After posting record-breaking revenues in 2015, Halogen Software’s CEO said Thursday the company will focus “on innovation in next-generation performance management” in the coming year.
“Our strategy focuses on growing our market share and existing customer share of wallet, by delivering solutions that amplify our competitive differentiation while helping our customers drive superior business outcomes,” Les Rechan said in a statement. “We'll refine our go-to-market strategy and align our investments in 2016 to improve our execution and productivity.”
Halogen posted 2015 fourth-quarter revenues of $17.2 million, up 14 per cent from the same quarter last year. Full-year revenues came in at record-breaking $65.7 million, up 16 per cent from last year.
At $15.7 million, recurring revenue made up 91 per cent of fourth-quarter revenues. Full-year recurring revenue was also 91 per cent of total revenues, at $59.5 million.
The company’s fourth-quarter gross margin was $12.9 million or 75 per cent of total revenue, compared with $10.7 million or 71 per cent of total revenue in the final quarter of 2014.
Halogen posted a fourth-quarter net loss of $2.6 million, down from $4.9 million last year. Its adjusted EBITDA improved to a loss of $100,000 in the quarter compared with $2.6 million in the fourth quarter of 2014.
As of Dec. 31, Halogen had $36.1 million worth of cash and investments, down from $44.2 million one year ago.
Looking ahead, the company is projecting 2016 first-quarter revenue of between $17.2 million and $17.4 million and full-year revenue between $72.6 million and $73.6 million.