GAINESVILLE, FL / ACCESSWIRE / April 24, 2018 / SharpSpring, Inc. (SHSP), a leading cloud-based marketing automation platform, secured 223 new customers for its flagship marketing automation platform during the first quarter of 2018, up 6% from Q1 of last year.
At quarter-end, the company had 1,414 agency partners and more than 6,950 businesses using its marketing automation platform. Recurring revenue from the new customer additions over the first year are expected to be approximately $1.6 million.
"Coming off two consecutive quarters of record new customer wins, our results for the first quarter were in line with our previously stated expectations, which reflect the typical seasonality we experience in Q1," said company CEO Rick Carlson.
"We continue to execute against our strategic plan and are on pace to reach our customer acquisition goals for 2018. Our recent $8 million financing bolstered our balance sheet, allowing us to strategically ramp sales and marketing initiatives to accelerate customer acquisition and revenue growth. And in addition to strengthening our balance sheet, we have also further solidified our leadership team, as evidenced by our recent appointments of Jeff Imm to the new position of COO and Dan Allen to our Board of Directors. Put together, SharpSpring is in excellent position for both 2018 and the years ahead."
SharpSpring plans to report its complete financial results for the first quarter of 2018 in May. The conference call details will be announced approximately a week prior to the call.
Please note that starting this quarter, the Company recalibrated its agency partner count, causing a reduction in the total number of agency partners. This one-time recalibration was the result of refinements to the counting methodology, and not the result of lost customers.
About SharpSpring, Inc.
SharpSpring, Inc. (SHSP) is a rapidly growing, highly-rated global provider of affordable marketing automation delivered via a cloud-based Software-as-a Service (SaaS) platform. Thousands of businesses around the world rely on SharpSpring to generate leads, improve conversions to sales, and drive higher returns on marketing investments. Known for its innovation, open architecture and free customer support, SharpSpring offers flexible monthly contracts at a fraction of the price of competitors making it an easy choice for growing businesses and digital marketing agencies. Learn more at www.sharpspring.com.
Important Cautions Regarding Forward-Looking Statements
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continues," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, our ability to successfully utilize our cash to develop current and future products, delays due to issues with outsourced service providers, those events and factors described by us in Item 1.A "Risk Factors" in our most recent Form 10-K and other risks to which our Company is subject, and various other factors beyond the Company's control. Except to the extent required by law, the Company undertakes no obligation to update or revise (publicly or otherwise) any forward-looking statements to reflect subsequent events, new information or future circumstances.
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SOURCE: SharpSpring, Inc.