SAN MATEO, CA — (Marketwired) — 11/11/14 — (NASDAQ: SLTC), a leading provider of contract management, configuration, and strategic sourcing solutions, today announced financial results for its fiscal second quarter ended September 30, 2014.
GAAP revenue for Q2–15 was $5.2 million, compared to $3.9 million in Q2–14, representing 32% year-over year growth. GAAP net loss for Q2–15 was $2.7 million or ($0.71) per share, compared to a net loss of $0.5 million or ($0.45) per share in Q2–14.
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 net income and non-GAAP net income 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 operating expenses. Our non-GAAP net loss reflects the following adjustments: non-cash items such as stock-based compensation and amortization of intangibles, one-time costs such as acquisition related costs, restructuring costs, change in fair value of warrant liability as well as the related income tax effects. Our non-GAAP revenue is intended to reflect the full amount of support and service revenue that would have otherwise been recorded by the acquired entity.
Non-GAAP revenue for Q2–15 was $6.2 million, compared to $3.9 million in Q2–14, representing 57% year over year growth. Non-GAAP net loss for Q2–15 was $3.2 million or ($0.41) per share, compared to a net loss of $1.3 million or ($0.37) per share in Q2–14.
“We continue to make inroads with significant, enterprise customers that are enthusiastic about the bottom line business value our broad suite of CLM and strategic sourcing solutions provide,” said , CEO and President of Selectica. “Of the new enterprise customers we signed in the quarter, three specific examples demonstrate how industry leaders are recognizing Selectica as able to drive reduced costs, better managed risks, and the delivery of real bottom-line value. The first is Rite Aid, a Fortune 500 drugstore chain that is one of our newest strategic sourcing clients. The second, one of the largest professional services firms providing Fortune 500 companies with audit, tax and advisory services, chose Selectica CLM after a very competitive process as their ultimate solution. The third is the US–s largest supermarket chain by revenue, Kroger. Just a quarter after the completion of our merger with Iasta, Kroger has committed to Selectica CLM, becoming the first true proof point that the synergies we have been discussing between Selectica and Iasta customers are real and will lead to continued momentum for the second half of FY 2015 and beyond.”
: Selectica was successfully able to cross-sell its first major customer during Q2–15: The Kroger Company. With revenues approaching $100B, Kroger is the US–s largest supermarket chain, second-largest general retailer, and twenty-fourth largest company. Kroger was an existing client of Iasta and is now executing on a Selectica CLM delivery plan to complement their existing sourcing installation.
In addition to Kroger, Selectica successfully engaged and closed Rite Aid, a Fortune 500 drugstore chain and one of the largest in the US. Rite Aid chose Selectica after a detailed evaluation of competing strategic sourcing solutions. Also choosing Selectica as their preferred solution during the quarter was one of the largest professional services firms providing Fortune 500 companies with audit, tax and advisory services. We remain committed to providing both our existing and new potential customers with the most compelling CLM and strategic sourcing solutions currently available in the industry.
In the quarter we moved to effectively bring the Selectica and Iasta teams together into one, single integrated organization. It is clear that Selectica and Iasta–s clients and prospects desire a unified approach to sales, marketing, product, account management and customer support and the company–s single, unified organization now provides that in an effective manner.
A conference call and webcast will be held today at 5:00 p.m. EST to review these results. Interested parties may participate via conference call and webcast; more details:
Participant Conference Call Numbers:
Toll-Free: 1-877-407-0789
Toll/International: 1-201-689-8562
Participant Webcast Link:
Toll-Free: 1-877-870-5176
Toll/International: 1-858-384-5517
From: 11/11/2014 @ 8:00 pm EST
To: 11/25/2014 @ 11:59 pm EST
Replay Pin Number: 13594923
Related:
Selectica Solutions
Selectica –Social Contracting–
Selectica on
Selectica on
Selectica on
Selectica
Selectica
Selectica, Inc. (NASDAQ: SLTC) provides a platform for enterprises worldwide to create, manage, and optimize business relationships with contracts at the core. Selectica helps global companies actively manage their contracts throughout the sales, procurement and legal life cycles. Selectica–s contract management solutions drive business value by assisting organizations in managing contracts profitably, effectively accelerating revenue opportunities, and minimizing risk through compliance. Through Iasta, a Selectica company, we provide leading strategic sourcing and spend management solutions, dedicated to empowering sourcing and purchasing professionals. Our blend of acclaimed software and services focus on improving spend analysis, procurement intelligence, sourcing, and supplier lifecycle management. Our solutions play a critical role in optimizing business relationships by enhancing supply base insights, improving supplier collaboration and reducing the supply chain risks vital to today–s globally-minded enterprise. Selectica also provides a powerful configuration engine, enabling Fortune 500 companies to accelerate revenue by facilitating the optimization of the right combination of products, services, and price. More information: and .
Selectica provides quarterly and annual financial statements that are prepared in accordance with generally accepted accounting principles (GAAP). To help understand the company–s past financial performance and future results, the company is providing non-GAAP financial measures to supplement the financial results that it provides in accordance with GAAP. The method the company uses to produce non-GAAP financial results is not computed according to GAAP and may differ from the methods used by other companies.
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.
Investor Relations:
Budd Zuckerman
+1-303-415-0200
Media Relations:
Selectica, Inc.
Erick Mott
+1-650-532-1551
@erickmott
You must be logged in to post a comment Login