Model N (MODN) Rides On Revitas Buyout And Customer Wins
Zacks Investment Research | Sep 25, 2017 09:40PM ET
On Sep 25, we issued an updated research report on Model N (NYSE:MODN) , a provider of cloud-based revenue management software.
Model N is benefiting from a growing customer base, transition to cloud-based applications and synergies from the Revitas acquisition. This was evident from the third-quarter 2017 results.
Adjusted loss of 14 cents per share was narrower than the year-ago quarter loss of 16 dents. The figure was also better than the Zacks Consensus Estimate of a loss of 18 cents per share. Revenues of $34.2 million increased 22.7% year over year.
Model N expects fourth-quarter GAAP revenues to come in the range of $34.6-$35.1 million. For fiscal 2017, GAAP revenues, after deferred revenue adjustment, are expected to be in the range of $130.2-$130.7 million. Management continues to expect annualized recurring revenue (ARR) to be between $46 million and $48 million. This represents 31% to 36% year-over-year growth.
Shares of Model N have gained 65.6% year to date, significantly outperforming the 19% rally of the Original post
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