- Bookings in the quarter were the second highest in the company’s history, with year to date activity ahead of the entire full year of 2011 by 34%, exceeding internal expectations.
- Record revenues for the quarter of $55.8 million increased 21% year over year, exceeding the company’s long-term revenue growth target of 20%.
- For the quarter, non-Rave revenues increased 142% year over year and 27% sequentially. Year to date, non-Rave revenues grew 145% year over year.
- Total customers were up 28% over last year, to a record 333, a net increase of 72 customers year over year. Six current customers upgraded to enterprise deals from study-by-study arrangements in the quarter, highlighting the increasing adoption of the Medidata platform. These new enterprise customers include Sanofi, one of the world’s leading pharmaceutical companies; Otsuka Pharmaceutical, one of Japan’s top 10 pharmas; and a Top 5 contract research organization.
- Current customers contracting for additional products grew by 50% over last quarter, showing continued growth in the Medidata Clinical Cloud platform. Customers with multiple products now account for over 35% of the total customer base.
Medidata Solutions Reports Third Quarter 2012 Results
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