Tintri posts quarterly revenue drop for its enterprise cloud platform

Tintri, which offers an enterprise cloud platform and which completed its IPO on 30-June-2017, reported quarterly revenue of $31.8 million, down 6% year-over-year There was a quarterly net loss per share of ($1.21) per share GAAP, and ($0.79) per share non-GAAP.

"We made progress in the quarter by expanding our differentiated technology portfolio with two new all-flash product lines and software that integrates our products with leading public cloud storage solutions. These innovations helped us to increase our footprint with existing customers. However, we are disappointed with Q3 revenue. The company was impacted by delayed and reduced purchases by some accounts, but some of the delayed transactions closed in November,” said Ken Klein, Chairman and CEO at Tintri.

The company also disclosed that it is exploring strategic options "to deliver value to our stockholders, including retaining investment bank advisors."