Eloqua Announces Record Third Quarter 2012 Results
Third Quarter Total Revenue Increases 30% to $23.8 Million; Third Quarter Subscription and Support Revenue Increases 32% to $21.6 Million
(firmenpresse) - VIENNA, VA -- (Marketwire) -- 10/24/12 -- Eloqua (NASDAQ: ELOQ), the marketing system of record for modern marketers, today announced financial results for the three month period ended September 30, 2012.
Joe Payne, Chief Executive Officer of Eloqua, stated, "Our continued strong execution, combined with the increasing demand for our Modern Marketing solutions and our ability to deliver proven value, enabled us to grow subscription and support revenue by 32% year-over-year. By managing a company's interactions with buyers through the entire purchasing process, our unmatched solutions are increasing marketing and sales effectiveness and enabling dramatically more predictable and profitable revenue growth for our customers." Payne added, "We are excited to have completed our initial public offering, which marked a major milestone in our history. This further enhances our brand and increases the resources we have available to execute our long-term plans and drive significant levels of growth."
Total revenue for the third quarter of 2012 was a record $23.8 million, an increase of 30% from $18.3 million in the third quarter of 2011. Subscription and Support revenue was $21.6 million, an increase of 32% from $16.4 million in the third quarter of 2011. Professional Services revenue was $2.2 million, an increase of 12% from $1.9 million in the third quarter of 2011.
GAAP operating loss for the third quarter of 2012 was $(2.0) million, compared to GAAP operating loss of $(1.1) million for the third quarter of 2011. GAAP net loss attributable to common stockholders was $(51.2) million or $(2.46) per basic and diluted share, based on 20.8 million weighted average shares outstanding. GAAP net loss attributable to common stockholders for the third quarter of 2012 includes $49.1 million of accretion of redeemable preferred stock expense. This compares to a GAAP net loss attributable to common stockholders of $(3.2) million or $(3.53) per basic and diluted share, based on 0.9 million weighted average shares outstanding, for the third quarter of 2011. GAAP net loss attributable to common stockholders for the third quarter of 2011 includes $2.0 million of accretion of redeemable preferred stock expense.
Non-GAAP operating loss for the third quarter of 2012 was $(0.9) million, compared to a non-GAAP operating loss of $(0.7) million for the third quarter of 2011. Non-GAAP net loss was $(1.0) million or $(0.03) per basic share, based on 33.8 million pro forma weighted average shares outstanding compared to a non-GAAP net loss of $(0.7) million for the third quarter of 2011, or $(0.02) per basic share, based on 32.6 million pro forma weighted average shares outstanding.
Cash and cash equivalents were $85.5 million as of September 30, 2012, compared to $5.0 million as of June 30, 2012 and $7.2 million as of December 31, 2011. The increase in cash was primarily the result of approximately $84.3 million in net proceeds that were raised through the Company's initial public offering, which was completed on August 7, 2012. Net cash used by operating activities was $(2.2) million for the third quarter of 2012, compared to net cash generated from operating activities of $1.5 million for the third quarter of 2011. Free cash flow used was $(4.1) million for the third quarter of 2012, compared to free cash flow of $0.8 million generated in the third quarter of 2011.
Announced that Chatter inside Eloqua was officially in beta with several customers currently using the product. Chatter inside Eloqua integrates Salesforce Chatter within the Eloqua platform, and is the first time that collaboration technology has been embedded into a marketing automation solution, demonstrating the advantages of Eloqua's open, modern platform.
Participated at Salesforce.com's Dreamforce 2012, the industry's largest cloud computing and enterprise technology conference. Eloqua's presence was widespread with many senior executives leading sessions, including taking part in 3 keynotes.
Announced promotion of Alex Shootman. In his role as President, Alex is responsible for Eloqua's customer-facing activities including sales, account management, customer success, industry solutions, professional services, support and channels.
Based on information available as of October 24, 2012, Eloqua is issuing guidance for the fourth quarter and full year 2012 as follows:
: The company expects total revenue for the fourth quarter to be in the range of $24.8 million to $25.2 million, non-GAAP operating loss to be in the range of $(0.6) million to $(1.0) million, and non-GAAP net loss per basic share to be in the range of $(0.02) to $(0.04). Eloqua's expectations of non-GAAP net loss per basic share for the fourth quarter exclude stock-based compensation expense, change in fair value of warrants, and income taxes, and assumes pro forma weighted average shares outstanding of approximately 34.2 million.
: The company expects total revenue for the full year 2012 to be in the range of $93.6 million to $94.0 million, representing year-over-year growth of approximately 32%, non-GAAP operating loss to be in the range of $(5.3) million to $(5.7) million, and non-GAAP net loss per common share to be in the range of $(0.17) to $(0.19). Eloqua's expectations of non-GAAP net loss per common share for the full year exclude stock-based compensation expense, changes in fair value of warrants, accretion of preferred stock and income taxes, and assumes pro forma weighted average shares outstanding of approximately 33.4 million.
Eloqua will host a conference call today, October 24, 2012 at 5:00 p.m. Eastern Time (ET) to discuss the company's third quarter financial results and its business outlook. To access this call, dial 877-705-6003 (domestic) or +1-201-493-6725 (international). The presentation will be webcast live and available in the investors section on the Company's website at under "Events & Presentations."
Following the conference call, a telephone replay will be available until October 31, 2012 at 877-870-5176 (domestic) or +1-858-384-5517 (international). The replay pass code will be 401196. An archived web cast of this conference call will also be available in the investor relations section on the Company's website at under "Events & Presentations."
This release contains forward-looking statements, including statements regarding Eloqua's future financial performance, market growth, the demand for and benefits from the use of Eloqua's solutions, and general business conditions. Any forward-looking statements contained in this press release are based upon Eloqua's historical performance and its current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Eloqua's expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Eloqua disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Further information on potential factors that could affect actual results is included in Eloqua's final prospectus related to its initial public offering filed pursuant to Rule 424b under the Securities Act with the SEC on August 2, 2012, and in other reports filed by Eloqua with the SEC.
Eloqua has provided in this release financial information that has not been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP. This information includes non-GAAP operating loss, non-GAAP net loss, non-GAAP net loss per share, pro forma weighted average shares outstanding and free cash flow. Non-GAAP operating loss is based on GAAP operating loss and excludes stock-based compensation expense; non-GAAP net loss is based on GAAP net loss and excludes accretion of dividends on redeemable preferred stock, stock-based compensation expense, change in fair value of warrants and income tax (benefit) expense; free cash flow is based on net cash (used in) provided by operating activities less purchases of property and equipment. Eloqua uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures in evaluating Eloqua's ongoing operational performance.
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measure. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables included as part of this press release.
Eloqua (NASDAQ: ELOQ) is the marketing system of record for modern marketers. The company's cloud software, professional services and education programs provide marketers with the technology and expertise needed to help marketing drive revenue. More than 100,000 global users from companies both large and small, rely on the power of Eloqua to improve and while driving more . Eloqua's customers include AON, Dow Jones, ADP, Fidelity, Polycom, and National Instruments. The company is headquartered in Vienna, Virginia. For more information, visit , subscribe to the blog, call 866-327-8764, or email .
Staci Mortenson
ICR
203-682-8273
Sheila Lahar
Eloqua
617-651-8137
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Datum: 24.10.2012 - 20:05 Uhr
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