This Day On The Street
Continue to site
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

SciQuest Announces Fourth Quarter And Full Year 2013 Financial Results

Posted Strong Quarterly and Annual Results

Attained 2013 Priorities

Generated Significant Growth in Commercial Market

CARY, N.C., Feb. 6, 2014 (GLOBE NEWSWIRE) -- SciQuest, Inc. (Nasdaq:SQI), a leading provider of cloud-based business automation solutions for spend management, today announced its financial results for the fourth quarter and full year ended December 31, 2013.

"2013 was an important year of execution that accelerated our transformation from a niche eProcurement solutions company to the leading provider of cloud-based spend management solutions. In the fourth quarter, we extended our track record of rapid growth. We increased non-GAAP revenues by 26% from a year ago, excluding a settlement fee we received. On this same basis, full-year revenue increased 37%. Strong non-GAAP revenue helped to generate non-GAAP net income per share that exceeded our guidance ranges. In addition, adjusted free cash flow beat expectations," said Stephen Wiehe, President and Chief Executive Officer of SciQuest. "Success was fueled by a combination of robust customer additions, solid cross-selling and the transformation of our sales organization that enhanced the team's people, processes and structure. We are particularly encouraged by the strong contribution from the commercial market, which complemented continued growth in other market segments. On the financial front, we are beginning to drive leverage from the operations we acquired in the second half of 2012. We also substantially completed operational integration of CombineNet.

"Looking ahead, we plan to leverage our successes and continue executing on the strategy that drove our performance in 2013: attract new customers, increase cross-selling, enhance and expand the solution suite and improve operational and financial efficiency, particularly at acquired entities. Our 2013 accomplishments and ongoing improvement efforts are expected to enable us to achieve our long-term targets of 20% non-GAAP revenue growth and 20% non-GAAP operating margins."

Fourth Quarter 2013 Results

SciQuest reported GAAP revenues of $25.8 million for the quarter ended December 31, 2013 compared to $19.7 million in the fourth quarter of 2012.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.79 0.10%
FB $101.98 0.07%
GOOG $682.32 -0.12%
TSLA $150.99 0.35%
YHOO $27.04 1.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs