Determine Releases Q2 Financial Results for 2016
On November 11, Determine, Inc. (NASDAQ: DTRM), the San Mateo, California-based provider of source-to-settle solutions for the cloud, announced its financial earnings for the second quarter of Fiscal Year 2016. Formerly known as Selectica, the company recently consolidated and rebranded its three principal companies, Selectica, Iasta, and b-pack, under the Determine brand (Selectica Rebrands as Determine, Plans to Consolidate Solutions onto One Platform). On the heals of this development, Determine reports strong year-over-year growth across several key performance metrics:
- $6.8 million in GAAP revenue in Q2 2016, compared to $5.2 million in Q2 2015 – a 30% growth
- $3.5 million in gross profit in Q2 2016, compared to $1.35 million in Q2 2015 – a 159% growth
- 52% GAAP gross profit margins in Q2 2016, compared to 26% in Q2 2015 – a 100% growth
The strong financial results follows 18 months of growth and change at Determine/Selectica, which saw the acquisition of Iasta in 2014 and then b-pack in 2015. Determine CEO/President, Patrick Stakenas, attributes the company’s strong growth to its acquisition strategy and continued focus to integrate the three separate companies and offerings under one brand and on one platform.
SciQuest Releases 3Q 2015 Financial Results
Recently, North Carolina-based SciQuest (Nasdaq: SQI), which offers automated spend management solutions for procurement practitioners, announced financial results for the third quarter of Fiscal Year 2015. According to Stephen Wiehe, CEO of SciQuest, the company experienced strong financial performance in Q3 and exceeded the high-end of its guidance ranges, which he attributes in part to customer growth. Some of the quarter highlights include:
- $26.3 million in GAAP revenues, compared to $25.7 million in Q3 2014
- $5.7 million EBITDA (non-GAAP), compared to $4.7 million in Q3 2014
- $1.3 million in income loss from operations, compared to $700,000 in Q3 2014
- $300,000 in net income, compared to $400,000 in Q3 2014
Wiehe added that SciQuest intends to continue growing revenues while maintaining high adjusted EBITDA margins.
Coupa’s Releases Revenues in Q3 2015
Coupa Software recently announced it had achieved a new quarterly revenue record, as well as continued its trend of customer subscription growth for the third quarter of 2015. The announcement also wrapped up key business highlights for Q3 2015, including the acquisitions of TripScanner and InvoiceSmash, and new customer wins across North America, EMEA, Asia, and Latin America. Coupa stated its client roster now included enterprises such as Quantum Murray, Michael Kors, Arizona State Credit Union, Dental Corporation of Canada, OVO Energy, Oberthur, and CEVA.
Coupa has been on a growth trajectory in the past few months, between acquiring two solution providers—one in business travel and one in accounts payable—and hosting its second Coupa Inspire in Europe. The company also added capacity in Europe this summer, including opening a hub in Dublin. Coupa is running hard to create a significant market share for itself, and looks like it is well on its way to becoming a significant player in its space.
Kinaxis Reports 3Q 2015 Financial Results
Recently, Kinaxis, the Ottawa, Canada-based provider of supply chain management and sales and operations planning management solutions, announced financial results for the third quarter of 2015. According to Doug Colbeth, Chairman and CEO of Kinaxis, the company experienced a strong third quarter, owing to growth in its subscription revenue base and professional services, and continued momentum from earlier in the year. Some highlights from Q3 are:
- $23.7 million in total revenue, a growth of 34% compared to Q3 2014
- $16.5 million in subscription revenue, up 24% compared to Q3 2014
- $6.9 million in professional services revenue, a growth of 68% compared to Q3 2014
- $16.8 million in gross profit, up 31% compared to Q3 2014
- $8 million in adjusted EBITDA, a growth of 54% compared to Q3 2014
- $3.8 million in profit, up 52% compared to Q3 2014
On the heals of the earnings announcement, Kinaxis announced that effective January 1, 2016, John Sicard will replace Douglas Colbeth of CEO. Colbeth will stay on as Chairman of the Board. Sicard is currently Kinaxis’ Chief Products Officer. A hearty congratulations to John and all our best to him in the near year and new role.
Speaking of the New Year, what are you doing March 29-30? Ardent Partners is hosting our inaugural CPO Rising procurement executive summit here in Boston, and early bird registration is now open. Click here to take advantage of discount pricing!
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