ive Swings To A Loss, But Revenue Up 53 Percent To $22.5M In First Quarter As A Public Company

Enterprise software company Jive has just reported fourth quarter results, which represent the company’s first earnings report as a public company. Q4 total revenue came in at $22.5 million, up 53% year-over-year. The company continued to take losses in terms of profit, posting a net loss of $12.7 million for the quarter (GAAP), compared to a net loss of $6.8 million for the same period last year. Non-GAAP net loss for the fourth quarter was $9.1 million, compared to a net loss of $5.7 million for the same period last year. Analysts expected a loss of $0.39 per share and revenue of $21.01 million.
Within total revenue, product revenue was $19.2 million for the fourth quarter, an increase of 61% on a year-over-year basis. Professional Services revenue for the fourth quarter was $3.3 million, an increase of 21% on a year-over-year basis.
Founded in 2001, Jive has been at the forefront of blending social with enterprise software. Modeled to offer Facebook-like features to enterprises, Jive’s software combines computing with social collaboration to offer fully-featured social networks for businesses. Its suite of applications help businesses collaborate on a variety of tasks, including holding discussions, communication, sharing documents, blogging, running polls, and social networking features and more.
CEO Tony Zingale said in a release: “Jive is increasingly being adopted by large global organizations that are investing in social business to change the way work gets done. During the fourth quarter, we had a record number of wins with an annual subscription value of $1 million or greater, and more than doubled the average annual deal size for new relationships during 2011.”
The company saw record client billings in the fourth quarter of $36 million, up 40% year-over-year, with 2011 total billings of $104.9 million, up 46% year-over-year. The completion of Jive’s IPO contributes to a $180.6 million cash balance at end of 2011, says the company (the IPO brough Jive $131.4 million in net proceeds).
Although the company is still unprofitable, Zingale seemed optimistic when we spoke to him at the time of Jive’s public market debut in December. “We need to break even, then generate positive cash flow and generate a margin that is interesting to shareholders,” he told us. “We will get to profitability at a reasonable timeframe but we have to balance this with investment in the business and growth opportunity in the market.”
Source:http://techcrunch.com/2012/02/07/jive-q4-revenue-up-53-percent-to-22-5m-in-first-quarter-as-a-public-company/