Bsquare CEO Brian Crowley said Tuesday that he was disappointed with the company’s second quarter performance, noting that revenue fell 11 percent and net loss grew to $805,000. But he also said that recent changes now taking place at the company are starting to take root.
“During the quarter we completed the transition of our North America Solutions sales force and our new sales team has been on board since May. We hired individuals with direct experience in our industry and we are working to get everyone productive as quickly as possible,” he said in an earnings release. “Our product revenue is still dominated by a few large opportunities and the timing of opportunities can impact our results as they did this quarter. This demonstrates the need to further build our product pipeline in order to deliver consistently growing results and we have programs underway designed to accomplish this.”
Bsquare, which helps mobile device makers test equipment, expects revenue of $22 million to $24 million in the third quarter. It also expects its cash position to drop by about $1 million.
Full earnings release here.
