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Elephant Talk Communications Reports Third Quarter 2012 Financial Results

Mobile and Security Business - Fifth Consecutive Quarter of Q/Q Revenue Growth, up 109% Y/Y

SCHIPHOL, The Netherlands, Nov. 8, 2012 /PRNewswire/ -- Elephant Talk Communications, Corp. (NYSE MKT: ETAK) formerly (NYSE Amex: ETAK) (www.elephanttalk.com), an international provider of software and services developed to manage network, billing and systems infrastructure for the telecommunication industry and a market leader in providing solutions to counter electronic fraud for the financial services industry, today announced total revenue of $6.7 million for the third quarter ended September 30, 2012.

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In the third quarter of 2012, revenue for the higher margin mobile and security solutions business increased 108.5% year-over-year to over $2.9 million, 43.8% of total company revenue, from revenue of $1.4 million, 18.1%, for the third quarter of 2011.


Mobile and Security

Quarter

Reported Revenue

($ in millions)

% of Total

Company Revenue

Q211

0.9

12.2

Q311

1.4

18.1

Q411

1.9

23.5

Q112

2.4

28.3

Q212

2.8

39.3

Q312

2.9

43.8

"We are pleased with our third quarter results," stated Steven van der Velden, CEO of Elephant Talk Communication. "We more than doubled our higher margin mobile and security solutions business on a year-over-year basis in the third quarter while remaining focused on controlling cash. We ended 3Q12 with an unrestricted cash balance of $4.3 million, an increase from the end of 2Q12. We continue to expect to achieve our first month of positive operational cash flow in early 2013."

Key Recent Company Highlights

  • ValidSoft Awarded a Contract with Leading US Financial Institution for its core OOB (Out of Band) Authentication and Transaction Verification solution, VALid®.
  • Elephant Talk Awarded Multi-Year Contract with Global Leader in Mobile Telecommunications. This contract expands operations in two new European countries as well as grows our operations in a current country.  It is expected to add several million subscribers to the Company's mobile platforms during the life of the agreement.
  • ValidSoft has Processed Over 5 Million Transactions with a Leading Global Financial Institution that is using our unique SIM Swap solution.
  • ValidSoft Awarded 3rd Privacy Seal. The only security software company in the world to achieve three EuroPriSe Privacy Seals.  Latest seal is associated with the Company's SIM-swap fraud prevention solution, VALid-SSD.
  • ValidSoft Showcased SMART at Finovate Fall, NYC. ValidSoft successfully went through a selection process to participate in the Finovate Fall conference held in New York.  At the conference, the Company performed a live demo showcasing how to securely initialize a mobile based banking application as well as secure a P2P transaction http://www.finovate.com/fall12vid/validsoft.html.

Financial results for the three and nine months ended September 30, 2012

Elephant Talk's business is primarily Euro-based.  The effects of the devaluation of the Euro against the US Dollar have been substantial on the 2012 financials. To determine the constant currency (a non-GAAP measure) revenue growth rates stated below, the year-to-year comparison is calculated by using the average exchange rates over the nine months ended September 30, 2012. These same exchange rates are then used in the income statement of the nine months ended September 30, 2011.

Revenue for the three months ended September 30, 2012, as reported

  • Total revenue was $6.7 million, a decrease of 14.1%, year-over-year, compared to $7.8 million for the three months ending September 30, 2011.
  • The higher margin mobile and security revenue increased 108.5% year-over-year to $2.9 million.
  • In accordance with our strategy to reduce the emphasis on this business, the lower margin legacy landline revenue declined 41.1% year-over-year to $3.8 million

Revenue for the three months ended September 30, 2012, constant currency

  • Total revenue decreased $0.2 million, or (2.5)%, year-over-year when compared to the same period in 2011.
  • On a year-over-over year basis, mobile and security revenue increased 141.3% while landline revenue declined 33.5%.

Revenue for the nine months ended September 30, 2012, as reported

  • Total revenue of $22.4 million decreased 7.2% year-over-year versus $24.1 million for the nine months ending September 30, 2011.
  • A 110.6% year-over-year increase in mobile and security revenue to $8.1 million was fully offset by a 29.7% year-over-year decline in the legacy landline business to $14.2 million.

Revenue for the nine months ended September 30, 2012, constant currency

  • Total revenue increased $0.4 million, or 1.8%, year-over-year when compared to the same period in 2011.
  • On a year-over-over-year basis, mobile and security revenue rose 131.2%, mostly driven by the increased subscriber base hosted on the Company's platforms.
  • The increase in mobile and security revenue was largely offset by the expected continued decline in the Company's lower margin legacy landline business which posted a year-over-year decline of 22.9%. 

Cost of Service

  • Cost of service for the third quarter was $4.6 million, a decrease of 34.2% year-over-year, versus $7.0 million for the three months ending September 30, 2011.
  • Cost of service for the nine months ended September 30, 2012 was $16.7 million, a 24.4% year-over-year decline, versus $22.0 million for the nine months ended September 30, 2011. This decrease is related to the decline in landline revenue.

Revenues minus Cost of Service (further referred to as 'margin')

  • Margin for the third quarter increased 161.8% year-over-year to $2.1 million, approximately 31.3% of revenue, from $0.8 million, 10.3%, for the three months ending September 30, 2011.
  • Margin for the nine months ended September 30, 2012 increased 177.8% year-over-year to $5.7 million, approximately 25.4% of revenue, from $2.0 million, 8.5%, for the nine months ending September 30, 2011.
  • The increase in margin for the three and nine months ended September 30, 2012 was primarily attributable to the increased revenue contribution from the higher-margin mobile and security solution business.

Total Margin*

Quarter

Margin

($ in millions)

% of Total

Company Revenue

Q211

0.3

3.8

Q311

0.8

10.3

Q411

1.5

18.0

Q112

1.7

19.7

Q212

1.9

26.8

Q312

2.1

31.3

* Revenues minus Cost of Service

Selling, general and administrative

  • Selling, general and administrative ("SG&A") expense for the three months ended September 30, 2012 and 2011 were $4.2 million and $4.3 million, respectively.
  • SG&A expenses for the nine months ended September 30, 2012 and 2011 were $13.4 million and $11.6 million, respectively. The 15.5% year-over-year increase was mainly due to the 18.6% year-over-year increase in staffing levels, largely European MNO operational support and commercial staff as well as higher investor relations and sales, marketing & communication related staffing and expense.

Adjusted EBITDA (a non-GAAP measure)

  • Adjusted EBITDA improved to a loss of $2.1 million for the third quarter from a loss of $3.5 million for the same period a year earlier.
  • Adjusted EBITDA improved to a loss of $7.7 million in the nine months ending September 30, 2012 from a loss of $9.5 million in the nine months ended September 30, 2011.

Net Income (loss)

  • Net Loss was $5.5 million and $7.3 million for the three months ended September 30, 2012 and 2011, respectively. A decrease of 24.7% year-over-year.
  • Net Loss for the nine months ended September 30, 2012 was $16.5 million, compared to $18.7 million for the nine months ended September 30, 2011, a decrease of 11.9%, year-over-year.
  • Loss from operations was reduced because of increased revenues from our higher margin mobile and security business combined with a reduced non-cash compensation expenses.

The tables at the end of this press release include a reconciliation of net loss to non-GAAP Adjusted EBITDA and reported to constant currency revenue results for the three and nine months ended September 30, 2012 and 2011. An explanation of these along with margin are included below under the heading "Non-GAAP Financial Measures."

Conference call reminder
As a reminder, Elephant Talk Communications will host a Shareholder Update Conference Call on November 8, 2012 at 11:00 a.m. (EST). Anyone interested in participating should dial 1- 480-629-9713 approximately 5 to 10 minutes prior to the start of the call. Participants should ask for the Elephant Talk Shareholder Update conference call. To listen to the playback please utilize the webcast by visiting the company's website at www.elephanttalk.com.

This call is being webcast by ViaVid Broadcasting and can be accessed at either Elephant Talk's website at www.elephanttalk.com or ViaVid's website at http://www.viavid.net. To access the webcast, you will need to have the Windows Media Player on your desktop. For the free download of the Media Player, please visit: http://www.microsoft.com/windows/windowsmedia/en/download/default.asp

Non-GAAP financial measures
To supplement the consolidated financial statements presented in accordance with generally accepted accounting principles, or GAAP, Elephant Talk uses measures of non-GAAP Adjusted EBITDA, constant currency and margin. A reconciliation of the non-GAAP financial measures Adjusted EBITDA and constant currency to the closest GAAP financial measure, is presented in the financial table below under the heading "Reconciliation of Non-GAAP Measures to GAAP." Margin is derived from the income statements by subtracting cost of service from revenues. These adjustments to the Company's GAAP results are made with the intent of providing both management and investors a more complete understanding of the Company's underlying operational results and trends and performance.

Management uses these non-GAAP measures to evaluate the Company's financial results, develop budgets, manage expenditures, and determine employee compensation. The presentation of additional information is not meant to be considered in isolation or as a substitute for or superior to net income (loss) or net income (loss) per share determined in accordance with GAAP.

For the three and nine months ended September 30, 2012 and 2011, non-GAAP Adjusted EBITDA is defined as earnings before derivative accounting, such as warrant liabilities and conversion feature expensing, income taxes, depreciation and amortization and stock-based compensation.  It is determined by taking net loss and adding back provision for income taxes, interest income and expense, net loss attributable to non-controlling interest, depreciation and amortization, stock-based compensation expense, other income and expenses, and equity in earnings of unconsolidated joint venture.

Elephant Talk believes these adjustments provide useful information to both management and investors due to the following factors:

  • Stock-based compensation. Although stock-based compensation is an important aspect of the compensation of Elephant Talk's employees and executives, determining the fair value of the stock-based instruments involves a high degree of judgment and estimation and the expense recorded may bear little resemblance to the actual value realized upon the future exercise or termination of the related stock-based awards. Furthermore, unlike cash compensation, the value of stock-based compensation is determined using a complex formula that incorporates factors, such as market volatility, that are beyond Elephant Talk's control. Management believes it is useful to exclude stock-based compensation in order to better understand the long-term performance of Elephant Talk's core business and to facilitate comparison of its results to those of peer companies.

To determine the revenue growth rates on a constant currency basis for the three and nine months ended September 30, 2012, revenue from entities reporting in non-U.S. dollars were translated into U.S. dollars using the average exchange rates over the nine months ended September 30, 2012. These same exchange rates are then used in the income statement of the nine months ended September 30, 2011. The following table shows the USD equivalent of the major currencies for the nine months ended September 30, 2012:



US Dollars



equivalent

Euro


$

1.2812

British Pound


$

1.5775

About Elephant Talk Communications
Elephant Talk Communications Corp. (NYSE MKT: ETAK), formerly (NYSE Amex: ETAK) is a leading international provider of mobile networking software and services. The Company's mission is to provide a single service, fully enabling and securing the mobile cloud.

Elephant Talk empowers Mobile Network Operators (MNOs) and Mobile Virtual Network Operators (MVNOs) by providing a cloud based mobile communications infrastructure, operating software and managed services, based mostly on company developed and owned software. We enable these Mobile Operators and Virtual Network Operators by offering a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investment.

As a specialized outsourcing partner, we provide operating software, managed services, cloud and SaaS solutions, an integrated transaction and delivery platform to the mobile telecommunications industry globally. Our products include remote health care, credit card fraud prevention, mobile internet ID security, secure remote file access management, loyalty and transaction management services and a whole range of other emerging mobile services.

Elephant Talk can count several of the world's leading Mobile Operators amongst their customers including Vodafone, T-Mobile and Zain, and most business efforts are focused on tier 1 operators worldwide. Visit www.elephanttalk.com.

About ValidSoft
ValidSoft Limited has been a wholly owned subsidiary of Elephant Talk since early 2010 and underpins our mobile/cloud security offering. The company is a market leader in providing solutions to counter electronic fraud relating to a variety of bank, card, internet and telephone channels. ValidSoft's solutions are used to verify the authenticity of both parties to a transaction (Mutual Authentication), the security of the relevant telecommunication channel used (Secure Communications), and the integrity of transactions itself (Transaction Verification) for the mass market, in a highly cost effective and secure manner while being very easy to use.

The company counts several leading worldwide service providers and institutions amongst its customers.  These companies benefit from a very substantial reduction in false positives, thereby freeing up resources to combat actual fraud, as well as a substantial elimination of the fraud itself, all in real time. ValidSoft is the only security software company in the world that has been granted two European Privacy Seals. Visit www.validsoft.com.

Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company's filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained upon request from the Company.

 

ELEPHANT TALK COMMUNICATIONS CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS

(UNAUDITED)






For the three months


For the nine months


Period ended September 30,


Period ended September 30,



2012



2011



2012



2011

REVENUES

$

6,699,381


$

7,796,936


$

22,365,318


$

24,095,926













COST AND OPERATING EXPENSES












Cost of service


4,603,588



6,996,525



16,677,853



22,048,689

Selling, general and administrative expenses


4,221,767



4,325,272



13,356,906



11,566,385

Non-cash compensation to officers, directors and employees


1,709,403



2,432,317



4,940,131



5,600,283

Depreciation and amortization of intangibles assets


1,263,137



1,353,450



3,766,494



3,993,900

  Total cost and operating expenses


11,797,895



15,107,564



38,741,384



43,209,257













LOSS FROM OPERATIONS


(5,098,514)



(7,310,628)



(16,376,066)



(19,113,331)













OTHER INCOME (EXPENSE)












Interest income


(85,364)



74,988



194,554



122,119

Interest expense, amortization of discount and financing costs


(649,251)



(35,467)



(1,588,098)



(173,742)

Other income & (expense)


-



-



-



460,000

Change in fair value of conversion feature


617,603



-



1,847,689



-

     Total other income (expense)


(117,012)



39,521



454,145



408,377













LOSS BEFORE PROVISION FOR INCOME TAXES


(5,215,526)



(7,271,107)



(15,921,921)



(18,704,954)

Provision for income taxes


(94,887)



-



(192,175)



(800)

NET LOSS BEFORE NONCONTROLLING INTEREST


(5,310,413)



(7,271,107)



(16,114,096)



(18,705,754)

Net (loss) income attributable to non-controlling interest


-



-



-



-

Equity in earnings of unconsolidated joint venture


(164,252)






(356,667)




NET LOSS


(5,474,665)



(7,271,107)



(16,470,763)



(18,705,754)













OTHER COMPREHENSIVE (LOSS) INCOME












Foreign currency translation gain (loss)


594,468



(2,325,642)



(315,226)



931,961



594,468



(2,325,642)



(315,226)



931,961













COMPREHENSIVE LOSS

$

(4,880,197)


$

(9,596,749)


$

(16,785,989)


$

(17,773,793)













Net loss per common share and equivalents - basic and diluted

$

(0.05)


$

(0.07)


$

(0.15)


$

(0.18)













Weighted average shares outstanding during the period - basic and diluted


111,558,485



107,842,911



111,129,222



101,492,507

 

ELEPHANT TALK COMMUNICATIONS CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS









September 30,



December 31,



2012



2011







ASSETS










CURRENT ASSETS












Cash and cash equivalents

$

4,344,438


$

6,009,576

Restricted cash


1,789,207



190,844

Accounts receivable, net of an allowance for doubtful accounts of $745,735 and $436,546 at September 30, 2012 and December 31, 2011 respectively


4,378,162



6,441,528

Prepaid expenses and other current assets


1,662,776



1,522,461

   Total current assets


12,174,583



14,164,409







OTHER ASSETS


1,844,398



1,392,837







DUE FROM RELATED PARTIES


1,042,931



-







PROPERTY AND EQUIPMENT, NET


13,395,076



13,315,687







INTANGIBLE ASSETS, NET


10,971,247



12,784,199







GOODWILL


3,132,528



3,154,971







TOTAL ASSETS

$

42,560,763


$

44,812,103







LIABILITIES AND STOCKHOLDERS' EQUITY










CURRENT LIABILITIES






Overdraft

$

340,135


$

312,236

Accounts payable and customer deposits


5,641,109



4,490,455

Deferred Revenue


101,713



132,467

Accrued expenses and other payables


4,211,116



3,035,758

8% Convertible Note


1,631,688



-

Loans payable


962,679



960,869

   Total current liabilities


12,888,440



8,931,785







LONG TERM LIABILITIES






8% Convertible Note


3,897,716



-

Conversion feature


851,623



-

Trade note payable


-



271,915

Loan from joint venture partner


544,936



513,303

   Total long term liabilities


5,294,275



785,218







   Total liabilities


18,182,715



9,717,003

STOCKHOLDERS' EQUITY






Common stock, no par value, 250,000,000 shares authorized, 111,742,350 issued and outstanding  as of September 30, 2012 compared to 110,525,233 shares issued and outstanding as of December 31, 2011


222,260,303



216,188,899

Accumulated other comprehensive income (loss)


(1,458,521)



(1,143,295)

Accumulated deficit


(196,599,134)



(180,128,371)

   Elephant Talk Communications Corp. stockholders' equity


24,202,648



34,917,233







NON-CONTROLLING INTEREST


175,400



177,867

   Total stockholders' equity


24,378,048



35,095,100







TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

42,560,763


$

44,812,103

 

ELEPHANT TALK COMMUNICATIONS CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)









September 30, 2012



September 30, 2011







CASH FLOWS FROM OPERATING ACTIVITIES:






Net loss

$

(16,470,763)


$

(18,705,754)

Adjustments to reconcile net loss to net cash used in operating activities:






   Depreciation and amortization


3,766,494



3,993,900

   Provision for doubtful accounts


309,429



141,298

   Non-cash compensation


4,923,738



5,185,493

   Equity in earnings of joint venture


356,667



-

   Amortization of shares issued for consultancy


-



414,790

Changes in operating assets and liabilities:






   Decrease (increase) in accounts receivable


1,728,467



(1,156,321)

   Decrease (increase)  in prepaid expenses, deposits and other assets


(129,937)



1,007,688

   Decrease in accounts payable, proceeds from related parties and customer deposits


938,142



(1,123,577)

   Increase (decrease) in deferred revenue


(35,352)



431,794

   Increase (decrease) in accrued expenses and other payables


945,862



(1,488,451)

Net cash used in operating activities


(3,667,253)



(11,299,140)







CASH FLOWS FROM INVESTING ACTIVITIES:






   Purchases of property and equipment


(2,096,026)



(6,438,506)

   Restricted cash


(1,597,168)



37

   Loans to related party


(1,000,589)



-

   Loans to joint venture partners


(107,618)



-

   Loan to third party


(249,827)



(111,236)

  Net cash used in investing activities


(5,051,228)



(6,549,705)







CASH FLOWS FROM FINANCING ACTIVITIES:






   Trade note payable


-



392,590

   Deferred financing costs


(543,438)



-

       Proceeds from 8% convertible note, net of original issue discount


8,000,000



-

       Payments on 8% convertible note installment payments and interest


(964,958)



-

   Proceeds from exercise of warrants & options


969,714



25,601,365

   Payments for share issue costs


(79,643)



-

   Placement & solicitation fees


-



(1,027,522)

  Net cash provided by financing activities


7,381,675



24,966,433







EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS


(328,332)



1,482,698

NET INCREASE IN CASH AND CASH EQUIVALENTS


(1,665,138)



8,600,286

CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD


6,009,576



2,245,697

CASH AND CASH EQUIVALENTS, END OF THE PERIOD

$

4,344,438


$

10,845,983







SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:












Cash paid during the period for interest

$

348,383


$

-

 

Reconciliation of Non-GAAP Measures to GAAP

 

Reconciliation of Net loss to Adjusted EBITDA






Nine months ended September 30,

EBITDA Adjusted

2012


2011


2011 in constant currency







Net loss

$

(16,470,763)


$

(18,705,754)


$

(17,812,705)

Provision for income taxes


192,175



800



800

Depreciation and amortization


3,766,494



3,993,900



3,663,684

Stock-based compensation


4,940,131



5,600,283



5,523,024

Other income & expenses


(454,145)



(408,377)



(408,377)

Equity in earnings of unconsolidated joint venture


356,667



0



0

Adjusted EBITDA

$

(7,669,441)


$

(9,519,148)


$

(9,033,574)



Three months ended September 30,

EBITDA Adjusted

2012


2011


2011 in constant currency







Net loss

$

(5,474,665)


$

(7,271,107)


$

(6,857,514)

Provision for income taxes


94,887



0



0

Depreciation and amortization


1,263,137



1,353,450



1,205,060

Non-cash compensation


1,709,403



2,432,317



2,397,897

Other income & expenses


117,012



(39,521)



(36,528)

Equity in earnings of unconsolidated joint venture


164,252



0



0

Adjusted EBITDA

$

(2,125,974)


$

(3,524,861)


$

(3,291,085)

 


Reconciliation of non-GAAP Revenue to GAAP Revenue










Three months ended Sept. 30,


Nine months ended Sept. 30,


2012

2011

% change


2012

2011

% change


(unaudited)


(unaudited)

Constant currency reconciliation:








Total revenue, as reported

$6,699,381

$7,796,936

-14.1%


$22,365,318

$24,095,926

-7.2%

Estimated impact of foreign currency fluctuations



-11.6%




-9.0%

Total revenue constant currency growth rate



-2.5%




1.8%










Three months ended Sept. 30,


Nine months ended Sept. 30,


2012

2011

% change


2012

2011

% change


(unaudited)


(unaudited)

Constant currency reconciliation:








Landline revenue, as reported

$3,763,140

$6,388,824

-41.1%


$14,217,650

$20,227,712

-29.7%

Estimated impact of foreign currency fluctuations



-7.6%




-6.8%

Landline revenue constant currency growth rate



-33.5%




-22.9%










Three months ended Sept. 30,


Nine months ended Sept. 30,


2012

2011

% change


2012

2011

% change


(unaudited)


(unaudited)

Constant currency reconciliation:








Mobile & Security revenue, as reported

$2,936,241

$1,408,112

108.5%


$8,147,668

$3,868,214

110.6%

Estimated impact of foreign currency fluctuations



-32.8%




-20.5%

Mobile & Security revenue constant currency growth rate



141.3%




131.2%

 

Media Contacts
UK/Europe:

Fishburn Hedges
+44 (0)20 7839 4321
[email protected]  

US/North America:
Jed Hamilton
Intermarket Communications
+1 212 754 5479
[email protected]

Investor Relations Contacts
Steve Gersten
Elephant Talk Communications
+1 813 926 8920
[email protected]

Peter Salkowski
The Blueshirt Group
+1 415 489 2184
[email protected]

SOURCE Elephant Talk Communications, Corp.

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SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US and large in-house IT organizations.
SYS-CON Events announces a new pavilion on the Cloud Expo floor where WebRTC converges with the Internet of Things. Pavilion will showcase WebRTC and the Internet of Things. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices--computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic strategies that utility/cloud computing provides. Whether public, private, or in a hybrid form, clo...
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridsto...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at Internet of @ThingsExpo, Andrew Bolwell, Director of Innovation for HP’s Printing and Personal Systems Group, will discuss how key attributes of mobile technology – touch input, senso...
The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics...
Internet of @ThingsExpo Silicon Valley announced on Thursday its first 12 all-star speakers and sessions for its upcoming event, which will take place November 4-6, 2014, at the Santa Clara Convention Center in California. @ThingsExpo, the first and largest IoT event in the world, debuted at the Javits Center in New York City in June 10-12, 2014 with over 6,000 delegates attending the conference. Among the first 12 announced world class speakers, IBM will present two highly popular IoT sessions, which will take place November 4-6, 2014 at the Santa Clara Convention Center in Santa Clara, Calif...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at Internet of @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., will show what is needed to leverage the IoT to transform your business. He will discuss opportunities and challenges ahead for the IoT from a market and tec...
SYS-CON Events announced today that TeleStax, the main sponsor of Mobicents, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. TeleStax provides Open Source Communications software and services that facilitate the shift from legacy SS7 based IN networks to IP based LTE and IMS networks hosted on private (on-premise), hybrid or public clouds. TeleStax products include Restcomm, JSLEE, SMSC Gateway, USSD Gateway, SS7 Resource Adaptors, SIP Servlets, Rich Multimedia Services, Presence Services/RCS, Diame...
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.
SYS-CON Events announced today that O'Reilly Media has been named “Media Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. O'Reilly Media spreads the knowledge of innovators through its books, online services, magazines, and conferences. Since 1978, O'Reilly Media has been a chronicler and catalyst of cutting-edge development, homing in on the technology trends that really matter and spurring their adoption by amplifying "faint signals" from the alpha geeks who are creating the future. An...
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue business and deliver exceptional experiences to their customers.
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
As a disruptive technology, Web Real-Time Communication (WebRTC), which is an emerging standard of web communications, is redefining how brands and consumers communicate in real time. The on-going narrative around WebRTC has largely been around incorporating video, audio and chat functions to apps. In his session at Internet of @ThingsExpo, Alex Gouaillard, Founder and CTO of Temasys Communications, will look at a fourth element – data channels – and talk about its potential to move WebRTC beyond browsers and into the Internet of Things.
SYS-CON Events announced today that Gigaom Research has been named "Media Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Ashar Baig, Research Director, Cloud, at Gigaom Research, will also lead a Power Panel on the topic "Choosing the Right Cloud Option." Gigaom Research provides timely, in-depth analysis of emerging technologies for individual and corporate subscribers. Gigaom Research's network of 200+ independent analysts provides new content daily that bridges the gap between break...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.