Amber Road Announces Third Quarter 2016 Financial Results

Amber Road, Inc. (NYSE: AMBR), a leading provider of global trade management (GTM) solutions, today announced its financial results for the third quarter ended September 30, 2016.

Jim Preuninger, Chief Executive Officer of Amber Road, stated, "During the third quarter, we delivered healthy bookings and saw demand across a broad range of offerings in our suite. We expanded our relationship with a key existing customer by signing one of the largest deals in our history. This highlights our leadership and competitive advantage in the marketplace, and demonstrates our ability to work with the world's largest enterprise companies to help them automate and simplify their global trade functions. We are effectively and consistently executing against the market opportunity by attracting new customers and expanding within our existing base. We continue to take meaningful steps towards profitability and are moving our company back towards cash flow breakeven."

Third Quarter 2016 Financial Highlights

Revenue
  • Total revenue was $18.9 million, an increase compared to $17.3 million for the comparable period of 2015.
  • Subscription revenue was $14.1 million, an increase compared to $12.1 million for the comparable period of 2015.
  • Professional Services revenue was $4.8 million, compared to $5.2 million for the comparable period of 2015.

Operating Loss
  • GAAP operating loss was $(3.5) million, compared to $(6.0) million for the comparable period of 2015.
  • Non-GAAP adjusted operating loss (1) was $(1.7) million, compared to $(4.0) million for the comparable period of 2015.

Net Loss
  • GAAP net loss was $(3.8) million, compared to $(6.3) million for the comparable period of 2015.
  • GAAP basic and diluted net loss per common share was $(0.14), compared to $(0.24) for the comparable period of 2015, based on 26.8 million and 26.2 million basic and diluted weighted average common shares outstanding, respectively.
  • Non-GAAP adjusted net loss (1) was $(2.0) million, compared to $(4.3) million for the comparable period of 2015.
  • Non-GAAP adjusted net loss per common share was $(0.08), compared to $(0.16) for the comparable period of 2015, based on 26.8 million and 26.2 million basic and diluted weighted average common shares outstanding, respectively.

Adjusted EBITDA
  • Adjusted EBITDA was $16,140 for the three months ended September 30, 2016 and $(2.2) million for the comparable period of 2015.

Balance Sheet and Cash Flow
  • Cash and cash equivalents at September 30, 2016 totaled $15.6 million, compared to $17.9 million at December 31, 2015.
  • Cash used in operating activities was $(38,854) for the first nine months of 2016, compared to cash used in operating activities of $(10.8) million for the first nine months of 2015.

A reconciliation of GAAP operating loss and net loss to Non-GAAP adjusted operating loss and net loss, of GAAP net loss to Adjusted EBITDA and of GAAP total revenue to Non-GAAP total revenue 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."

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