Telenav, Inc. Presents at 35th Annual Canaccord Genuity Growth Conference, Aug-12-2015 08:30 AM
Aug 10 15
Telenav, Inc. Presents at 35th Annual Canaccord Genuity Growth Conference, Aug-12-2015 08:30 AM. Venue: InterContinental Boston, 510 Atlantic Avenue, Boston, MA 02210, United States.
Telenav, Inc. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Fiscal Year Ended June 30, 2015; Provides Earnings Guidance for the First Quarter Ending September 30, 2015
Jul 30 15
Telenav, Inc. announced unaudited consolidated financial results for the fourth quarter and fiscal year ended June 30, 2015. For the fourth quarter of fiscal year 2015, revenue was $43.2 million, compared with $42.3 million in the third quarter of fiscal year 2015 and $34.4 million in the fourth quarter of fiscal year 2014. GAAP net loss was $7.6 million, or $0.19 per diluted share, compared with a GAAP net loss of $4.8 million, or $0.12 per diluted share, in the third quarter of fiscal year 2015 and a GAAP net loss of $18.0 million, or $0.46 per diluted share, for the fourth quarter of fiscal year 2014. Negative adjusted EBITDA was $5.5 million adjusted for the impact of stock-based compensation expense, depreciation, amortization, interest income, other income (expense), (benefit) provision for income taxes, and other items such as restructuring costs, compared with a $4.7 million in the third quarter of fiscal year 2015 and $7.4 million in the fourth quarter of fiscal year 2014. Loss from operations was $9,701,000 compared to $16,132,000 a year ago. Loss from continuing operations before provision for income taxes was $10,507,000 compared to $15,903,000 a year ago. Non-GAAP net loss was $4,844,000 or $0.12 per diluted share compared to $4,666,000 or $0.12 per diluted share a year ago.
Revenue for fiscal year 2015 was $160.2 million, compared with $150.3 million in fiscal year 2014. GAAP net loss for fiscal year 2015 was $23.1 million, or $0.58 per diluted share, compared with $29.5 million, or $0.76 per diluted share, for fiscal year 2014. For fiscal year 2015, negative adjusted EBITDA was $20.5 million compared with $12.1 million for fiscal year 2014. Net cash used in operating activities was $7,696,000 compared to $22,553,000 a year ago. Purchase of property and equipment was $1,208,000 compared to $1,053,000 a year ago. Loss from operations was $38,336,000 compared to $34,827,000 a year ago. Loss from continuing operations before provision for income taxes was $36,069,000 compared to $33,539,000 a year ago. Non-GAAP net loss was $12,889,000 or $0.32 per diluted share compared to $6,839,000 or $0.18 per diluted share a year ago.
For the first quarter ending September 30, 2015, total revenue is expected to be $44 to $46 million; GAAP gross margin is expected to be approximately 45%; non-GAAP gross margin is expected to be approximately 46.5%, and represents GAAP gross margin adjusted for the add back of the amortization of capitalized software and developed technology of approximately $700,000; GAAP net loss is expected to be $11 to $12 million; GAAP diluted net loss per share is expected to be $0.27 to $0.29; Non-GAAP net loss is expected to be $7 to $8 million, and represents GAAP net loss adjusted for the add back of the tax-effected impact of approximately $3.5 million of stock-based compensation expense, and approximately $700,000 of capitalized software and developed technology amortization expenses; Non-GAAP diluted net loss per share is expected to be $0.17 to $0.19 and represents GAAP net loss per share adjusted for the add back of the tax effected impact of approximately $3.5 million of stock-based compensation expense, and approximately $700,000 of capitalized software and developed technology amortization expenses; negative adjusted EBITDA is expected to be $7 to $8 million, and represents GAAP net loss adjusted for the impact of approximately $3.5 million of stock-based compensation expense, and approximately $1 million of depreciation and amortization expenses, interest income, other income (expense), and benefit from income taxes.
Toyota Chooses Telenav, Inc.'s Scout GPS Link and Uievolution's Uiengine Link for Select 2016 Vehicles
Jul 30 15
Telenav, Inc., UIEvolution, Inc. and Toyota announced that Scout GPS Link by Telenav and UIEngine Link by UIEvolution will be available in the 2016 Toyota Tacoma, as well as other 2016 Toyota vehicles in the United States equipped with Entune Audio Plus. Powered by your phone and designed for your car, Scout GPS Link is a brought-in navigation solution truly optimized and tailored for the in-vehicle experience. Part of the Scout family of apps by Telenav, Scout GPS Link allows users easily to transfer the information displayed on their mobile device outside the car to the multimedia display inside their car. This not only helps provide an optimized and safe experience with larger buttons and easier-to-read navigation while driving, but it also includes one-touch controls and voice recognition. The connectivity between phone and vehicle is provided by UIEvolution's UIEngine Link, which allows drivers to securely access real-time data and services like navigation and traffic, that Scout GPS Link provides, using their mobile device. Scout GPS Link will soon be available for Toyota owners for both iPhone and Android mobile phones as a free download with a complimentary subscription from the Apple App Store and Google Play. Drivers also can use the app connected to the vehicle head unit free of charge. Scout GPS Link features that will be available in upcoming 2016 Toyota vehicles include: Seamless usage between phone and car: Scout GPS Link is fully functional outside the car with the mobile app and automatically transfers the experience to the car for a full navigation experience enabled by UIEngine Link. No retyping necessary: Scout GPS Link automatically transfers search results, navigation routes and drivers' favorite locations and recent destinations from the phone to the car. Fast and easy: Drivers can get on the road faster with one tap from the Scout GPS Link home screen on the multimedia system. Enhanced search capabilities: Drivers can find the best places to eat and shop, get gas, and more, with intelligent conversational search commands and one-touch popular search categories. Voice activation: Hands-free voice commands allow users to keep their hands on the wheel and eyes on the road. Easy-to-follow directions: Users receive voice-guided navigation with driver-friendly turn-by-turn views, displaying the most relevant information, including upcoming maneuvers. Multitasking without disruption: Drivers can use other multimedia functions, such as taking phone calls or listening to music, without disrupting navigation while keeping eyes on the road and hands on the wheel.