E.PIPHANY Announces Record First Quarter Revenues of $14.4 Million
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First Quarter Revenues Increase 65% Sequentially and 661% Over Prior Year
License Revenue Grows 83% Sequentially and 628% Over Prior Year
SAN MATEO, Calif., April 17 /PRNewswire/ -- E.piphany, Inc. (Nasdaq: EPNY - news) today announced record revenues for the quarter ended March 31, 2000. For the quarter ended March 31, 2000, the company reported revenues of $14.4 million, representing an increase of 661% over revenues of $1.9 million in the first quarter of 1999 and an increase of 65% over the fourth quarter of 1999. License revenues were $8.3 million and service revenues were $6.1 million, or 57% and 43% of total revenues, respectively. Excluding a one-time in-process research and development charge and the amortization of stock-based compensation and goodwill, net loss for the quarter was $4.5 million, or $(0.16) per share, compared to a net loss of $3.4 million, or $(0.22) per pro forma share during the first quarter of 1999. Including the one-time charge and amortization of stock-based compensation and goodwill, net loss for the first quarter of 2000 was $67.0 million, or $(2.35) per share.
``This was a breakthrough quarter for E.piphany,' said Roger Siboni, president and chief executive officer of E.piphany. ``We achieved record revenue growth, completed the integration of RightPoint products, entered into a set of strategic acquisitions, fortified our balance sheet and added a tremendous group of new customers and employees.
``As a company, we continue to focus on the three crucial components of market leadership -- people, products and customers. With the integration of Octane, we will have more than 500 employees worldwide, doubling the size of our sales force and nearly doubling the size of our engineering team. By the end of the third quarter, we will offer a fully-integrated end-to-end solution that will deliver all of the necessary functionality for customer relationship management from intelligence to execution to ongoing interaction. And finally, our 37 new first quarter customers combined with Octane's 32 new first quarter customers, brings our total customer count to more than 170.'
Kevin Yeaman, chief financial officer, added, ``We're pleased that in a period of rapid growth and significant activity, we have been able to build an infrastructure that has allowed us to perform well against a variety of metrics. With cash and short-term investments of approximately $424 million, we plan to aggressively expand our footprint in the market with new products, new partners, and new customers.'
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 32E of the Securities and Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. These statements include statements regarding anticipated product releases, acquisition integration, and growth strategy. These statements are subject to risks and uncertainties and the Company's future actual results could differ materially from such forward-looking statements. Factors that could cause actual results to differ materially include changing competitive, market and general economic conditions. These factors and others are described in more detail in the Company's public reports filed with the Securities and Exchange Commission, such as those discussed in the ``Risk Factors' section included in the Company's prospectus for its recently-completed initial public offering.
E.piphany, Inc. is a provider of web-based software solutions that enable companies to Get, Keep and Grow customer relationships. The E.piphany E.4 system is an integrated suite of software solutions that allow businesses to collect, analyze and act on customer data from existing software systems as well as third-party data providers. Business users throughout the company have the ability to continuously identify and differentiate customers, then customize and personalize products, services and interactions based on customers' wants and needs. E.piphany, Inc. is headquartered in San Mateo, California.
NOTE: E.piphany, E.4, Get, Keep and Grow and the E.piphany logo are trademarks of E.piphany, Inc. All other trademarks are the property of their respective owners.
E.piphany Adds Record 37 New Customers in First Quarter
New Customers in the Quarter Included Alamo Rent A Car, Citrix, Credit Suisse First Boston, Instinet, McGraw-Hill and Mirage Resorts
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