Sphere 3D Corporation provided revenue guidance for the fourth quarter of 2014. For fiscal quarter, the company expects to exceed revenue projections with a record $9.0 million (CAD 10.44 million). As a result of commitment to operational efficiency, the company worked with Overland management, prior to the completion of acquisition, to ensure that their targeted $20 million in annualized operating expense reductions were not only met, but were 15% ($3 million) ahead of expectations.

Annualized revenue run rate has grown from less than $4 million in first quarter of 2014 to over $36 million in fourth quarter of 2014, and the company have set goal for an annualized run rate of over $160 million in fourth quarter of 2015.