AvantGo Reports Record Revenue

Posted By: Ed Wednesday, January 31, 2001 2:02:59 PM

AvantGo, Inc. reported financial results for its fourth quarter and revenues were $6.6 million, representing a 526% increase from the same quarter last year, and a 42% increase over the third quarter of 2000. Revenues for the year were $16.3 million, a 465% increase from $2.9 million for the previous year.

"Based upon the strong sales trends the Company experienced in the fourth quarter of 2000, we project that revenue will grow by over 100% in 2001," said David Cooper, AvantGo's chief financial officer. "We have revised our projections and anticipate reaching profitability two quarters earlier than previously planned, and without any additional funding.''

The company still lost money, though. The net loss, before non-cash charges, was $10.6 million versus $10.9 million in the third quarter of 2000. Pro forma net loss per share before non-cash charges was $0.35 for the quarter compared with a loss of $0.47 per share in the third quarter of 2000.

AvantGo ended the fourth quarter with $73.5 million in cash and investments. The Company has 342 employees and plans to continue building its expertise in research and development and its sales capacity.

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AvantGo Could Still Go Under

Ed @ 1/31/2001 2:34:27 PM #
I know most of you probably don't care how AvantGo is doing financially but I think the company's health is important to the Palm platform's continued success.


This is probably because AvantGo is the second most frequently used app on my Palm, after MultiMail. I get a cold chill when I consider losing access to The Onion or ZDnet from where ever I go.


Discovering AvantGo was one of the best parts of the early days of using my Palm. It is what converted my IIIx from something that I took with me to work to something I took with me everywhere.


I have to think that there are plenty more people like me out there who are newsaholics and use AvantGo every day. If so, you should care deeply about the financial health of the company, too. Remember, it is an essentially server-based app. If the company goes under, the offline browsing stops. That would be a black day for me. Maybe for you too.


Possibly someone would come along to fill in the gap, but they'd have to start all over again building up their content. So AvantGo, at least one person out here is rooting for you.

---
Plenipotentiary
Palm Infocenter

RE: AvantGo Could Still Go Under
I.M. Anonymous @ 1/31/2001 5:00:31 PM #
While that would be unfortunate, there already ARE alternatives - such as Sitescooper + iSilo.

Sitescooper can grab a website and format it for your palm device, and you can specify how much of the site you want (1 pg, 2 pages deep, 3 levels, etc), whether you want images or not, where the important text starts (very handy for sites that aren't simplified for AvantGo), etc. Sitescooper will automatically make a Plucker, iSilo, or regular Doc file, too.

The biggest benefit to Sitescooper, besides its open-source nature, is that it will run at a set time, and have a PRC file ready to hotsync, rather than tie up so much time connecting and downloading the files from AvantGo.

So, check out sitescooper.org. Cool alternative.

RE: AvantGo Could Still Go Under
I.M. Anonymous @ 1/31/2001 5:02:49 PM #
I completely agree! I was thinking on the metro the other day while reading stuff on AG how bad it would be if they went under. I know I would personally pay $2.00 a month for the service. If say, half of their 1.3 million users agreed to that small charge, that would be $1,300,000 a month they could collect in revenue. Not too shabby if you ask me. Of course I like getting it for free, just like I like getting Napster for free, but if it is between losing it all together and paying a minimal fee for usage of a product that is as exceptional as AG or Napster, I'll pay the fee.

RE: AvantGo Could Still Go Under
fleegle @ 1/31/2001 8:16:27 PM #
I was one of the few people that actually *paid* for AvantGo when it first came out. I was so impressed by what they could do at the time I had to have it. Unfortunately, they made it free a short time later. :(

I use it everyday and love it. I hope they don't ever go under but it is nice to know there are other alternatives.

Go Avantgo

Queen Of Swords @ 1/31/2001 8:17:45 PM #
Avantgo is brilliant, probably what inspired my upgrade from a iiie to a iiic :) It's *the* killer app. A bit more .au content wouldn't hurt, but I'd be very sorry to see it go. I'd pay a small subscription fee, even with the crap exchange rate.

Me Too

I.M. Anonymous @ 2/1/2001 8:15:20 AM #
I too would be willing to pay a small subscription fee if it was the difference between keeping or loosing AG.

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