SAN MATEO, CA — (Marketwired) — 08/12/15 — , Inc. (NASDAQ: SLTC), a global provider of SaaS contract management and end-to-end source-to-pay supply management software solutions, including eSourcing, eProcurement, spend analysis, and procure-to-pay software, announced its Q1 FY2016 financial results.
GAAP revenue was $6.2 million in Q1 FY2016, compared to $5.9 million in Q4 FY2015, representing a 5% quarter over quarter increase.
GAAP gross profit percentage was 53.2% in Q1 FY2016, compared to 49.9% in Q4 FY2015, representing a 3-percentage point improvement.
GAAP net loss was ($2.9) million or ($0.32) per share in Q1 FY2016, compared to ($4.3) million or ($0.53) per share in Q4 FY2015, representing an improvement of $0.21 per share.
Non-GAAP revenue was $6.3 million in Q1 FY2016, compared to $6.1 million in Q4 FY2015, representing a 3% quarter over quarter increase.
Non-GAAP gross profit percentage was 56.2% in Q1 FY2016, compared to 53.8% in Q4 FY2015, representing a 2-percentage point improvement.
Non-GAAP net loss was ($1.7) million or ($0.19) per share in Q1 FY2016, compared to ($1.8) million or ($0.23) per share in Q4 FY2015, representing an improvement of $0.04 per share.
“I am very pleased to see the significant growth in both Q1 FY2016 new business volume and customer expansion as well as the diversity of new solutions across industry verticals. This was a very strong sales quarter for the company — the pipeline and deal flow were very robust in Q1 and we anticipate seeing continued incremental growth as we move throughout the fiscal year,” said , President and CEO of Selectica. “As we look forward to integrating our new procure-to-pay capabilities, obtained through the b-pack acquisition, I anticipate both the volume and size of the deal flow to benefit from these new capabilities.”
In Q1 FY2016, the company closed the greatest number of new customer accounts in recent history and expanded the value of current customers across a variety of business verticals domestically and internationally. New accounts included sales in key verticals: real estate, aerospace, media, automotive manufacturing, pharmaceuticals / medical devices, higher education and supply chain software. With respect to expanding existing customer relationships, the team deepened, broadened and grew customer relationships to over 10% of our customer base across the following verticals: retail, non-profit, government contractor, entertainment, business consulting, pharmaceutical, and medical services.
Selectica–s Global Alliance team successfully expanded its indirect sales channel by signing three new global partners and alliances: Beroe Inc., Partners in Performance, and Xoomworks Consulting and Outsourcing Through these new partnerships, Selectica contract management and strategic sourcing solutions will be poised to penetrate areas of the globe not currently served by the direct sales team, including India, Australia, New Zealand, and expanded areas of the United Kingdom.
Selectica executives, Patrick Stakenas, President and CEO, and , Director Product Marketing, were among the 2015 recipients of the presented by Supply & Demand Executive magazine.
In addition, Supply & Demand Executive magazine named the following Selectica clients “Practitioner Pros to Know” as exceptional corporate executives: Nancy Jorgensen while at Brunswick, Joanna Martinez from Cushman & Wakefield, Lou Galczynski from Endo, James Gavin McCarthy from Equifax, Jason East from YP, and Michael Morris from Owens Corning 2015.
: In Q1 FY2016, the company held three educational and highly attended customer and prospective client addressing relevant trends and business challenges — importance of contract workflow, how technologies impact procurement organizations and holistic end-to-end approach in source-to-pay. In addition to the three webinars, Andrew Bartolini, Chief Research Officer of Ardent, interviewed Patrick Stakenas, discussing how CLM technology provides holistic buy and sell-side benefits.
Selectica Patrick Stakenas to President and CEO and a Director. Mr. Stakenas joined the Company as Chief Strategy Officer at the beginning of 2014, from Gartner, after driving ForceLogix Technologies through its IPO and sale to CallidusCloud.
A conference call and webcast will be held today at 5:00 p.m. EDT to review these results. Interested parties may participate via conference call and webcast; more details:
Live Participant Conference Call Numbers:
Toll-Free: 1-877-407-0789
Toll/International 1-201-689-8562
Live Webcast Link
Toll-Free: 1-877-870-5176
Toll/International: 1-858-384-5517
From: 08/12/15 @ 8:00 pm Eastern Time
To 08/26/15 @ 11:59 pm Eastern Time
Replay Pin Number: 13616454
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Selectica a global provider of SaaS contract management and end-to-end source-to-pay supply management software solutions. As a recognized leader in the industry, Selectica provides deep innovative capabilities in Enterprise Contract Management, Strategic Sourcing, eProcurement, eSourcing, Spend Analysis, and Procure-to-Pay. Since 1996, Selectica has helped global companies actively manage their contracts throughout the sales, procurement, and legal life cycle. Selectica–s contract lifecycle management, strategic sourcing, and procure-to-pay software solutions drive critical operational business value that effectively accelerate revenue opportunities and minimizing risk through compliance. A recognized leader in the industry, our patented technology assists customers across a myriad of industries — including high-tech, telecommunications, manufacturing, healthcare, and financial services. Selectica also provides a powerful configuration engine, which Fortune 500 companies use to increase revenue by facilitating the right combination of products, services and price. For more information, please visit: .
To supplement our financial results presented in accordance with Generally Accepted Accounting Principles (GAAP), this press release and the accompanying tables contain certain non-GAAP financial measures, including non-GAAP revenue, non-GAAP gross profit, non-GAAP net income, and non-GAAP earnings per share, which we believe are helpful in understanding our past financial performance and future results. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, “GAAP to Non-GAAP Reconciliations”. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand and manage our business and forecast future periods; as such, we believe it is useful for investors to understand the effects of these items on our total operations. Further, please note that our non-GAAP revenue is intended to reflect the full amount of revenues that would have been otherwise recorded by the acquired entities of Iasta, while our non-GAAP gross profit also excludes the amortization of intangibles that occurred due to the acquisition of the entities of Iasta.
Certain statements in this release and elsewhere by Selectica are forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements regarding business outlook, assessment of market conditions, anticipated financial and operating results, strategies, product and channel development, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to fluctuations in demand for Selectica–s products and services, risks of losing key personnel or customers, protection of the company–s intellectual property and government policies and regulations, including, but not limited to those affecting the company–s industry. Selectica undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Additional risk factors concerning the company can be found in the company–s most recent Form 10-K as filed by the company with the Securities and Exchange Commission.
Budd Zuckerman
+1.303.415.0200
Rose Lee
Selectica
+1.650.532.1590
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