Ellie Mae (ELLI) Tops Q1 EPS by 13c; Raises Outlook
Ellie Mae (NYSE: ELLI) reported Q1 EPS of $0.33, $0.13 better than the analyst estimate of $0.20. Revenue for the quarter came in at $54.2 million versus the consensus estimate of $46.64 million.
Ellie Mae sees Q2 2015 EPS of $0.28-$0.30, versus the consensus of $0.24. Ellie Mae sees Q2 2015 revenue of $59-60 million, versus the consensus of $51.9 million.
Ellie Mae sees FY2015 EPS of $1.09-$1.13, versus the consensus of $0.93. Ellie Mae sees FY2015 revenue of $223-226 million, versus the consensus of $206.4 million.
“We had a great start to the year with an outstanding first quarter,” said Jonathan Corr, president and CEO of Ellie Mae. “In addition to another highly successful Encompass user experience, the quarter ended with financial results that exceeded our revenue, net income and adjusted EBITDA objectives. Our clients closed more loans than expected due to origination volumes that were above initial industry forecasts, but our customers also outpaced the mortgage industry as a whole. On top of this, our active user base increased by nearly ten thousand seats and we continued to drive customer adoption across our product portfolio. Combined, these factors helped grow average revenue per user by 38%. Our results demonstrate the leverage in our business model when expectations are exceeded across multiple fronts.”
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