Another key component of our business strategy, in addition to our multi-vertical domain expertise and effective and efficient research and development, is the leverage inherent in the recurring revenue generated by our cloud-based software delivery model. In part because our customers are required to make periodic payments to continue receiving access to our cloud-based products and services, we have established long-term relationships with our customers, many of which are governed by multi-year contracts that have historically high renewal rates. The consistent revenue stream provided by our recurring revenue model, coupled with our relatively high gross margins, allow us to drive revenue growth more consistently over time through investment in lead generation, sales and marketing. In order to ensure that we are effectively leveraging our cloud-based model, we closely monitor and manage the revenue growth rates, along with the gross margins, number of customers and a variety of customer retention and sales efficiency metrics, at each of our businesses. In the first half of 2015:
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•§Bolt's revenue grew approximately 13% revenue growth in the six-month period ended June 30, 2015 from the corresponding prior year period. During the six months ended June 30, 2015, Bolt served approximately 2,100 independent commercial and personal property and casualty insurance agent customers, six large commercial and personal property and casualty insurance carrier-agency customers, five customers who are non-traditional sellers of commercial and personal property and casualty insurance products and one state commercial and personal property and casualty insurance exchange customer;
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•§FolioDynamix’s revenue grew 23% from the corresponding six-month prior year period (for which Actua did not own FolioDynamix), and, during the six months ended June 30, 2015, it served over 200 financial services organizations, such as brokerage firms, banks (trust and retail), large RIAs and RIA networks and other fee-based managed account providers;
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•§GovDelivery’s revenue grew approximately 25% from the corresponding six-month prior year period, and, during the six months ended June 30, 2015, it served over 1,000 government entities, agencies and organizations at the national, state and local levels in both the United States and Europe; and
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•§MSDSonline’s revenue grew approximately 41% from the corresponding six-month prior year period. During the six months ended June 30, 2015, MSDSonline served close to 11,000 customers; approximately 75% are platform customers, consisting of large and mid-market North American businesses in a wide variety of industries.
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