Stock Monitor: Collectors Universe Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 05, 2017 / Active-Investors free earnings report on Apptio, Inc. (NASDAQ: APTI) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=APTI. Apptio reported its third quarter fiscal 2017 operating results on October 30, 2017. The provider of cloud-based business management services outperformed top- and bottom-line expectations and provided guidance for the upcoming quarter and full year. Register today and get free access to our complimentary member's area where many more reports are available:
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Earnings Highlights and Summary
For the three months ended September 30, 2017, Apptio's total revenue jumped 16% to a record $47.0 million compared to revenue of $40.63 million in Q3 2016. Revenue was driven by a broad contribution across the Company's 5 application families, including Cost Transparency and IT Planning. Apptio's revenue topped analysts' expectations of $44.8 million.
For Q3 2017, Apptio's GAAP gross margin was 70%, an all-time high, reflecting a significant improvement from Q3 2016 GAAP gross margin of 66%. The Company's non-GAAP gross margin for the reported quarter improved to a record 72% compared to non-GAAP gross margin of 67% in the prior year's same quarter.
During Q3 2017, Apptio posted GAAP operating margin of negative 11%, improving from GAAP operating margin of negative 17% in Q3 2016. The Company's non-GAAP operating margin improved to negative 2% in the current quarter compared to non-GAAP operating margin of negative 11% in year-ago same period.
Apptio's GAAP net loss was $5.17 million, or $0.13 per diluted share, compared to a GAAP net loss of $8.76 million, or $0.63 per diluted share, for Q3 2016. The Company's non-GAAP net loss per basic and diluted share was $0.02 in the reported quarter compared to a non-GAAP net loss per basic and diluted share of $0.45 for the year-earlier same quarter. Apptio's reported numbers were better than Wall Street's expectations of $0.10 per share.
Apptio's Revenue Details
During Q3 2017, Subscription revenue advanced 18% to $39.43 million on a y-o-y basis compared to revenue of $33.31 million in Q3 2016. Subscription revenue for the reported quarter was comprised 84% of total revenue. The Company's Q3 2017 subscription gross margin was 83%, an improvement from 80% in Q3 2016.
Services revenue for the reported quarter climbed 4% to $7.57 million versus revenue of $7.31 million in the year-ago same period. The Company's Q3 2017 professional services gross margin was 15% up from 6% in Q3 2016, driven by strong cost management and revenue-generating TBM Council activity during the reported quarter.
For the three months ended September 30, 2017, Apptio's net cash provided by operating activities was $9.1 million compared to net cash used in operating activities of $0.8 million in the year ago comparable period. The Company's free cash flow totaled $8.5 million for the reported quarter compared to negative $2.0 million in the three months ended September 30, 2016.
Apptio's cash, cash equivalents, and marketable securities were approximately $135.5 million as of September 30, 2017.
For Q4 2017, Apptio is forecasting total revenue to be in the range of $49.5 million to $50.0 million. The Company is expecting non-GAAP operating loss between $3.5 million and $4.0 million for the upcoming quarter.
For full-year 2017 Apptio is projecting total revenue to be in the band of $185.7 million and $186.2 million and non-GAAP operating loss between $10.9 million and $11.4 million.
Stock Performance Snapshot
December 04, 2017 - At Monday's closing bell, Apptio's stock fell 2.00%, ending the trading session at $22.03.
Volume traded for the day: 359.36 thousand shares.
Stock performance in the last three-month – up 25.89%; previous six-month period – up 30.59%; past twelve-month period – up 20.78%; and year-to-date – up 18.89%
After yesterday's close, Apptio's market cap was at $884.06 million.
The stock is part of the Services sector, categorized under the Business Services industry. This sector was up 0.8% at the end of the session.
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