Jive Software total revenue increases 21% in Q4

Jive Software, Inc. (NASDAQ: JIVE) said that total revenue for the fourth quarter of 2013 was USD39.3m, an increase of 21% on a year-over-year basis.

Within total revenue, product revenue was USD35.8m for the fourth quarter, an increase of 25% on a year-over-year basis. Professional services revenue for the fourth quarter was USD3.5m, compared to USD3.9m in the fourth quarter of 2012.

Short-term billings, which Jive defines as revenue plus the change in short-term deferred revenue, were USD53.1m for the fourth quarter, an increase of 16% on a year-over-year basis. Total billings, which Jive defines as revenue plus the change in short and long-term deferred revenue, was USD58.9m, an increase of 13% on a year-over-year basis.

GAAP gross profit for the fourth quarter was USD24.7m, compared to USD20.5m for the fourth quarter of 2012. Non-GAAP gross profit was USD26.9m for the fourth quarter, an increase of 24% year-over-year, and non-GAAP gross margin was 68%, representing approximately 100 basis points of margin improvement compared to the fourth quarter of 2012.

GAAP loss from operations for the fourth quarter was USD22.0m, compared to a loss of USD15.7m for the fourth quarter of 2012. Non-GAAP loss from operations was USD10.5m, compared to a non-GAAP loss from operations of USD8.9m for the fourth quarter of 2012.

GAAP net loss for the fourth quarter was USD22.3m, compared to a net loss of USD15.6m for the same period last year. GAAP net loss per share for the fourth quarter was USD0.32, based on 68.8m weighted-average shares outstanding, compared to a net loss per share of USD0.24, based on 64.2m weighted-average shares outstanding for the same period last year.

Non-GAAP net loss for the fourth quarter was USD10.7m, compared to a net loss of USD9.1m for the same period last year. Non-GAAP net loss per share for the fourth quarter was USD0.16, based on 68.8m weighted-average shares outstanding, compared to a net loss per share of USD0.14, based on 64.2m weighted-average shares outstanding for the same period last year.

Total revenue was USD145.8m for fiscal 2013, an increase of 28% on a year-over-year basis. Within total revenue, product revenue was USD131.5m for fiscal 2013, an increase of 31% on a year-over-year basis. Services revenue for fiscal 2013 was USD14.3m, an increase of 5% on a year-over-year basis.

Short-term billings, which Jive defines as revenue plus the change in short-term deferred revenue, were USD170.5m for fiscal 2013, an increase of 23% on a year-over-year basis. Total billings, which Jive defines as revenue plus the change in short and long-term deferred revenue, were USD176.1m, an increase of 15% on a year-over-year basis.

GAAP gross profit was USD90.5m fiscal 2013, compared to USD68.8m for fiscal 2012. Non-GAAP gross profit was USD97.8m for fiscal 2013, representing a year-over-year increase of 33% and a non-GAAP gross margin of 67%.

GAAP loss from operations was USD76.0m for fiscal 2013, compared to a loss of USD47.1m for fiscal 2012. Non-GAAP loss from operations was USD36.3m for fiscal 2013, compared to a loss of USD26.2m for fiscal 2012.

GAAP net loss for fiscal 2013 was USD75.4m, compared to a USD47.4m net loss for fiscal 2012. GAAP net loss per share for fiscal 2013 was USD1.12 based on 67.4m weighted-average shares outstanding, compared to a loss per share of USD0.76 based on 62.6m weighted-average shares outstanding for fiscal 2012.

Non-GAAP net loss for fiscal 2013 was USD37.1m, compared to a USD26.9m net loss for fiscal 2012. Non-GAAP net loss per share for fiscal 2013 was USD0.55, based on 67.4m weighted-average shares outstanding, compared to a non-GAAP net loss per share of USD0.43 based on 62.6m weighted-average shares outstanding for fiscal 2012.

Jive is the communication and collaboration platform for modern, mobile business. Recognized as a leader in social business by the industry´s top analyst firms, Jive´s cloud-based platform connects employees, customers and partners. More information can be found at www.jivesoftware.com

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