Is the worst finally behind HTC from both financial and creative standpoints now that the Taiwanese device manufacturer enjoys “continued” sales momentum for the Vive VR headset, with Google Pixels warmly received by Android purists, and a potentially game-changing “Ocean” right around the corner?

While the company is yet to reach quarterly breakeven after several years of constant losses, results for the July – September 2016 period are certainly encouraging, with surging revenues described as “strong” for once, and a much narrower deficit than previous such timeframes.

With a gross margin of 16.1 percent, Q3 earnings rose sequentially by 18 percent and by 4 percent annually, to a cool NT$22.2 billion, or roughly USD 700 million. We already know that’s largely due to an unusually solid September performance, which was up 42 percent month-on-month and 31 percent year-on-year.

Still, it wasn’t enough to actually earn investors some money, though compared to past negative figures, the latest quarterly operating loss of NT$2 billion and net loss after tax of NT$1.8 billion, or –NT$2.18 per share, definitely seem like progress. Mind you, HTC wasted NT$3.1 billion, or NT$3.71 per share, in Q2 2016, as well as a net total of NT$4.5 billion and NT$5.41 per share respectively between July and September 2015.

In case you’re wondering, NT$2 billion, $1.8 billion and $2.18 convert to around USD 63 million, 57 million and 7 American cents respectively, basically signaling there’s truly no way to go but up for HTC now.

Source: HTC

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