Tangoe Inc., a provider of on-demand communications lifecycle management, software and related services to a variety of enterprises, completed its IPO almost 3 months ago.
Tangoe is among the number of technology companies that listed shares this year. The company priced its IPO at $10 per share. The company’s shares began trading on the NASDAQ on July 27, 2011.
Tangoe’s performance since the IPO has been impressive, despite the volatility in the broad market. Since the IPO, Tangoe shares gained 19.75%, compared with a decline of 5.67% for the NASDAQ. In the last month, the company’s shares gained 3.56%, compared with a decline of 0.55% for the NASDAQ.
Tangoe will release its third-quarter financial results on November 8, 2011, after market close. For the second quarter, the company reported total revenue of $26 million, representing an increase of 56% on a year-over-year basis. The company’s GAAP operating income for the second quarter of 2011 was $1 million, compared with $0.3 million reported for the same period in the previous year. The company reported GAAP net loss of $1.4 million for the second quarter, compared with GAAP net loss of $0.2 million reported for the same period in the previous year.
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