Business
CounterPath Reports Fourth Quarter and Fiscal 2019 Financial Results and Amends Loan Facility
Year-over-Year Recurring Revenue Growth of 26% VANCOUVER, BC / ACCESSWIRE...
About this update from Newpath Resources Inc
[{"type":"text","content":"CounterPath Reports Fourth Quarter and Fiscal 2019 Financial Results and Amends Loan FacilityYear-over-Year Recurring Revenue Growth of 26%VANCOUVER, BC / ACCESSWIRE / July 11, 2019 / CounterPath Corporation (NASDAQ: CPAH) (TSX: PATH) (the “Company” or “CounterPath”), a global provider of award-winning Unified Communications (UC) solutions for enterprises and service providers, today announced the financial and operating results for its fourth quarter and fiscal year ended April 30, 2019.Fourth Quarter Fiscal 2019 Financial Highlights\tQuarterly revenue of $2.8 million for the fourth quarter of fiscal 2019, compared to revenue of $2.8 million for the fourth quarter of fiscal 2018.\tSubscription, support and maintenance revenue (revenue of a recurring nature) for the fourth quarter of fiscal 2019 was $1.4 million or 50% of total sales, compared to $1.2 million or 43% of total sales for the fourth quarter of fiscal 2018.\tGross margin of 85% in the fourth quarter of fiscal 2019, compared to gross margin of 82% in the fourth quarter of fiscal 2018.\tNon-GAAP loss from operations of $0.9 million for the fourth quarter of fiscal 2019, compared to non-GAAP loss from operations of $1.7 million for the fourth quarter of fiscal 2018.\tNet loss of $0.9 million, or $0.15 per share for the fourth quarter of fiscal 2019, compared to net loss of $1.4 million, or $0.24 per share, for the fourth quarter of fiscal 2018.\tNon-GAAP net loss of $1.0 million, or $0.16 per share for the fourth quarter of fiscal 2019, compared to non-GAAP loss of $1.7 million, or $0.28 per share, for the fourth quarter of fiscal 2018. Fiscal 2019 Financial Highlights\tAnnual revenue of $10.8 million for fiscal 2019, a decrease of 13% compared to the $12.4 million in revenue for fiscal 2018.\tSubscription, support and maintenance revenue for fiscal 2019 grew by 26% to $5.4 million year-over-year, representing 50% of total sales for fiscal 2019 compared to $4.3 million or 35% of total sales for fiscal 2018.\tGross margin of 79% in fiscal 2019, compared to gross margin of 87% in fiscal 2018.\tNon-GAAP loss from operations of $4.7 million for fiscal 2019, compared to non-GAAP loss from operations of $2.2 million for fiscal 2018.\tNet loss of $5.0 million, or $0.84 per share for fiscal 2019, compared to $3.2 million, or $0.59 per share, for fisc...