Evolving Systems Inc (OQ:EVOL)

Sector:  Technology Industry:  Software
See Regulatory Filings on SEC
Company Contact
Address: 9800 Pyramid Ct Ste 400
ENGLEWOOD CO 80112-2669
Tel: 1-303-3937044
Website: https://www.evolving.com
IR: See website
Key People
Matthew Stecker
Chairman of the Board, President, Chief Executive Officer
Mark Szynkowski
Senior Vice President - Finance
Richard Lewis
Senior Vice President - Worldwide Sales
Business Overview
Evolving Systems, Inc. is a provider of software solutions for service enablement, on-device activation and management of services for connected devices for network operators. The Company operates in two segments: license fees and services revenue, and customer support revenue. Its service activation solution, Tertio is used to activate voice, video and data services for wireless, wireline and cable network operators. Its Subscriber Identity Module (SIM) card activation solution, Dynamic SIM Allocation is used to allocate and assign resources to Mobile Network Operators devices that rely on SIM cards. Its Mobile Data Enablement solution provides a data consumption and policy management solution for wireless carriers and Mobile Virtual Network Operators that monitor the usage and consumption of data services. Its Total Number Management product is an automated database solution that enables operators to manage their telephone numbers, as well as other communication identifiers.
Financial Overview
For the three months ended 31 March 2020, Evolving Systems Inc revenues decreased 6% to $6.3M. Net loss decreased 97% to $32K. Revenues reflect Licensing fees segment decrease of 71% to $207K, Services segment decrease of 1% to $1.6M, United Kingdom segment decrease of 13% to $1.2M. Lower net loss reflects Foreign currency exchange gain (loss) increase from $261K (expense) to $383K (income).
Employees: 261 as of Dec 31, 2019
Reporting Currency: U.S. Dollars
Enterprise value: $13.09M as of Mar 31, 2020
Annual revenue (TTM): $25.34M as of Mar 31, 2020
EBITDA (TTM): $0.44M as of Mar 31, 2020
Net annual income (TTM): -$8.61M as of Mar 31, 2020
Free cash flow (TTM): $0.78M as of Mar 31, 2020
Net Debt Last Fiscal Year: N/A
Shares outstanding: 12,194,502 as of May 12, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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