This week, Jive Software released their Third Quarter financial results. The released figures, which show the businesses progress as of September 30, show a positive quarter for the company with improvements to many of their financial sectors.
The company has ended the third quarter with 761 customers, an increase of 54 from the second quarter of 2012, but this isn't the only change. Some of the highlights from Jive's financial report include:
- Revenue: There are three parts of revenue statistics: total company revenue, product revenue and professional services revenue. The total company revenue for this quarter was US$ 28.9 million, an increase of 39 percent on the year-over-year basis. Product revenue was up 48 percent in the year-over-year basis, ending the quarter at US$ 25.9 million. Professional Services was the only revenue to decrease at nine percent on the year-over-year basis to finish the quarter at US$ 3 million.
- Non-GAAP billings: Total billings increased 47 percent over the last year, ending at US$ 38.9 million for the third quarter.
- Gross Profit: GAAP gross profit was at US$ 17.6 million for the third quarter, an increase of about six million from last year, while Non-GAAP gross profit increased 52 percent to end the quarter at US$ 18.9 million.
- Loss from Operations: Loss of Operations profits weren't as successful as the other financial sectors. GAAP loss from operations is down a million from last year, finishing the quarter at US$ 11.2 million, while non-GAAP loss of operations came in at US$ 5.5 million, down from US$ 7.4 million in 2011.
- GAAP Net Loss: Overall, the GAAP net loss improved from 2011. It went up from US$ 11.3 million from 2011’s US$ 7.6 million.
- Non-GAAP Net Loss: Non-GAAP net loss also experienced a drop in the third quarter. It finished at US$ 5.6 million, down from US$ 8.0 million in the previous year.
A Good Year for Jive
While some of Jive’s earnings weren't as favourable as the Third Quarter of 2011, the company continues to make strides and bolster its offerings through new partnerships within the industry.
In October, they announced a new iPad app, Jive Present, which aims to help companies with sale presentations and training.
They've expanded and entered into new partnerships including one with Box, with promises of integration between the two company's offerings in early 2013. Other partnerships include Chubb Insurance, NASCAR, Good Technology and F5 Networks.
Recently, Jive announced acquisition of two companies, Meetings.io, a real-time communication platform and Producteev, a cloud based social task management system to improve how businesses work and collaborate together.
It was also recently recognized as an industry leader in the Gartner's Magic Quadrant for Social Software in the Workplace and the Magic Quadrant for Social CRM.