Enterprise storage company Fusion-io--whose largest customer is Facebook--filed today for an initial public offering, but the financials reveal an outfit that's still a work in progress.
For the six months that ended December 31, Fusion-io reported a net loss of $8.24 million on revenue of $58.3 million. For the same period a year earlier, Fusion-io reported a net loss of $13.2 million on revenue of $11.93 million. Those results show a lot of growth, but relative to other tech companies that are planning to go public--Skype and LinkedIn, for example--Fusion-io looks a little green. Still, Fusion-io has all the Wall Street heavy hitters as underwriters: Goldman Sachs, Morgan Stanley, J.P. Morgan, and Credit Suisse.
Salt Lake City-based Fusion-io has generated a good amount of buzz as a next-gen storage company focused on data decentralization. In a nutshell, Fusion-io's gear allows active data to be relocated to the server where it's being processed. Fusion-io's integrated software and hardware aims to boost data center efficiency. Fusion-io sells direct as well through Dell, HP, IBM and the channel.
Read more of "Fusion-io plans IPO; Facebook is its largest data center customer" at ZDNet's Between the Lines.