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Netgem posts revenue drop in Q4, announces new financing for Vitis subsidiary

Thursday 23 January 2020 | 17:08 CET | News
Netgem reported fourth-quarter revenue of EUR 6.4 million, down 41 percent year-on-year. The ongoing contraction reflects the company's shift towards a business model based on multi-screen managed services for connected devices. Netgem noted that equipment supplied to customers (STBs and connected sound bars) had become optional and said that, for this reason, net revenue (gross sales minus cost of hardware sold) was a better performance indicator. In the fourth quarter, net revenue amounted to EUR 3.6 million, representing a 23 percent decline year-on-year and a 12 percent increase

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Categories: Broadcast & Satellite / Internet
Companies: Netgem / Vitis
Countries: Europe / France
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