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

Ellie Mae Reports Second Quarter 2014 Results

Ellie Mae® (NYSE: ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, today reported results for the second quarter ended June 30, 2014.

Second Quarter Highlights
  • Revenue of $40.0 million compared to $34.3 million in Q2 2013
  • Net income of $4.4 million compared to $3.7 million in Q2 2013
  • Adjusted EBITDA of $13.2 million compared to $11.7 million in Q2 2013
  • 98,996 active Encompass ® users as of June 30, 2014, up 12% year over year
  • 72,085 active SaaS Encompass users as of June 30, 2014, up 29% year over year

“Our second quarter performance was outstanding,” said Sig Anderman, CEO of Ellie Mae. “Our business momentum continued to be driven by onboarding more users to our SaaS Encompass platform and ramping their usage of our on-demand services. Our results also highlighted the upside leverage in our business model when mortgage origination volumes uptick as they did on a sequential basis in the second quarter.”

“Second quarter Encompass seats booked were strong, with particularly notable growth in new customers as lenders continued to embrace our comprehensive solutions to meet their operational efficiency and regulatory compliance needs,” continued Mr. Anderman.

“Our pipeline remains strong and we are maintaining our guidance for the full year despite the forecasts of further declines in mortgage origination volume this year,” concluded Mr. Anderman.

Financial Results

Total revenue for the second quarter of 2014 increased 17% to $40.0 million, compared to $34.3 million in the second quarter of 2013. Net income for the second quarter of 2014 was $4.4 million, or $0.15 per diluted share, compared to net income of $3.7 million, or $0.13 per diluted share, in the second quarter of 2013.

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


Chart of I:DJI
DOW 17,131.86 +47.37 0.28%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,838.6430 +8.1730 0.17%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs