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Wireless

iPass sees brighter future with multimillion license deal after lower Q1

Wednesday 9 May 2018 | 09:58 CET | News
Wi-Fi network operator iPass said first quarter revenues fell to USD 11.4 million from 14.3 million the year before, with slower-than-expected results at Ver-Fi due to concerns about GDPR from 25 May. CEO Gary Griffiths announced a multimillion dollar license deal for the iPass SmartConnect software, saying the deal will provide cash and bolster the balance sheet. The company significantly reduced costs in the quarter, which means it was able to lower its quarterly break-even revenue point to less than USD 15 million. With the cash from the new deal, Griffiths said the company will have

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Categories: Mobile & Wireless / Mobile & Wireless
Companies: iPass
Countries: World
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