Halogen has record-breaking fiscal 2014

Halogen Software wrapped up a record-breaking fiscal 2014 with a record-breaking fourth quarter, CEO Paul Loucks said Thursday.

“It was our best quarter ever in terms of net customer adds,” Mr. Loucks said in a statement, crediting the company’s aggressive investment in sales and marketing.

Halogen posted a record $50.8 million in recurring revenue for the year, up 21 per cent from 2013. Recurring revenue accounted for 90 per cent of total revenue this year.

That total revenue, a record $56.7 million, was up 18 per cent from 2013, while revenue generated outside North America increased a whopping 64 per cent.

Halogen posted record recurring revenue for the fourth quarter as well at $13.6 million, an increase of 21 per cent over 2013. Total revenue of $15.1 million was up 20 per cent from the fourth quarter a year earlier. Deferred revenue for the quarter was another record-breaker, with a 21 per cent increase to $32.8 million.

Halogen’s gross margin was $10.7 million, or 71 per cent of total revenue in the fourth quarter of 2014, compared with $9.6 million, or 76 per cent of total revenue, in the same quarter a year earlier.

Fourth-quarter net loss was $4.9 million, compared with $2.1 million in the same quarter of 2013.

Mr. Loucks said Halogen has momentum as it enters fiscal 2015.

“We expect continued strong organic growth and are focused on continuing to invest both in domestic and international markets,” he said.

The company is projecting total revenue of between $15.7 million and $15.9 million in the first quarter of 2015. For the year, it is projecting total revenue of between $66.9 and $67.7 million.