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INPX Nasdaq· Inpixon
Earnings report Q3 2023

INPX Reports Decrease in Revenue for the Third Quarter of 2023

Segments of Revenue

INPX reported total revenues of $2.02 million for the third quarter of 2023, compared to $2.44 million in the same period last year. The breakdown of revenue segments for the quarter is as follows:

  • Recurring revenue from software amounted to $1.03 million, showing a slight increase from $0.99 million in the prior year's quarter.
  • Non-recurring revenue consisted of $0.99 million, with $0.48 million from hardware sales, $0.46 million from software, and $0.05 million from professional services.

Strengths

Despite the overall decrease in revenue, INPX managed to maintain stable recurring revenue from software. This indicates a consistent customer base and a reliable stream of income. The company's focus on software as a service (SaaS) offerings seems to be paying off.

Challenges

INPX faced a decline in non-recurring revenue, particularly in hardware sales, which decreased from $0.75 million to $0.48 million. This decline may be attributed to longer sales cycles in the Industrial Internet of Things (IIoT) business. The company needs to address these challenges and find ways to shorten sales cycles to boost non-recurring revenue.

Noteworthy

INPX reported a decrease in total revenue for the third quarter of 2023 compared to the same period last year. This decline can be primarily attributed to longer sales cycles in the IIoT business, impacting non-recurring revenue. However, the company's recurring revenue from software remained stable, indicating a loyal customer base.

Summary

INPX faced a challenging quarter with a decrease in total revenue. While recurring revenue from software remained stable, non-recurring revenue, especially from hardware sales, experienced a decline. The company needs to address the longer sales cycles in the IIoT business to improve non-recurring revenue. Overall, INPX should focus on leveraging its strong customer base and SaaS offerings to drive future growth and mitigate the challenges faced in the latest quarter.

Source documents

Form 10-Q  filed on Nov 20, 2023
37 pages scanned

Reference data

Company financials Q3 revenue 2M
Analyst estimates Q3 EPS missed by NaN%
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