Mattersight Announces Fourth Quarter 2014 Results
(firmenpresse) - CHICAGO, IL -- (Marketwired) -- 02/11/15 -- Mattersight Corporation (NASDAQ: MATR), the leading provider of personality-based customer experience applications, today announced financial results for the fourth quarter ending December 31, 2014.
"The fourth quarter was a strong close to an impressive year for Mattersight," said Kelly Conway, Mattersight''s President and CEO. "We achieved record bookings, strong sequential revenue growth, record pilot activity, and solid progress toward best-in-class SaaS metrics."
Mr. Conway added, "In 2014, our personality-based applications helped some of America''s largest brands have hundreds of millions of more effective and more satisfying conversations with their customers. We believe our 2014 momentum positions us well to capitalize on the market opportunity in 2015 and beyond."
: Annual Contract Value bookings for the fourth quarter were $7.0 million. Total 2014 ACV bookings were $17.4 million, an increase of 46% on a year-over-year basis.
: Annualized Book of Business was a record $42.8 million for the fourth quarter, up 46% year-over-year.
: Total revenue for the fourth quarter was $8.3 million. Within total revenue, subscription revenue was $7.2 million. On top of the $8.3 million in total revenue in the fourth quarter, a record $2.4 million of quarterly revenue was in deployment. This revenue in deployment represents an increase of 281% on a year-over-year basis.
: In the fourth quarter, 22 new pilots were closed adding an additional $8.3 million of follow-on ACV opportunity. For fiscal year 2014, personality-based routing seats under contract increased 800% on a year-over-year basis.
: Mattersight continues to make solid progress in pursuit of top quartile SaaS metrics. For the fourth quarter, gross margin was 70%. For 2014, subscription revenue retention was 97%, while year-over-year existing net account growth was 12%.
Announced the departure of Mark Iserloth, Vice President and Chief Financial Officer. His resignation will be effective March 13, 2015, after the filing of Mattersight''s 2014 Annual Report Form 10-K. Mattersight has commenced a retained search for a new CFO. Mattersight veteran David Gustafson, Executive Vice President of Products and Customer Operations, will assume the responsibilities as interim CFO of the company, until a new CFO is hired.
Strengthened the leadership team with the addition of Jason Wesbecher, Executive Vice President and Chief Marketing Officer, Jon Walheim, Executive Vice President of Strategic Business Development, and Ryan Swanger, Senior Vice President Enterprise Sales. Mr. Wesbecher and Mr. Swanger are Mattersight alumni.
Added two new patents covering personality-based routing applications to its patent portfolio. The new patents bring Mattersight''s total U.S. patent portfolio to 13, and bolster the protection of Mattersight''s innovative Predictive Behavioral Routing solution.
Awarded back-to-back innovation awards, including the 13th annual Chicago Innovation Award and the TMC Labs'' CUSTOMER Magazine Innovation Award for 2014.
Expanded the footprint of personality-based applications into the for-profit educational market, with the announcement of an alliance with Educational Records Bureau to analyze student essays.
The Company realized an "Adjusted Earnings(1)" loss of $1.4 million for the fourth quarter of 2014. Adjusted Earnings is a non-GAAP measure. For a reconciliation of operating loss to Adjusted Earnings, see the accompanying schedule. Mattersight''s net loss was $3.5 million in the fourth quarter of 2014.
Mattersight management will host a conference call at 5:00 p.m. ET on Wednesday, February 11, 2015. The conference call and slide presentation will be available at the Investment Community section of Mattersight''s website at . To listen to the conference call via telephone, please call 800.952.4789 (domestic) or 404.665.9579 (international), conference ID: 33607328.
For those who cannot access the live broadcast, a replay of the conference call will be available beginning approximately two hours after the live call is completed until March 14, 2015, by dialing 855.859.2056 (domestic) or 404.537.3406 (international), conference ID: 33607328.
Statements in this press release that are not historical facts are "forward-looking statements" that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements, which may be identified by use of words such as "plan," "may," "might," "believe," "expect," "intend," "could," "would," "should," and other words and terms of similar meaning, involve risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In addition to other factors and matters contained or incorporated in this document, important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements include, among other things, the risks detailed from time to time in Mattersight''s SEC filings. You can locate these filings on the Investor Relations page of Mattersight''s website, . Statements included or incorporated by reference into this press release are based upon information known to Mattersight as of the date of this press release, and the company assumes no obligation to publicly revise or update any forward-looking statement for any reason.
Mattersight is a leader in enterprise analytics focused on customer and employee interactions and behaviors. captures and analyzes customer and employee interactions, employee desktop data and other contextual information to customers to the best available employee, improve operational performance, and predict future customer and employee outcomes. Mattersight''s analytics are based on millions of proprietary algorithms and the application of unique behavioral models. The company''s SaaS+ delivery model combines analytics in the cloud with deep customer partnerships to drive significant business value. Mattersight''s solutions are used by leading companies in Healthcare, Insurance, Financial Services, Telecommunications, Cable, Utilities, Education, Hospitality and Government. See What Matters™ by visiting .
(1) Mattersight presents Adjusted Earnings, a non-GAAP measure that represents cash earnings performance, excluding the impact of non-cash expenses and expense reduction activities, because management believes that Adjusted Earnings provide investors with a better understanding of the results of Mattersight''s operations. Management believes that Adjusted Earnings reflect Mattersight''s resources available to invest in its business and strengthen its balance sheet. In addition, expense reduction activities can vary significantly between periods on the basis of factors that management does not believe reflect current-period operating performance. Although similar adjustments for expense reduction activities may be recorded in future periods, the size and frequency of these adjustments cannot be predicted. The Adjusted Earnings measure should be considered in addition to, not as a substitute for or superior to, operating income, cash flows or other measures of financial performance prepared in accordance with GAAP.
Contact
Mark Iserloth
Vice President and Chief Financial Officer
312.454.3613
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