PR Newswire
BELLEVUE, Wash., Aug. 2, 2017
BELLEVUE, Wash., Aug. 2, 2017 /PRNewswire/ -- Apptio, Inc. (NASDAQ:APTI), the business management system of record for hybrid IT, today announced results for the quarter ended June 30, 2017.
"In the second quarter, we achieved record revenue of $45.2 million, strong gross margins, and an improving bottom line," said Sunny Gupta, co-founder and CEO, Apptio. "We were pleased with continued progress toward our goals of accessing a broad market, shortening deployment times, and innovating on our hybrid IT and public cloud capabilities."
Second Quarter Financial Summary
Recent Business Highlights
Financial Outlook
Apptio provides guidance based on current market conditions and expectations and actual results may differ materially. Please refer to the company's comments below regarding Forward Looking Statements. Apptio is initiating guidance for the third quarter ending September 30, 2017 and for the full year 2017 as follows:
Third quarter of 2017:
Full year 2017:
All forward-looking non-GAAP financial measures contained in this section titled "Financial Outlook" exclude the effects of stock-based compensation expense.
Conference Call Information
Apptio plans to host a conference call today to discuss the results. The call is scheduled to begin at 2:00 p.m. PT/ 5:00 p.m. ET and can be accessed by dialing 844-233-0116 (passcode: 50339694), or if outside North America, by dialing 574-990-1011 (passcode: 50339694). Individuals may also access the live teleconference from the investor relations section of the Apptio website at investors.apptio.com. A replay will be available following completion of the live broadcast.
About Apptio
Apptio (NASDAQ: APTI) is the business management system of record for hybrid IT. We transform the way IT runs its business and makes decisions. With our cloud-based applications, IT leaders manage, plan and optimize their technology investments across on-premises and cloud. With Apptio, IT leaders become strategic partners to the business by demonstrating the value of IT investments, accelerate innovation and shift their technology investments from running the business to digital innovation. Hundreds of customers choose Apptio as their business system of record for hybrid IT. For more information, please visit www.Apptio.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding our strategy, prospects, customer demand, application adoption and our financial outlook for the third quarter of, and full year, 2017. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption "Risk Factors" and elsewhere in our filings with the U.S. Securities and Exchange Commission, including, without limitation, the Form 10-Q filed with the SEC on May 5, 2017. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update this information unless required by law.
Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with Generally Accepted Accounting Principles in the United States of America (GAAP), we use the following non-GAAP financial measures: non-GAAP gross margin, non-GAAP operating loss, non-GAAP net loss per basic and diluted share, and free cash flow. In computing these measures, with the exception of free cash flow, we exclude the effects of stock-based compensation expense. We define free cash flow as net cash used in operating activities, less the purchases of property and equipment. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and our non-GAAP measures may be different from non-GAAP measures used by other companies.
We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses and expenditures that may not be indicative of our ongoing core business operating results. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and planning, forecasting, and analyzing future periods.
For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables captioned "Results of Operations GAAP to Non-GAAP Reconciliation" included at the end of this release. We have not reconciled guidance for non-GAAP metrics to their most directly comparable GAAP measures because such items that impact these measures are not within our control or cannot be reasonably predicted.
Apptio, Inc. | ||||||||||||
Condensed Consolidated Statements of Operations | ||||||||||||
(In thousands, except per share amounts) | ||||||||||||
(Unaudited) | ||||||||||||
| ||||||||||||
| | Three Months Ended | | Six Months Ended | ||||||||
| | June 30, | | June 30, | ||||||||
| | 2017 | | 2016 | | 2017 | | 2016 | ||||
| | | | | | | | | | | | |
Revenue | | | | | | | | | | | | |
Subscription | | $ | 37,247 | | $ | 31,404 | | $ | 73,434 | | $ | 61,681 |
Professional services | | | 7,978 | | | 7,375 | | | 15,722 | | | 13,941 |
Total revenue | | | 45,225 | | | 38,779 | | | 89,156 | | | 75,622 |
Cost of revenue | | | | | | | | | | | | |
Subscription | | | 7,252 | | | 6,559 | | | 15,102 | | | 13,039 |
Professional services | | | 7,267 | | | 6,596 | | | 14,836 | | | 12,712 |
Total cost of revenue | | | 14,519 | | | 13,155 | | | 29,938 | | | 25,751 |
Gross profit | | | 30,706 | | | 25,624 | | | 59,218 | | | 49,871 |
Operating expenses | | | | | | | | | | | | |
Research and development | | | 10,263 | | | 8,626 | | | 19,921 | | | 17,057 |
Sales and marketing | | | 21,094 | | | 19,669 | | | 40,120 | | | 35,956 |
General and administrative | | | 6,620 | | | 5,504 | | | 13,154 | | | 10,684 |
Total operating expenses | | | 37,977 | | | 33,799 | | | 73,195 | | | 63,697 |
Loss from operations | | | (7,271) | | | (8,175) | | | (13,977) | | | (13,826) |
Other income (expense) | | | | | | | | | | | | |
Interest income (expense) and other, net | | | 264 | | | (377) Werbung Mehr Nachrichten zur APPTIO INC. CL.A Aktie kostenlos abonnieren
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