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Jive Software Announces Third Quarter 2013 Financial Results

Third Quarter and Recent Business Highlights

  • Signed new and expanded customer relationships including Cameron International, FICO, FireEye, Gasco, Goldman Sachs, Huntsman, Lahey Health, Okta, RadioShack, SAIC, ServiceNow and a large German automobile manufacturer, among others.
  • Recognized by Gartner, a leading analyst firm, as a leader in its "Social Software in the Workplace" Magic Quadrant report. This is the fifth consecutive year Jive has been a leader in this Magic Quadrant report.
  • Announced the Jive Fall Cloud release, which includes a revamped social directory that helps people find and share expertise, a new social task system, new real-time communications options, and seamless integration with Google Drive and Gmail, among others business applications.  Additionally, Jive introduced Jive x, a new cloud version of its industry-leading external community platform with a mix of popular features such as advanced gamification and deep integration with Facebook and Twitter, which brings social conversations into a central connected hub. 
  • Expanded our global presence in the third quarter, opening offices in Sweden, The Netherlands and Paris and hiring dedicated sales and sales engineering teams at each location. Jive also entered the Japanese market during the third quarter with a customized, local version of the Jive platform and a dedicated sales team in Tokyo.
  • Recently hosted our 5 th annual JiveWorld customer conference in Las Vegas, the industry's largest event purely focused on social business. In attendance were more than 1,600 customers and partners, with industry leaders such as Eloqua (Oracle), Fidelity, Hitachi Data Systems, Mylan, Steelcase, Thomson Reuters, T-Mobile, and Northwestern University among others, spoke about the proven business value companies can realize when deploying enterprise social networks and customer communities.
  • Announced Okta Cloud Connect for Jive, which is part of a new partnership between Jive and Okta, a leading cloud-based provider of enterprise-grade identity management services. Okta Cloud Connect for Jive gives people seamless and secure identity management and single sign-on access to any number of business apps in the Jive platform. This is offered at no additional cost to the consumer.

Financial Outlook

As of October 30, 2013, Jive is initiating guidance for its fourth quarter 2013 and updating its guidance for the full year 2013, as follows:
  • Fourth Quarter 2013 Guidance: Total revenue is expected to be in the range of $38.5 million to $39.5 million. Non-GAAP loss from operations is expected to be in the range of $10.5 million to $11.5 million. Non-GAAP loss per share is expected to be in the range of $0.15 to $0.17 based on approximately 69.1 million weighted-average diluted shares outstanding in the fourth quarter of 2013.
  • Full Year 2013 Guidance: Total revenue is expected to be in the range of $145.0 million to $146.0 million. Non-GAAP loss from operations is expected to be in the range of $36.4 million to $37.4 million. Non-GAAP loss per share is expected to be in the range of $0.55 to $0.57 based on approximately 67.6 million weighted-average diluted shares outstanding. Free cash flow is expected to be in the range of negative $17.0 to $19.0 million. 

With respect to the Company's expectations under "Financial Outlook" above, the Company has not reconciled non-GAAP loss from operations or non-GAAP loss per share to GAAP loss from operations and GAAP loss per share because the Company does not provide guidance for stock-based compensation, income taxes or amortization of intangible assets, which are reconciling items between those Non-GAAP and GAAP measures. As certain items that impact loss from operations and loss per share are out of the Company's control and/or cannot be reasonably predicted, the Company is unable to provide such guidance. Accordingly, a reconciliation to loss from operations and loss per share is not available without unreasonable effort.

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