Operating Expenses declined 22% over Q3'15 and 6% over Q2'16 reflecting continued cost management efforts. While Strategic Partnership and UNLIMITED customer revenues both increased sequentially, Enterprise Pay-as-You-Go customers exhibited the usual softness in the third quarter due to seasonality. Revenue increased 6% over Q3'15 and declined 4% over Q2'16. Usage of the iPass Network, as measured in total hours consumed increased 57% over Q3'15 and 11% over Q2'16, driven by Enterprise UNLIMITED customers, Strategic Partnership usage, and continued network expansion.
And finally, growth as our third quarter revenues again grew year over year, driven by explosive growth in strategic partner revenue, and also growth in usage of nearly 60%."Īverage monthly Wi-Fi network users were 133,000, up 32% over Q3'15 and 6% over Q2'16. Third, we've seen continued and significant improvements in our product, as measured in both connectivity success rates and data collection and processing. Second, while we spent some cash in the first quarter, we have stemmed that burn and our cash balance is flat over the last six months. Enterprises are still drawn to the value proposition, but we are unleashing an ever expanding market for our technology, as the iPass SmartConnect SDK finds its way into mobile operators, MVNOs, loyalty programs, social networking apps, and digital media providers. "First, our ACV continues to ramp, and we are finding more and more varied opportunities to sell the iPass service. "The third quarter exemplified our previous commentary on this year 2016 is about execution coming off 2015 that set the course for change," said Gary Griffiths, president and CEO. ( NASDAQ: IPAS), the leading provider of global mobile connectivity, reported total revenue of $15.9 million, GAAP net loss of $1.3 million, and Adjusted EBITDA loss of $0.4 million for the quarter ended September 30, 2016. REDWOOD SHORES, CA-(Marketwired - Nov 3, 2016) - iPass Inc.
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