This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Jive Software Announces First Quarter 2013 Financial Results

  • 1Q total revenue of $33.9 million, up 34% year-over-year
  • 1Q product revenue of $30.7 million, up 41% year-over-year
  • 1Q total billings of $38.2 million, up 35% year-over-year
  • Generated $5.8 million of cash from operations and $3.0 million of free cash flow

PALO ALTO, Calif., April 30, 2013 (GLOBE NEWSWIRE) -- Jive Software, Inc. (Nasdaq:JIVE), a leader in social business, today announced financial results for its first quarter ended March 31, 2013.

"The first quarter was a solid start to the year, and it was highlighted by over 40% growth in product revenue and positive free cash flow for the first time since Jive became a public company," stated Tony Zingale, Chairman & CEO of Jive. "We continue to see growing evidence that the social business market is moving to the mainstream in 2013, including blue chip customers signing multi-million dollar, multi-year commitments with Jive. We believe that Jive is well positioned to capitalize on this market trend as a result of our differentiated business value proposition, product innovation leadership, growing sales pipeline and increased investments in sales and partnerships."

First Quarter 2013 Financial Highlights

  • Revenue: Total revenue for the first quarter was $33.9 million, an increase of 34% on a year-over-year basis. Within total revenue, product revenue was $30.7 million for the first quarter, an increase of 41% on a year-over-year basis. Professional Services revenue for the first quarter was $3.2 million, a decrease of 13% on a year-over-year basis.  
  • Non-GAAP Billings: Total billings, which Jive defines as revenue plus the change in total deferred revenue, were $38.2 million for the first quarter, an increase of 35% on a year-over-year basis.  
  • Gross Profit: GAAP gross profit for the first quarter was $20.8 million, compared to $14.7 million for the first quarter of 2012. Non-GAAP gross profit was $22.1 million for the first quarter, representing a year-over-year increase of 42% and a non-GAAP gross margin of 65%, representing a 300 basis point gross margin improvement compared to the first quarter of 2012.  
  • Loss from Operations: GAAP loss from operations for the first quarter was $16.6 million,compared to a loss of $8.8 million for the first quarter of 2012. Non-GAAP loss from operations was $9.6 million,compared to a loss of $5.1 million for the first quarter of 2012.  
  • Net Loss: GAAP net loss for the first quarter was $16.6 million, compared to a net loss of $8.9 million for the same period last year. GAAP net loss per share for the first quarter was $0.25 based on 65.5 million weighted-average shares outstanding, compared to a loss per share of $0.15 based on 61.4 million weighted-average shares outstanding for the same period last year.

Non-GAAP net loss for the first quarter was $9.6 million, compared to a net loss of $5.2 million for the same period last year. Non-GAAP net loss per share for the first quarter was $0.15 based on 65.5 million weighted-average shares outstanding, compared to net a loss per share of $0.09 based on 61.4 million weighted-average shares outstanding for the same period last year.

  • Balance Sheet and Cash Flow: As of March 31, 2013, Jive had cash and cash equivalents and marketable securities of $173.5 million, an increase from $168.1 million at the end of the fourth quarter.

The company generated $5.8 million in cash from operations and invested $2.8 million in capital expenditures, leading to free cash flow of $3.0 million for the first quarter. Free cash flow was ($1.3) million for the first quarter of 2012. Free cash flow is defined as cash flows provided by operating activities minus cash flows used to purchase capital expenditures.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,563.30 -317.06 -1.88%
S&P 500 1,930.67 -39.40 -2.00%
NASDAQ 4,369.7730 -93.1290 -2.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs