Edited Transcript of TNAV earnings conference call or presentation 7-Nov-19 10:30pm GMT [Yahoo! Finance News]
TELENAV (TNAV)
Last telenav earnings: 2/6 04:02 pm
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Source: Yahoo! Finance News
Edited Transcript of TNAV earnings conference call or presentation 7-Nov-19 10:30pm GMT And with that, I will now turn the call over to HP. -------------------------------------------------------------------------------- H. P. Jin, Telenav, Inc. - Co-Founder, Chairman, President & CEO [3] Thanks, Mike, and welcome, everyone, to the call. Looking at Telenav, currently, we see encouraging near-term momentum, some uncertainty in the midterm and a strong long-term prospects. Our solid Q1 financial performance demonstrates the strength of execution. We achieved 39% growth in revenue and 44% increase in billings compared with Q1 of last year, higher than our guidance. We increased our cash balance to nearly $122 million compared with $99 million in the fourth quarter of 2019. As you are likely aware, GM announced their plan to use Google Automotive Services starting in model year 2022. As we discussed earlier, we don't anticipate any near-term financial impact as a result of the GM-Google a
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