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Please note that iPass undertakes no responsibility to update information in this conference call. On this call, we will provide and talk about our results using non-GAAP financial measures. The press release on our website includes text and tables that explain how we define and calculate the various non-GAAP metrics and the reconciliation of non-GAAP results to GAAP results.The press release and Form 8-K announcing our financial results are available on our website. This earnings call is being recorded for replay. It is being webcast and will also be available on our website for one quarter until the next earnings call. Please note that this webcast is a property of iPass and any copying or rebroadcast without the expressed prior written consent of iPass is prohibited. Before I turn the call over to Evan, we would like to note for you that Evan will be in San Diego tomorrow Tuesday, presenting at the Tech America Conference, and that Even and I both will be New York City, Chicago and Minneapolis next week. If you are interested in connecting with us, please feel free to shoot us an email at email@example.com. With that I’d like to turn the call over to Evan. Evan Kaplan Thanks Steven. Good afternoon everyone and thanks for joining us. I’d like to start this call with a bit more of a preamble than I usually provide. Its approaching three year's now since I took the home at iPass, during that time weather recession, large write-offs from previous acquisitions, a very significant decline in revenue from our legacy product and real challenges around profitability. All this resort to transform the company. As we head into year-end, we are closing out a year that’s seen tremendous amount of change for the company and I believe a compelling amount of value creation for our shareholders. We started with such a nation product and really a singular focus and here we are well positioned in front of a rapidly expanding market with a tremendous level of excitement across a number of fronts, including product, people, customers and business models.
I think it's appropriate to take a moment to talk about this market. When I started here in mid-November 2008, we had about 100,000 commercial hot spots in our footprint and I’d estimate that covered a significant portion of the world’s commercial Wi-Fi footprint. As we talk today, we provide our enterprise customers and carrier partners with a worldwide footprint of more than 650,000 commercial Wi-Fi hotspots that are integrated to our global billing and authentication platform. It's not hard to see how we exit the year with more than 750,000 hotspots with a view to looking at multi-millions in the next few years.Importantly the industry itself is projecting 350% growth in hotspots by 2015. He now broad based bullishness on the role of Wi-Fi and the mobile ecosystem is in direct contrast to the stated thing when I arrived here in iPass. At that time most of the industry predicted that commercial Wi-Fi would die a slow death as 3G and 4G networks appear to be positioned to dominate everything, but the dynamics are now very clear and very different. Connectivity demands have grown exponentially with unyielding growth in devices and traffic. Consequently, commercial Wi-Fi has become a critical part of almost every operators plan. To get a sense of this urgency and scale, last week Brazil’s Lloyd telecom announced they would have 1 million commercial hotspots deployed by the end of 2012. This follows a similar announcement of similar scale by China Mobile, China Telecom and other carriers around the globe. Big numbers for sure, and importantly iPass is a part of most of these discussions. As you can see for example in our recent China Mobile announcement. And so the core question you should be asking is, okay, how did iPass business and investment align t take advantage of this growth?
The answer is that on the strength of our technology platform and the expulsive growth in Wi-Fi, we expect to see the Open Mobile value proposition continue to play out well and continue to gain more traction. I’ll go through the details in a bit, but suffice to say, we saw almost a two fold increase in a number of enterprise customers that side onto the platform and now have more than 235 large enterprises committed to Open Mobile. In addition, the number of monetized usage of Open Mobile has grown rapidly, granted it started from a small number, but now it's already at a very respectable aggregate levels and has been doubling sequentially quarter-to-quarter.Read the rest of this transcript for free on seekingalpha.com