Model N (MODN) Tops Q2 EPS by 4c; Issues Light Q3 EPS Outlook

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Model N Announces Second Quarter of Fiscal Year 2016 Financial Results

May 9, 2016 4:16 PM EDT

REDWOOD CITY, Calif.--(BUSINESS WIRE)-- Model N, Inc., (NYSE: MODN), the leading provider of cloud-based Revenue Management solutions to life science, technology and manufacturing companies, today announced financial results for the second quarter of fiscal year 2016, which ended March 31, 2016.

During the second quarter of our fiscal year, the pace of the ongoing transformation of the Model N business to a predominantly recurring SaaS business model again exceeded our expectations. SaaS and Maintenance revenue grew 64% year over year and represented 81% of our total revenue in the quarter, up from 57% only a year ago, said... More