Thinspace Technology Inc (OTCMKTS:THNS) gained momentum after its CEO Chris Bautista made an appearance on Emmy Award Winning show, ‘Big Biz’ as a guest. The show hosted by Bob “Sully” Sullivan discussed the rapid development taking place in the ‘Cloud Computing’ space. Also, the show covered Mr. Bautista’s views on how providers such as Thinspace are meeting the market demand through offering their proprietary technologies such as skyDirect.
The company briefed that its product skyDirect offers secure remote access to the set of hosted desktops using any device such as mobile or a tablet. In this way, Thinspace Technology Inc (OTCMKTS:THNS) is increasingly addressing the need of businesses to access any remote data across the world while giving them utmost security at all times.
Alongside this development, the company also has some strong financial credentials to prove its mettle. In a recently released annual report, the company recorded a 315% year-over-year growth in its revenues from $1.509 million in FY2013 to $6.267 million in FY2014. The revenue came in line with the company’s quarterly revenue performance, recorded at $5.701 million as against $984,000 in the previous year.
Better financial picture
In addition, Thinspace Technology Inc (OTCMKTS:THNS) reported an increase in operation efficiency as it successfully trimmed down its operating expenses from 133% of revenue in 2013 to 98% in 2014. Operating loss too narrowed from 79% of revenue in 2013 to 54% of revenue in 2014. The company took an opportunity to inform its stakeholders that the company’s implemented changes are yielding it results. The financial performance during 2014 is encouraging and will enable the company do better in the 2015 financial year, said Bautista.
The stock price of Thinspace Technology Inc (OTCMKTS:THNS) recorded a surge by nearly 5% and closed at $0.105, while the share volume stood at 320,894 shares during the last trading session.