Hillside, New Jersey – (The Hosting News) – January 21, 2008 – Managed services provider, Glowpoint, Inc., has reported a 20% increase in monthly subscriptions, for its highest revenue in the fourth quarter of 2007, compared to the same period in 2006.
Mike Brandofino, President and CEO of Glowpoint noted, ”This marks the sixth consecutive quarter Glowpoint has grown its core subscription revenue and the largest year-over-year increase in our history. We have been clear that we are focused on accelerating growth with high-margin, recurring revenue, which should result in sustainable profitability in the near term. We view growth in our core business combined with the expansion of our multipoint conferencing revenue as a key metric from which to gauge the adoption and demand of our services. For 2008, our focus remains on growing revenue from these key services along with increasing our emphasis on our VNOC services, which are directly addressing a critical need in the emerging telepresence market.”
Glowpoint’s two primary components of revenue are subscription and multi-point conferencing. Today’s news follows Glowpoint’s recent announcement that its multi-point conference revenue grew over 24% in the fourth quarter of 2007 compared to 2006. The Company anticipates reporting that overall revenue will exceed $22.7 million for 2007, which represents the highest year-over-year total revenue growth achieved to date.
Subscription services revenue is a monthly recurring revenue stream tied to contracts signed with customers for managed IP video services. More than 50% of the Company’s contracts signed during 2007 were multi-year contracts, including one four-year deal, which helps set the stage for more sustainable and predictable growth.
Mr. Brandofino added, ”A large factor in our growth in 2007 was the significant improvement in productivity from our channel partners who were responsible for over 40% of our new closed deals in 2007. We expect the recent expansion of our sales team and continued focus on increasing productivity from our channel partners to be the keys to accelerating growth in 2008.”
Glowpoint offers a full suite of managed video services, including a managed network, Telepresence VNOC services, meeting and collaboration services that include managed and on-demand multi-point video and audio conferencing, web collaboration via Glowpoint’s branded WebDialog solution, Digital recording, Internet streaming services and Broadcast event support and planning services. Glowpoint supports Standard Definition (SD) and High Definition (HD) as well as all the major Telepresence solutions. Glowpoint also offers interpretation services for over 100 languages that can be added to any video conference.
Glowpoint, Inc. is a premiere, broadcast-quality, IP-based managed-video services provider. Glowpoint offers video conferencing, bridging, technology hosting, and IP-broadcasting services to a vast array of companies, from large Fortune 100 enterprises to small and medium-sized businesses. Glowpoint’s managed-video services are available bundled with Glowpoint’s quality-network offering or as a value-added managed-video service across other networks. Glowpoint is exclusively focused on high-quality, two-way video communications, and has been supporting millions of video calls since its launch in 2000. Glowpoint is headquartered in Hillside, New Jersey.
To learn more about Glowpoint, please visit: www.glowpoint.com.