Xten's Cinderella Story

The stuff dreams are made of! Xten started in November of 2002, we had our first product in Beta trials in March of 2003. By May of the same year we were cash-flow positive! By the end of the year we had over 110,000 actively deployed endpoints, 12 people and almost cash-flow positive. I don't think anyone was expecting Xten to go from a 3 person startup in a tiny office in Vancouver to a 30+ person industry leader with offices in Santa Clara, Dallas and Vancouver in under 2 years. Now look at us! Financial Highlights for the Second Quarter 2005 Increase of revenue by 583% to $677,364 (Q2 2004: $116,014) Net loss of $198,275 (Q2 2004: $25,938) Financial Highlights for the First Six Months 2005 Increase of revenue by 347% to $1,164,515 (6M 2004: $335,036) Net loss of $397,932 (6M 2004: $54,904) With over 20 countries under our belt, more than 630,000 actively deployed endpoints and a 600% increase in revenue over last year, we certainly have nothing to complain about. Things are going so well in fact we are moving our research and development facility to a larger office space in downtown Vancouver at the end of the year, the Sun Tower Xten is taking the entire 8th floor, the last floor before the dome tower starts. It's a really cool old building, at one point it was the tallest building the British Empire! Now, if anyone has questions about our future, just ask our newly appointed member to our Board of Advisors over at Yahoo!. I am sure he will be able to give you some perspective. Email your questions to [email protected] and I will be certain to pass them along to my friend Graeme Dollar.