Silver Spring Networks, Inc. Unveils the New Silver Spring IoT Edge Router
Nov 17 15
Silver Spring Networks, Inc. unveiled the new Silver Spring IoT Edge Router, expanding the capabilities of its globally proven Internet of Things networking platform. The IoT Edge Router enables cities and utilities to easily, securely, and cost-effectively integrate a wide array of devices and applications to their existing Silver Spring IoT networks. With the standards-based IoT Edge Router, network operators can simply ‘plug and play’ new and legacy smart city devices into these already deployed networks, such as smart street light and smart grid systems. The ability to cost-effectively integrate and transport data from these devices, such as smart parking stations, intelligent transportation systems, bicycle rental kiosks, EV charging stations, digital signage, environmental and lighting sensors, substation monitors, and more, helps cities and utilities reduce the costs of testing and deployment, improve civic service operations and citizen engagement, and create new revenue streams and innovation opportunities. The multi-application IoT Edge Router provides network operators with visibility, manageability, and at-the-edge insights on a single platform for connected devices. With the introduction of the new IoT Edge Router, customers will be able to benefit from new capabilities including: Multi-Protocol Support: whether IPv4 or IPv6, support will be available for a variety of protocols and network transports, including BLE, Wi-Fi and ZigBee, to ensure interoperability, simplicity of data exchange, and speed of deploying new devices. Edge Intelligence: The compute and mesh-based communications in the Linux-based IoT Edge Router allows devices to communicate with and control each other at the edge of the network, and provides a platform to test and develop next-generation smart city applications such as data analytics, real-time sensors, and dynamic lighting and traffic flow monitoring, among many others. Accelerating Innovation and Revenue: The IoT Edge Router provides a platform to develop new smart city applications. By leveraging the shared networking platform and the associated data collected across the network, administrators can realize richer insights into city operations across departments. This also unlocks new revenue-sharing opportunities by making the data available to application developers and partners, which in turn drives innovative new applications. These applications can be delivered by third-party developers, be developed in-house, or purchased from the SLV6 App Store, that Silver Spring Networks announced last month as part of its new SLV6 City Management Platform. Near-Limitless Extensibility: the ‘plug-and-play’ nature of the IoT Edge Router enables cities and utilities to easily extend their networks with almost no fixed limit to the number of devices and breadth of applications that can be supported. As network operators’ needs grow, the IoT Edge Router combined with Silver Spring’s flexible network architecture allows them to cost-effectively extend capabilities in an easy-to-manage fashion. The Silver Spring IoT Edge Router expands the capabilities of Silver Spring’s fifth generation networking platform – Gen5. The groundbreaking Gen5 networking platform raises the industry bar on what cities, utilities, and other network operators should expect from their IoT communications networks including a 4X increase in speed (up to 1.2 Mbps), a 3X reduction in latency (10 milliseconds), and a 3X increase in range (up to 50 miles). Silver Spring’s Gen5-based “Milli” Communications Module 5 removes many of the cost, power, and size limitations to reliable communications for small, battery-powered edge sensors, unlocking a new era of connectivity for smart cities and the Internet of Things. The “Milli” platform offers almost 2X more operational life and 5X more coverage at 1/5th the power consumption and is nearly 7X smaller than previous form factors, enabling the connection of historically cost-prohibitive or power-starved devices and sensors for up to 20-years in the field. This array of IoT sensors, devices, and data can be controlled, commanded, and monitored by Silver Spring’s management software, including the SLV6City Management Platform, which provides cities, utilities, and energy services companies with a complete solution to manage smart city devices and create more value from their existing networks. The SLV6 platform also includes a new developer program and App Store to empower device and software partners to create new smart city applications and widgets and give customers even more innovation and choice.
Silver Spring Networks, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Fourth Quarter of 2015; Revised Earnings Guidance for Fiscal 2015
Nov 3 15
Silver Spring Networks, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. The company reported net revenue of 69,505,000, operating loss of $394,000, loss before income taxes of $493,000, net loss of $622,000 or $0.01 per diluted share, non-GAAP net income of $4,916,000 or $0.10 per diluted share against net revenue of 28,041,000, operating loss of $37,420,000, loss before income taxes of $37,413,000, net loss of $37,273,000 or $0.07 per diluted share, non-GAAP net loss of $7,007,000 or $0.14 per diluted share a year ago. Net cash provided by operating activities was $4,272,000 against net cash used in operating activities of $15,734,000 a year ago. Adjusted EBITDA was $2,365,000 against $5,682,000 a year ago.
For the nine months, the company reported net revenue of 290,312,000, operating income of $17,208,000, income before income taxes of $17,471,000, net income of $18,108,000 or $0.35 per diluted share, non-GAAP net income of $341,000 or $0.01 per diluted share against net revenue of 113,877,000, operating loss of $89,263,000, loss before income taxes of $89,208,000, net loss of $89,671,000 or $0.1.86 per diluted share, non-GAAP net loss of $25,855,000 or $0.54 per diluted share a year ago. Net cash provided by operating activities was $13,430,000 against net cash used in operating activities of $22,389,000 a year ago.
For fourth quarter, the company expects revenue to range between $71 million to $76 million, gross margin of approximately 42% to 44%, operating expense of approximately $28 million to $29 million, approximately $800,000 in taxes, earnings per share of $0.03 to $0.08 and share count of approximately 52 million shares.
For the full year, 2015, the company expects revenue of $278 million to $283 million versus previous $275 million to $287 million; approximately 42% to 43% non-GAAP gross margins versus previous 41% to 42%; $115 million to $116 million in operating expense versus previous $117 million to $119 million; earnings per share of $0.03 to $0.08, up about $0.10 from previous guidance; and share count of approximately 52 million shares.
Silver Spring Networks, Inc. Introduces Utility Analytics Solution – Operations Optimizer
Oct 28 15
Silver Spring Networks, Inc. announced the availability of its new Operations Optimizer solution, a powerful analytics application that creates insights from a variety of data sources to improve operational efficiencies and program performance for utilities and cities. Operations Optimizer is the solution from Detectent, which was acquired by Silver Spring in January 2015. Operations Optimizer provides integration with any data repository, including the Silver Spring SilverLink Data Platform. Rich Insights Unlocked With the New Operations Optimizer Solution: Operations Optimizer is a powerful analytics solution that enables utilities and cities to improve operational efficiency and develop business processes and workflows by leveraging insights from a variety of internal and external data sources. The solution’s four distinct modules support a variety of immediate use cases and are also configurable to support future needs: AMI Operations: identifies and diagnoses meter data collection and delivery problems, monitors for meter safety issues, and manages AMI deployments. For example, AMI Operations can identify failed meters, hop count irregularities, unreachable meters, and high-temperature meter trends before they reach a critical state. Grid Operations: aggregates and analyzes metering loads across the distribution system in order to identify asset risks and connectivity mismatches, support load planning, and estimate technical losses. Revenue Assurance: protects against revenue leakage by identifying theft and other non-technical losses by analyzing feeder imbalances and identifying tampered or bypassed meters. Revenue Assurance also provides workflow, field investigation, and collection tracking capacities. Customer Programs: enables utilities to better plan, deliver, and measure demand-side management programs. Customer Programs includes smart meter disaggregation analytics that operate on hourly consumption to identify usage of major appliances at a premise in order to enhance customer segmentation and targeting.