Non-cash interest expense 28 72 106 518
Change in fair value of preferred stock warrant liabilities - - - 42,559
Charges related to the issuance of common stock warrant - - - 2,500
Unrealized foreign exchange (gain) loss (212 ) 482 (37 ) 258
Stock-based compensation expense 3,316 1,020 8,297 2,959
Deferred income taxes (291 ) - (652 ) -
Withdrawn secondary offering expense - 555 - 555
Non-cash charitable contribution of common stock - - - 193
Changes in operating assets and liabilities, net of effects from acquisition:
Accounts receivable (12,090 ) (3,163 ) (10,058 ) (2,197 )
Deferred commissions (353 ) (283 ) (572 ) (546 )
Prepaid expenses and other assets (2,822 ) (1 ) (3,408 ) (1,532 )
Accounts payable 1,044 551 1,656 349
Accrued expenses 1,533 717 1,124 1,779
Deferred revenue 11,450 3,999 15,743 6,085
Other liabilities   2,629     (102 )   3,042     (271 )
Net cash (used in) provided by operating activities   (1,433 )   556     (3,793 )   (3,040 )
Cash flows from investing activities:
Purchases of property and equipment (159 ) (79 ) (347 ) (848 )
Capitalized software costs (1,200 ) (855 ) (3,662 ) (2,217 )
Purchase of available-for-sale securities - - - (34,079 )
Proceeds from maturities of available-for-sale securities - 17,000 - 17,000
Cash paid for acquisition, net of cash acquired   -     -     (12,428 )   -  
Net cash (used in) provided by investing activities   (1,359 )   16,066     (16,437 )   (20,144 )
Cash flows from financing activities:
Proceeds from initial public offering, net of underwriting discounts and commissions - - - 90,539
Proceeds from issuance of preferred stock upon warrant exercises - - - 3,163
Proceeds for issuance of debt - - - 669
Payments of initial public offering costs - - - (3,436 )
Payments of withdrawn secondary offering costs - (555 ) - (555 )
Repayment of debt (254 ) (56 ) (1,250 ) (9,151 )
Principal payments under capital lease obligations (467 ) (387 ) (1,396 ) (1,159 )
Payments of withholding tax on net exercise of stock-based awards - - - (48 )
Proceeds from stock option and warrant exercises   942     238     1,983     615  
Net cash provided by (used in) financing activities   221     (760 )   (663 )   80,637  
Effect of exchange rate changes on cash and cash equivalents   95     (145 )   (24 )   (145 )
Net (decrease) increase in cash and cash equivalents (2,476 ) 15,717 (20,917 ) 57,308
Cash and cash equivalents at beginning of period   66,968     48,658     85,409     7,067  
Cash and cash equivalents at end of period $ 64,492   $ 64,375   $ 64,492   $ 64,375  
 
 
Cornerstone OnDemand, Inc.
 
RECONCILIATION OF REVENUE TO NON-GAAP REVENUE AND GROSS MARGIN TO NON-GAAP GROSS MARGIN
 

(dollars in thousands)

 

(unaudited)

         
Three Months Ended

September 30,

Nine Months Ended

September 30,

  2012     2011     2012     2011  
 
 
Gross revenue $ 30,768 $ 20,019 $ 81,488 $ 53,136

Common stock warrant charge1

  -     -     -     (2,500 )
Net revenue 30,768 20,019 81,488 50,636
Cost of revenue   9,135     5,371     23,869     14,903  
Gross profit $ 21,633   $ 14,648   $ 57,619   $ 35,733  
Gross margin 70 % 73 % 71 % 71 %
 
Reconciliation between gross margin and non-GAAP gross margin
Net revenue $ 30,768 $ 20,019 $ 81,488 $ 50,636
Adjustments to net revenue

Common stock warrant charge1

- - - 2,500

Adjustments to revenue2

  428     -     1,147     -  
Total adjustments to net revenue   428     -     1,147     2,500  
Non-GAAP revenue $ 31,196   $ 20,019   $ 82,635   $ 53,136  
 
Cost of revenue $ 9,135 $ 5,371 $ 23,869 $ 14,903
Adjustments to costs of revenue
Amortization of intangible assets (305 ) (32 ) (659 ) (96 )
Stock based compensation and employer-related taxes   (302 )   (75 )   (1,313 )   (176 )
Total adjustments to cost of revenue   (607 )   (107 )   (1,972 )   (272 )
Adjusted costs of revenue   8,528     5,264     21,897     14,631  
Non-GAAP gross profit $ 22,668   $ 14,755   $ 60,738   $ 38,505  
Non-GAAP gross margin 73 % 74 % 74 % 72 %
 

1

During the second quarter of 2011, we recorded a $2.5 million reduction of revenue associated with a common stock warrant to ADP.
 

2

Due to purchase accounting rules, upon acquisition, Cornerstone recorded an adjustment of $1.6 million to reduce the balance of deferred revenue related to the assumed client contracts acquired from Sonar Limited. As a result of this adjustment, $0.4 million and $1.1 million of revenue was not recognized during the three and nine months ended September 30, 2012, respectively. Therefore, revenue is adjusted by an increase of $0.4 million and $1.1 million to arrive at non-GAAP revenue for the three and nine months ended September 30, 2012, respectively.
 
 
Cornerstone OnDemand, Inc.
 
RECONCILIATIONS OF NET LOSS TO NON-GAAP NET LOSS AND NON-GAAP NET LOSS PER SHARE
 

(in thousands, except per share amounts)

 

(unaudited)

         
Three Months Ended

September 30,

Nine Months Ended

September 30,

  2012       2011     2012       2011  
 
 
Net loss $ (7,627 ) $ (4,277 ) $ (23,973 ) $ (58,944 )
Adjustments to net loss
Common stock warrant charge - - - 2,500
Stock-based compensation and employer-related payroll taxes 3,350 1,020 8,400 2,959
Acquisition related:

Adjustments to revenue1

428 - 1,147 -
Amortization of intangible assets 489 - 954 -
Acquisition costs - - 747 -

Adjustments to benefit (provision) for income taxes2

(302 ) - (662 ) -
Change in fair value of preferred stock warrant liabilities - - - 42,559
Withdrawn secondary offering expense - 555 - 555
Other amortization costs and other expenses   93     70     294     678  
Total adjustments to net loss   4,058     1,645     10,880     49,251  
Non-GAAP net loss $ (3,569 ) $ (2,632 ) $ (13,093 ) $ (9,693 )
Weighted-average common shares outstanding, basic and diluted   50,163     48,018     49,755     36,868  
Non-GAAP net loss per share $ (0.07 ) $ (0.05 ) $ (0.26 ) $ (0.26 )
 
 

1

As of September 30, 2012, approximately $0.4 million and $1.1 million in estimated revenues were not recognized during the three and nine months ended September 30, 2012, respectively, due to purchase accounting rules.
 

2

Income tax effects related to acquisition related adjustments.
 
 
Cornerstone OnDemand, Inc.
 
CALCULATION OF BOOKINGS (DEFINED AS GROSS REVENUE PLUS CHANGE IN DEFERRED REVENUE)
 

(dollars in thousands)

 

(unaudited)

   

Deferred Revenue
Balance

Three Months Ended
September 30, 2012

 
Gross revenue $ 30,768
 
Deferred revenue at June 30, 2012 $ 60,653

 

Deferred revenue at September 30, 2012   72,622
Change in deferred revenue 11,969   11,969  
 
Bookings $ 42,737  
 
 

Deferred Revenue
Balance

Three Months Ended
September 30, 2011

 
Gross revenue $ 20,019
 
Deferred revenue at June 30, 2011 $ 35,904
Deferred revenue at September 30, 2011   39,875
Change in deferred revenue 3,971   3,971  
 
Bookings $ 23,990  
 

Percentage period-over-period increase in bookings for the three months ended September 30, 2012

78 %
 
 

Deferred Revenue
Balance

Nine Months Ended
September 30, 2012

 
Gross revenue $ 81,488
 
Deferred revenue at December 31, 2011 $ 55,880
Deferred revenue at September 30, 2012   72,622
Change in deferred revenue 16,742   16,742  
 
Bookings $ 98,230  
 
 

Deferred Revenue
Balance

Nine Months Ended
September 30, 2011

 
Gross revenue $ 53,136
 
Deferred revenue at December 31, 2010 $ 33,818
Deferred revenue at September 30, 2011   39,875
Change in deferred revenue 6,057   6,057  
 
Bookings $ 59,193  
 

Percentage period-over-period increase in bookings for the nine months ended September 30, 2012

66 %
 
 
Cornerstone OnDemand, Inc.
 
RECONCILIATION OF NET CASH USED IN OPERATING ACTIVITIES TO NON-GAAP NET CASH USED IN OPERATING ACTIVITIES
 

(in thousands)

 

(unaudited)

         

Three Months Ended
September 30,

Nine Months Ended
September 30,

  2012     2011     2012     2011  
 
Net cash (used in) provided by operating activities $ (1,433 ) $ 556 $ (3,793 ) $ (3,040 )
Payment of acquisition related costs 555 - 747 -
Payment of employer related taxes from stock-based compensation   34     -     103     -  
Non-GAAP net cash (used in) provided by operating activities $ (844 ) $ 556   $ (2,943 ) $ (3,040 )
 

Net cash (used in) provided by investing activities1

$ (1,359 ) $ 16,066 $ (16,437 ) $ (20,144 )
Net cash provided by (used in) financing activities $ 221 $ (760 ) $ (663 ) $ 80,637
 
 

1

Includes purchases of property and equipment and capitalized software development costs.

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SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so they don't have to be replaced and are instantly converted to become smart, connected devices.
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.