Pending roll-out of a new platform brings opportunity and challenge
The highlights for FY2018-Q4 (CY2018-Q1) are as follows:
- Both service revenues and total revenues increased by ~ 20% in fiscal Q4.
- Service revenue from mid-market and enterprise customers increased 29% year-over-year and represented 60% of total service revenue – reflecting success in the company’s transformation efforts.
- Average monthly service revenue was $4,899 per enterprise customer and $469 per business customer – up 9% and 10% respectively.
- The company completed the acquisition of MarianaIQ in May – a move intended to strengthen the company’s AI and machine learning (and marketing automation) capabilities for enterprise communications.
- For the fiscal year, GAAP net loss was $104.5 million – including $71 million of non-cash, non-recurring tax charges as a result of the Tax Cuts and Jobs Act.
- During this fiscal year, the Company repurchased 1.4 million shares of common stock at an average price of $13.14 per share.