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NetSuite delivers revenue growth

NetSuite delivers revenue growth

Reveals details about fourth quarter and fiscal 2015 financial results

NetSuite delivers revenue growth

NetSuite delivers revenue growth

Cloud-based financials company, NetSuite, has announced the operating results for its fourth quarter and fiscal year ending December 31, 2015.

The company said its total revenue for the fourth quarter of 2015 was $US206.2 million, representing a 31 per cent increase over the prior year. Total revenue for the year was $US741.1 million, a YoY increase of 33 per cent.

It added that cash flow from operations was $US100.4 million for the year, an increase of $US25.5 million, or 34 per cent over the prior year.

On a GAAP basis, its net loss for the fourth quarter of 2015 was $US32.4 million, or a loss of $US0.41 per share, as compared to a net loss of $US25.3 million, or a loss of $US0.33 per share, in the fourth quarter of 2014.

Its GAAP net loss for the year was $US124.7 million, or a loss of $US1.59 per share, as compared to a GAAP net loss of $US100 million, or a loss of $US1.31 per share, in 2014.

Non-GAAP net income for the fourth quarter of 2015 was $US4.3 million, or $US0.05 per share, as compared to non-GAAP net income of $US7.5 million, or $US0.10 per share, in the fourth quarter of 2014.

Non-GAAP net income for the year ending December 31, 2015 was $US17.7 million, or $US0.22 per share, as compared to non-GAAP net income of $US25 million, or $US0.32 per share, in 2014.

NetSuite CEO, Zach Nelson, said NetSuite delivered revenue and record customer growth as thousands of next-generation businesses like Snapchat, mid-size organisations like Lucky Brand, and global enterprises such as American Express Global Business Travel adopted the Cloud on NetSuite.

“In 2016, the wind is at NetSuite’s back as the world transitions from a time just a couple years back, when few believed that businesses would run mission critical core business applications in the Cloud, to today when companies in many industries can’t get there fast enough," he added.

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Tags revenue growthnetsuiteNetSuite chief executive Zach NelsonfinancialsCloud

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