A reconciliation of the non-GAAP financial measures to their related GAAP financial measures is set forth below.Key Operating Metrics as of and for the quarter ended September 30, 2012:
- On-demand revenue increased 92% year over year to $24.0 million, comprising approximately 88% of total revenues for the quarter;
- The total number of users, both lender and broker, actively using the company’s Encompass ® enterprise solution (“active Encompass users”) increased 30% year over year to 67,201;
- Revenue per average active Encompass user increased 45% year over year to $419;
- As of the end of the third quarter, the number of users of the SaaS version of Encompass increased 67% year over year to 35,677, or 53% of all active Encompass users; and
- Total SaaS Encompass revenues increased 163% year over year to $13.4 million or 49% of total revenue for the quarter.