Mattersight (MATR) Reports Prelim. Q2 Results
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Mattersight Corporation (NASDAQ: MATR), a leading provider of enterprise analytics, today announced preliminary bookings, revenues and pilot results for the second quarter ended June 30, 2014.
Incremental ACV Bookings and Book of Business
- Q2 incremental ACV bookings were $3.8 million
- Rolling four quarter incremental ACV bookings were $13.0 million, up 55% on a year over year basis
- Rolling four quarter incremental ACV bookings from existing accounts were up 52% on a year over year basis
- Rolling four quarter incremental ACV bookings from new accounts (i.e. customers for which Mattersight has recorded subscription revenues for less than one year) were up 72% on a year over year basis
- Q2 ending quarterly book of business was $8.7 million (~$35 million on an annualized basis), up 9% sequentially
Revenues
- Q2 revenues were $7.3 million, up 5% sequentially and up 14% year over year, excluding the Vangent/GDIT contract (the difference between quarterly book of business and quarterly revenues is contracted revenues currently being deployed)
- Q2 revenues from existing clients were up 15% year over year, excluding the Vangent/GDIT contract
- Q2 subscription revenues were 86% of total revenues, up 450 basis points year over year, excluding the Vangent/GDIT contract
(Note: Street sees Q2 revenue of $7.62 million.)
Pilots and Pilot Conversions
- 21 new pilots were signed in the second quarter, including 20 new Predictive Behavioral Routing (PBR) pilots
- Q2 ending pilots were a record 79, up 259% year over year, with an estimated follow on contract value of a record $39 million, up 229% year over year
- The Q2 ending pilots were comprised as follows: 19 PBR appliance pilots; 15 performance management and other analytics pilots; and 45 PBR impact analysis pilots
- 3 pilots (all PBR) were converted in Q2
- A record 9 pilots have been converted the last four quarters, up 50% year over year
Mattersight will hold its second quarter conference call on August 6, 2014.
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