Determine Releases Third Quarter Financial Results for 2016
On February 10, Determine, Inc. (NASDAQ: DTRM), the San Mateo, California-based provider of source-to-settle solutions for the cloud, announced its financial earnings for the third quarter of Fiscal Year 2016. Formerly known as Selectica, the company consolidated and rebranded its three principal companies, Selectica, Iasta, and b-pack, under the Determine brand last October (Selectica Rebrands as Determine, Plans to Consolidate Solutions onto One Platform). According to Determine CEO and President, Patrick Stakenas, the company continued its growth in the third quarter, with increases in bookings, sales, and customers for its professional services business. Here are some highlights:
- $7.1 million in GAAP revenue, compared to $6.0 million in Q3 2015 – a 19% year-over-year increase
- 52% GAAP gross profit percentage compared to 48% in Q3 2015 – a 7% year-over-year increase
- $3.1 million GAAP net loss per share, compared to $3.8 million per share in Q3 2015 – a $0.21 year-over-year improvement
In 2016, Determine looks to launch its newest iteration of its Platform and to further integrate its sales, marketing, and operations staff from all three companies under one unified brand.
SciQuest Announces Fourth Quarter and Full-Year 2015 Financial Results
On February 4, North Carolina-based SciQuest (Nasdaq: SQI), which offers automated spend management solutions for procurement practitioners, announced financial results for the fourth quarter of 2015 as well as the full year. SciQuest CEO, Stephen Wiehe, remarked that the company Q4 results exceeded expectations, with high customer growth and cross-selling reported. For the year, he credits strategic investments made earlier in the year and “re-writing” four of their solutions into SciQuest’s primary platform helped to drive financial performance in the second half of the year. Q4 highlights include:
- $26.7 million in GAAP revenue, compared to $25.6 million in Q4 2014, a 4%year-over-year increase
- $1.3 million in GAAP income from operations, compared to $0.2 million in Q4 2014, a 500% year-over-year increase
- $1.5 million in GAAP net income, compared $0.4 million in Q4 2014, a 250% year-over-year increase
2015 highlights include:
- $105.6 million in GAAP revenue, compared to $101.9 million in 2014, a 1% year-over-year increase
- $2.5 million in GAAP income, compared to a loss of $0.7 million in 2014
- $1.9 million in GAAP net income, compared to a loss of $0.1 million in 2014
Hubwoo Announces Fourth Quarter and Full-Year 2015 Financial Results
On January 29, Hubwoo (Euronext: HBW.NX), the Paris-based provider of spend management and business process automation solutions for the cloud that is owned by Perfect Commerce, announced financial results for the fourth quarter of 2015. Hubwoo was acquired by Perfect Commerce back in the third quarter of 2015 (Technology Round-Up – September 23, 2015), and as Hubwoo’s CEO Hampton Wall noted, the acquisition has had an impact on revenues, as well as subscriptions to its SaaS solutions, and services. Fourth quarter highlights include:
- 5.8 million Euros in consolidated revenue, compared to 7.1 million Euros in Q4 2014, or a -19% difference year-over-year
- 5.2 million Euros in SaaS subscriptions, compared to 5.7 million Euros in Q4 2014, or a -9% difference year-over-year
- 0.7 million Euros in services, compared to 1.5 million Euros in Q4 2014, or a -56% difference year-over-year
Full-year highlights include:
- 24.5 million Euros in consolidated revenue, compared to 27.5 million Euros in 2014, or a -11% difference year-over-year
- 20.7 million Euros in SaaS subscriptions, compared to 22.5 million Euros in 2014, or a -8% difference year-over-year
- 3.8 million Euros in services, compared to 5.0 million Euros in 2014, or a -25% difference year-over-year
SAP-Concur Releases 2015 Financial Results
On February 4, SAP, the parent company of travel and expense management solution provider,Concur, released financial results for 2015. Business Travel News quoted Concur CEO and SAP global managing board member Steve Singh as saying that the company had its “strongest year ever” in 2015, with several key wins to report:
- Growth in billing rates of 30% compared to 2014
- Cloud subscriptions and support revenue of $175.6 million in Q4 alone
- 5,000 new customers in 2015, for a total of 32 million users
Singh attributes Concur’s growth to success in the United States, European, and Asian markets, where strong leadership and SAP’s brand recognition have helped to fuel subscriptions and growth.
Coupa Refreshes Cloud-Based Supply Management Platform, Release 14
Last week, Coupa, the California-based provider of spend management solutions for the cloud, announced the newest iteration of its supply management platform, Release 14. The newest version incorporates user feedback into the platform to enhance features across the source-to-settle process, such as the ability to edit running events as information comes in, as well as the ability to edit supplier notifications/invitations to meet one’s specific needs. Coupa Release 14 also features a number of operational improvements, like enhanced desktop receiving via email, greater visibility into sent and bounced emails, and improved buyer-side tax coding. Other improvements provide users with the ability to add an extra approver to their expense reports; additional languages (Chinese and Czech) that the platform supports; and thanks to the Open Business Network, additional countries (Sweden and Switzerland) that offer Compliant eInvoicing.
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