Wednesday, March 05, 2014

Strong SaaS and Mobile Revenue Highlights TIS 'Q4/Year-End Financials

Some highlights from Top Image Systems 4th quarter/year-end 2013 financials that were announced today:
  • Fourth quarter revenue of $8M, up from 7.35M for Q4 '12.
  • Year-end revenue of $29M for '13, down from $31.3M in 2012
  • In 2013, mobile technology revenue accounted for10% of total and exceeded forecasts in this area by 100%
  • SaaS revenue for Q4 was $360,000
Michael Schrader, COO, from the press release, “In 2013 we have reinforced our transition strategy, investing significantly in cloud and mobility and expanding our hybrid business model to gradually grow our SaaS subscription-based operations while maintaining our existing on-premise business....Current investments in our cloud-based solutions will further promote SaaS sales. In 2013 we reinforced our mobile and cloud-directed product development strategy with powerful channel and technology partnerships, product launches, patent filings and key organizational changes to drive US market growth.  We are confident that our business model transition and clear focus on our cloud, SaaS and mobile solution strategies in 2013 will drive us to maximum revenue growth.”


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