The yearly performance shows losses too: For the nine months so far recorded in 2001, the company has shown a net loss of $8.8 million ($0.40 per share) on revenues of $2.6 million.
Among the positive signs cited by FalconStor execs, including CEO ReiJane Huai and CFO Jacob Ferng, are the company's $64 million in cash, cash equivalents, and marketable securities, which Huai says will be used for strategic licensing, acquisitions, and other means of promoting the company and its technology.
Management also claims it's a positive that they've been able to keep the company run rate at an average $4 million to $5 million per quarter, despite increases in business activity.
All told, the execs say they're on track. "We are pleased with the industry recognition of our state-of-the-art network storage infrastructure software by OEM and channel partners worldwide," Huai said in a prepared statement.
OEMs (original equipment manufacturers) are key to future success for FalconStor, which Huai says has no direct end-user sales prospects. So far, he says, 10 OEMs have signed as strategic partners. Several of these account for more than 10 percent of the company's revenues apiece, including: Asahi Electronics Co. Ltd. (AEC); ADTX; and Dot Hill Systems Corp.
To realize the benefits of cloud-native software, an application must actually be cloud-native—designed to run in the cloud, interacting with disaggregated cloud services, fully manageable as code—to deliver the expected benefits.
By combining resources and expertise, the AI-Enabled ICT Workforce Consortium will offer a blueprint for how industries can adapt to an AI-dominated future.
IT leaders should heed the guidance of cybersecurity insurance providers who think businesses should prioritize security education, incident preparedness, regular internal audits, and ongoing vulnerability scanning and patching.
