Envivio jumps after Q2 beat

|By:, SA News Editor

Envivio (ENVI) shares jump 25% AH following the company's Q2 beat.

A new tier 1 US cable customer contributed 30.2% of revenue in Q2, an existing tier 1 US cable customer 18.9%, and an existing European tier 1 customer 13.4%.

Gross margin expanded to 84.3% from 61.7% in Q2 2012.

Opex declined to $10.26M (88.9% of revenue) from $10.71M (99.5%) in Q2 2012.

Separately, the company announced video quality and compression improvements to its Muse encoders. HEVC encoding resolutions up to 4K Ultra HD are supported by the new versions, and field trials by cable operators have begun. Envivio has also developed a solution for HEVC streaming to mobile devices and PCs in a joint venture with Korea's Pixtree.

Conference call scheduled for 5pm ET, PR