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Free Post Earnings Research Report: CounterPath’s Revenue Surged 24%; Turned Profitable Y-O-Y

LONDON, UK / ACCESSWIRE / January 10, 2018 / Active-Investors.com has just released a free earnings report on CounterPath Corp. (NASDAQ: CPAH). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CPAH. The global provider of award-winning over-the-top (OTT) Unified Communications solutions for enterprises and carriers reported its second quarter fiscal 2018 operating results on December 13, 2017. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, CounterPath most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=CPAH

Earnings Highlights and Summary

For the quarter ended October 31, 2017, CounterPath's revenue was $3.4 million compared to $2.8 million for Q2 FY17, reflecting an increase of 24% on a y-o-y basis, and an increase of 10% over the $3.1 million recorded for Q1 FY18.

During Q2 FY18, CounterPath's Software revenue surged 50% to $1.8 million compared to $1.2 million for Q2 FY17. The Company's Subscription, Support, and Maintenance revenue was $1.0 million in the reported quarter compared to $1.0 million for the year earlier same quarter. CounterPath's Professional services and other revenue was $0.6 million in Q2 FY18 compared to $0.6 million for Q2 FY17.

CounterPath's operating expenses were $3.5 million for the second quarter of the fiscal year 2018 compared to $3.5 million for Q2 FY17. The Company's operating expenses included a non-cash stock-based compensation expense of $0.1 million for the reported quarter. CounterPath's sales and marketing expenses were $1.0 million for Q2 FY18 compared to $1.0 million for Q2 FY17.

For the quarter ended October 31, 2017, CounterPath posted research and development (R&D) expenses of $1.3 million, and general and administrative (G&A) expenses of $0.7 million, compared to $1.2 million and $0.9 million, respectively, for Q2 FY17.

During Q2 FY18, CounterPath recorded a gross margin of 89% compared to 83% for Q2 FY17. CounterPath's non-GAAP income from operations was $0.1 million in Q2 FY18, compared to a non-GAAP loss from operations of $0.5 million for Q2 FY17.

CounterPath's foreign exchange gain totaled $0.2 million for Q2 FY18 compared to $0.2 million for Q2 FY17. The foreign exchange gain/(loss) represents the gain/(loss) on account of translation of the intercompany accounts of CounterPath's subsidiary which are maintained in Canadian dollars, and transactional gains and losses resulting from transactions denominated in currencies other than US dollars.

CounterPath reported a net income of $0.2 million, or $0.03 per share, for Q2 FY18 compared to a net loss of $0.6 million, or $0.12 per share, for Q2 FY17. The Company's earnings, adjusted for non-recurring gains, were $0.01 per share.

Cash Matters

As of October 31, 2017, the Company had $1.7 million in cash compared to $2.1 million as of April 30, 2017. The Company's total current assets were $5.67 billion compared to total current liabilities of $4.35 billion as on October 31, 2017.

Stock Performance Snapshot

January 09, 2018 - At Tuesday's closing bell, CounterPath's stock climbed 7.93%, ending the trading session at $4.63.

Volume traded for the day: 192.14 thousand shares, which was above the 3-month average volume of 191.08 thousand shares.

Stock performance in the last month – up 102.63%; previous three-month period – up 78.61%; past twelve-month period – up 149.60%; and year-to-date – up 44.24%

After yesterday's close, CounterPath's market cap was at $23.43 million.

The stock is part of the Technology sector, categorized under the Application Software industry.

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SOURCE: Active-Investors