|By Business Wire||
|July 29, 2014 04:03 PM EDT||
Castlight Health®, Inc. (NYSE:CSLT), a pioneer of the Enterprise Healthcare Cloud, today announced results for its second quarter ended June 30, 2014.
“Demand for Castlight’s Enterprise Healthcare Cloud remains strong as large organizations are increasingly evaluating enterprise healthcare technology to gain control of their healthcare spending,” said Giovanni Colella, M.D., co-founder and Chief Executive Officer of Castlight Health. “We ended the second quarter with 130 customers and expanded our Fortune 500 customer list by more than 20 percent. New large customers included Google, Kellogg Company, Texas Instruments and Sprint Corporation, among others. Further, we continue to execute well. We launched 13 additional customers during the second quarter, including CalPERS, and implemented Castlight Pharmacy and Castlight Rewards for 12 existing customers.”
Colella continued, “We continue to launch new products and lead the way with technologies that enable innovative benefit designs for our customers. We were pleased to announce the upcoming launch of Castlight Dental, which is the newest significant expansion of our Castlight Care Solution Center alongside Castlight Medical and Castlight Pharmacy.”
Financial Performance for the Three Months Ended June 30, 2014
- Total revenue for the second quarter of 2014 was $10.5 million, an increase of 353% from the second quarter of 2013. Subscription revenue was $9.6 million, an increase of 359% on a year-over-year basis. Professional services revenue was $1.0 million, an increase of 304% compared with the same period last year.
- Gross margin for the second quarter of 2014 was 29.6%, compared to a gross loss of 64.9% in the second quarter of 2013. Non-GAAP gross margin for the second quarter of 2014 was 32.6% compared to a gross loss of 63.9% in the second quarter of 2013.
- Operating loss for the second quarter of 2014 was $21.8 million, compared to an operating loss of $14.2 million during the second quarter of 2013. Non-GAAP operating loss for the second quarter of 2014 was $18.8 million, compared to a non-GAAP operating loss of $13.7 million during the second quarter of 2013.
- Net loss per basic and diluted share was ($0.24) in the second quarter of 2014, compared to a loss of ($1.47) per share in the second quarter of 2013. The non-GAAP net loss per share for the second quarter of 2014 was ($0.21), compared to a loss of ($1.43) per share in the second quarter of 2013. For both GAAP and non-GAAP purposes, the weighted average basic and diluted share count for the second quarter of 2014 was 89.5 million compared to 9.6 million in the second quarter of 2013.
- Total cash, cash equivalents and marketable securities were $217.9 million at the end of the second quarter of 2014, compared to $239.7 million at the end of last quarter. Cash used in operations for the second quarter of 2014 was $19.6 million, compared to $16.1 million used in operations last quarter.
A reconciliation of GAAP to non-GAAP results has been provided in this press release in the accompanying tables. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures”.
Q3 2014 Guidance: Revenue for the company’s third fiscal quarter is expected to be in the range of $11.3 million to $11.6 million, an increase of 214% to 222% year-over-year. Non-GAAP operating loss is expected to be in the range of ($18.7) million to ($19.0) million. Non-GAAP basic and diluted loss per share is expected to be approximately ($0.21) based on 90.0 million weighted average basic and diluted common shares outstanding.
Full Year 2014 Guidance: Revenue for the company’s full year 2014 is expected to be in the range of $42.6 million to $43.2 million, an increase of 228% to 232% year-over- year. Non-GAAP operating loss is expected to be in the range of ($75.0) million to ($76.0) million. Non-GAAP basic and diluted loss per share is expected to be in the range of ($1.00) to ($1.01) based on 75.0 million weighted average basic and diluted common shares outstanding.
For both the third quarter and the full year 2014, non-GAAP estimates exclude the effects of stock-based compensation expense and warrant expense.
Castlight Health announced today that Randy Womack, chief operating officer, will step down September 30, 2014 after nearly four years of service with the company. Mr. Womack’s responsibilities will be assumed by other members of Castlight’s management team after a seamless transition process is completed.
Additionally, Concur CEO Steve Singh has joined Castlight’s Board of Directors, effective immediately. Concurrently, directors Bob Kocher, M.D., partner at Venrock, and Christopher P. Michel, managing director at Nautilus Ventures, departed the Board. Dr. Kocher will remain as an advisor to the company, and Bryan Roberts, co-founder of Castlight and general partner at Venrock, remains Castlight’s Chairman of the Board. These changes follow the April addition of Ed Park, executive vice president and chief operating officer of athenahealth to the Board of Directors.
“We would like to thank Randy for his efforts to help make Castlight such a great company and achieve such strong momentum as a business. Randy has decided to leave the company with the success of his third IPO to pursue his passion for startups. We wish him every success in his future endeavors,” said Colella. “Moving forward, Castlight has an incredibly strong group of experienced, proven leaders. I look forward to working with them to continue to capture growth and realize innovation opportunities.”
Quarterly Conference Call
Castlight Health will host a conference call to discuss its second quarter results today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). A live audio webcast of the conference call, together with detailed financial information, can be accessed through the company's Investor Relations website at http://ir.castlighthealth.com. In addition, an archive of the audiocast can be accessed through the same link. Participants who choose to call in to the conference call can do so by dialing 1-201-689-8562. A replay will be available at 1-858-384-5517, passcode 13586458, until midnight (Eastern Time) August 5, 2014.
About Castlight Health
Castlight Health, Inc. (NYSE: CSLT) believes great healthcare builds great business. The Castlight Enterprise Healthcare Cloud enables employers to deliver cost-effective benefits, provides medical professionals and health plans a merit-based market to showcase their services, and – most importantly – empowers employees to make informed choices with a clear understanding of costs and likely outcomes. For more information visit www.castlighthealth.com. Follow us on Twitter and LinkedIn and Like us on Facebook. Source: Castlight Health.
Non-GAAP Financial Measures
To supplement Castlight Health’s financial statements presented in accordance with generally accepted accounting principles (GAAP), we also use and provide investors and others with non-GAAP measures of certain components of financial performance, including non-GAAP gross margin (loss), non-GAAP operating expense, non-GAAP operating loss and non-GAAP net loss per share. These non-GAAP financial measures differ from GAAP financial measures in that they exclude stock-based compensation, expense for a warrant issued to a third-party service provider and the associated tax impact of these items, where applicable.
We believe that these non-GAAP financial measures provide useful supplemental information to investors and others, facilitate the analysis of the company’s core operating results and comparison of operating results across reporting periods, and can help enhance overall understanding of the company’s historical financial performance.
We have provided a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure, except that we have not reconciled our non-GAAP operating loss and net loss per share guidance for the third quarter and full fiscal year of 2014 to comparable GAAP operating loss and net loss per share guidance because we do not provide guidance for stock-based compensation expense and warrant expense, which are reconciling items between GAAP and non-GAAP operating loss. The factors that may impact our future stock-based compensation expense and warrant expense are out of our control and/or cannot be reasonably predicted, and therefore we are unable to provide such guidance without unreasonable effort.
These non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, measures prepared in accordance with GAAP. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore comparability may be limited. Castlight Health encourages investors and others to review the company’s financial information in its entirety and not rely on a single financial measure.
Safe Harbor For Forward-Looking Statements
This press release contains forward-looking statements about Castlight Health’s expectations, plans, intentions, and strategies, including, but not limited to, statements regarding Castlight Health’s third quarter and full year projections, our expectations for future performance of our business, market growth and business conditions, future innovation by the company and future developments with respect to the digital healthcare industry. Statements including words such as “anticipate,” “believe,” “estimate,” “will,” “continue,” “expect,” or “future,” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in Castlight Health’s documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Castlight Health as of the date hereof. Castlight Health assumes no obligation to update these forward-looking statements.
Copyright 2014 Castlight Health, Inc. Castlight Health, Castlight, Castlight Medical, Castlight Pharmacy, Castlight Dental, Castlight Care Solution Center are trademarks and/or registered trademarks of Castlight Health Inc. in the United States and other countries. Other company and product names may be trademarks of the respective companies with which they are associated.
|CASTLIGHT HEALTH, INC.|
|CONDENSED CONSOLIDATED BALANCE SHEETS|
|June 30,||December 31,|
|Cash and cash equivalents||$||35,268||$||25,154|
|Accounts receivable, net||10,392||5,065|
|Prepaid expenses and other current assets||3,010||1,583|
|Total current assets||176,176||77,467|
|Property and equipment, net||3,164||2,631|
|Marketable securities, noncurrent||58,095||-|
Restricted cash, noncurrent
|Deferred commissions, noncurrent||1,648||1,821|
|Liabilities, convertible preferred stock and stockholders' equity (deficit)|
|Accrued expenses and other current liabilities||3,937||4,998|
|Total current liabilities||27,819||22,523|
|Deferred revenue, noncurrent||5,780||4,548|
|Other liabilities, noncurrent||317||373|
|Commitments and contingencies|
|Convertible preferred stock||-||180,423|
|Stockholders' equity (deficit)||205,547||(124,350||)|
|Total liabilities, convertible preferred stock and stockholders' equity (deficit)||$||239,463||$||83,517|
|CASTLIGHT HEALTH, INC.|
|CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS|
|(In thousands, except per share data)|
|Three Months Ended June 30,||Six Months Ended June 30,|
|Cost of revenue:|
|Cost of subscription (1)||2,915||1,460||5,627||2,664|
|Cost of professional services (1)||4,502||2,373||8,373||4,426|
|Total cost of revenue||7,417||3,833||14,000||7,090|
|Gross profit (loss)||3,116||(1,508||)||4,909||(2,858||)|
|Sales and marketing (1)||14,947||7,108||31,507||12,873|
|Research and development (1)||5,476||3,616||11,003||6,524|
|General and administrative (1)||4,519||1,981||8,529||3,441|
|Total operating expenses||24,942||12,705||51,039||22,838|
|Other income, net||50||40||73||90|
|Net loss per share, basic and diluted||$||(0.24||)||$||(1.47||)||$||(0.86||)||$||(2.71||)|
|Weighted-average shares used in basic and diluted net loss per share||89,520||9,619||53,284||9,438|
|(1)Includes stock-based compensation expense as follows:|
|Three Months Ended June 30,||Six Months Ended June 30,|
|Cost of revenue:|
|Cost of subscription||$||35||$||-||$||39||$||1|
|Cost of professional services||280||23||420||52|
|Sales and marketing||1,152||225||2,326||408|
|Research and development||493||61||914||110|
|General and administrative||980||156||1,794||272|
|CASTLIGHT HEALTH, INC.|
|CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS|
|Three Months Ended June 30,||Six Months Ended June 30,|
|Adjustments to reconcile net loss to net cash used in operating activities:|
|Amortization of deferred commission||868||196||2,244||325|
|Accretion and amortization of marketable securities||373||193||497||421|
|Expense related to issuance of warrant||70||-||2,499||-|
|Changes in operating assets and liabilities:|
|Prepaid expenses and other assets||(596||)||(435||)||(1,677||)||(535||)|
|Accrued expenses and other liabilities||2,173||2,406||(1,203||)||1,109|
|Net cash used in operating activities||(19,574||)||(10,005||)||(35,635||)||(22,159||)|
|Decrease restricted cash, net||101||-||101||-|
|Purchase of property and equipment||(311||)||(408||)||(967||)||(1,118||)|
|Purchase of marketable securities||(126,442||)||(8,382||)||(162,175||)||(16,480||)|
|Sales of marketable securities||-||-||13,000||5,000|
|Maturities of marketable securities||3,000||39,075||8,000||44,075|
|Net cash (used in) provided by investing activities||(123,652||)||30,285||(142,041||)||31,477|
|Proceeds from the exercise of stock options||106||154||1,628||200|
|Payments of deferred financing costs||(1,679||)||-||(3,781||)||-|
Net proceeds from initial public offering
|Net cash (used in) provided by financing activities||(1,573||)||154||187,790||200|
|Net increase (decrease) in cash and cash equivalents||(144,799||)||20,434||10,114||9,518|
|Cash and cash equivalents at beginning of the period||180,067||31,618||25,154||42,534|
|Cash and cash equivalents at end of the period||$||35,268||$||52,052||$||35,268||$||52,052|
|CASTLIGHT HEALTH, INC.|
|RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES|
|(In thousands, except per share data)|
|Three Months Ended||Six Months Ended|
|June 30,||March 31,||June 30,||June 30,||June 30,|
|Gross profit (loss):|
GAAP gross profit subscription
|GAAP gross margin subscription||69.6||%||63.7||%||30.1||%||67.0||%||30.4||%|
|Stock-based compensation expense included in cost of revenue subscription||35||4||-||39||1|
|Non-GAAP gross profit subscription||$||6,696||$||4,755||$||628||$||11,451||$||1,164|
|Non-GAAP gross margin subscription||69.9||%||63.7||%||30.1||%||67.2||%||30.4||%|
|GAAP gross loss professional services||$||(3,545||)||$||(2,958||)||$||(2,136||)||$||(6,503||)||$||(4,021||)|
|GAAP gross loss percentage professional services||(370||)||%||(324||)||%||(901||)||%||(348||)||%||(993||)||%|
|Stock-based compensation expense included in cost of revenue professional services||280||140||23||420||52|
|Non-GAAP gross loss professional services||$||(3,265||)||$||(2,818||)||$||(2,113||)||$||(6,083||)||$||(3,969||)|
|Non-GAAP gross loss percentage professional services||(341||)||%||(309||)||%||(892||)||%||(325||)||%||(980||)||%|
|GAAP gross profit (loss)||$||3,116||$||1,793||$||(1,508||)||$||4,909||$||(2,858||)|
|GAAP gross margin (loss percentage)||29.6||%||21.4||%||(64.9||)||%||26.0||%||(67.5||)||%|
|Impact of non-GAAP adjustments||315||144||23||459||53|
|Non-GAAP gross profit (loss)||$||3,431||$||1,937||$||(1,485||)||$||5,368||$||(2,805||)|
|Non-GAAP gross margin (loss percentage)||32.6||%||23.1||%||(63.9||)||%||28.4||%||(66.3||)||%|
|GAAP sales and marketing||$||14,947||$||16,560||$||7,108||$||31,507||$||12,873|
|Expense related to warrant||(70||)||(2,429||)||-||(2,499||)||-|
|Stock-based compensation expense included in sales and marketing||(1,152||)||(1,174||)||(225||)||(2,326||)||(408||)|
|Non-GAAP sales and marketing||$||13,725||$||12,957||$||6,883||$||26,682||$||12,465|
|GAAP research and development||$||5,476||$||5,527||$||3,616||$||11,003||$||6,524|
|Stock-based compensation expense included in research and development||(493||)||(421||)||(61||)||(914||)||(110||)|
|Non-GAAP research and development||$||4,983||$||5,106||$||3,555||$||10,089||$||6,414|
|GAAP general and administrative||$||4,519||$||4,010||$||1,981||$||8,529||$||3,441|
|Stock-based compensation expense included in general and administrative||(980||)||(814||)||(156||)||(1,794||)||(272||)|
|Non-GAAP general and administrative||$||3,539||$||3,196||$||1,825||$||6,735||$||3,169|
|GAAP operating expenses||$||24,942||$||26,097||$||12,705||$||51,039||$||22,838|
|Impact of non-GAAP adjustments||(2,695||)||(4,838||)||(442||)||(7,533||)||(790||)|
|Non-GAAP operating expenses||$||22,247||$||21,259||$||12,263||$||43,506||$||22,048|
|GAAP operating loss||$||(21,826||)||$||(24,304||)||$||(14,213||)||$||(46,130||)||$||(25,696||)|
|Impact of non-GAAP adjustments||3,010||4,982||465||7,992||843|
|Non-GAAP operating loss||$||(18,816||)||$||(19,322||)||$||(13,748||)||$||(38,138||)||$||(24,853||)|
|Net loss and net loss per share:|
|GAAP net loss||$||(21,776||)||$||(24,281||)||$||(14,173||)||$||(46,057||)||$||(25,606||)|
|Total pre-tax impact of non-GAAP adjustments||3,010||4,982||465||7,992||843|
|Income tax impact of non-GAAP adjustments||-||-||-||-||-|
|Non-GAAP net loss||$||(18,766||)||$||(19,299||)||$||(13,708||)||$||(38,065||)||$||(24,763||)|
|Basic and Diluted net loss per share|
|Shares used in basic and diluted net loss per share computation||89,520||26,970||9,619||53,284||9,438|
|Free Cash Flow|
|GAAP net cash flow used in operating activities||$||(19,574||)||$||(16,061||)||$||(10,005||)||$||(35,635||)||$||(22,159||)|
|Purchase of property and equipment||(311||)||(656||)||(408||)||(967||)||(1,118||)|
|Free cash flow||$||(19,885||)||$||(16,717||)||$||(10,413||)||$||(36,602||)||$||(23,277||)|
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.
Aug. 2, 2015 05:45 PM EDT Reads: 505
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...
Aug. 2, 2015 11:15 AM EDT Reads: 353
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.
Aug. 1, 2015 10:00 AM EDT Reads: 334
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
Jul. 30, 2015 07:30 PM EDT Reads: 1,421
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Jul. 30, 2015 02:30 PM EDT Reads: 140
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
Jul. 30, 2015 12:00 PM EDT Reads: 2,077
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
Jul. 30, 2015 09:00 AM EDT Reads: 2,173
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Jul. 29, 2015 03:00 PM EDT Reads: 1,298
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
Jul. 29, 2015 02:00 PM EDT Reads: 1,204
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Jul. 28, 2015 04:30 PM EDT Reads: 1,776
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
Jul. 28, 2015 11:00 AM EDT Reads: 2,049
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Jul. 27, 2015 10:00 AM EDT Reads: 2,044
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Jul. 27, 2015 09:00 AM EDT Reads: 334
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
Jul. 27, 2015 08:00 AM EDT Reads: 1,910
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
Jul. 26, 2015 09:00 PM EDT Reads: 1,587
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 25, 2015 02:00 PM EDT Reads: 404
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Jul. 25, 2015 01:00 PM EDT Reads: 1,973
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
Jul. 25, 2015 12:15 PM EDT Reads: 486
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 25, 2015 12:00 PM EDT Reads: 1,553
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Jul. 25, 2015 09:00 AM EDT Reads: 1,502