Jive beats expectations with better revenue, smaller loss
Despite some losses, Jive Software still reported better than expected earnings to wrap up 2012.
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The social business software provider reported a fourth quarter net loss of $15.6 million, or 24 cents a share (statement). The non-GAAP net loss per share was 14 cents a share on a revenue of $32.5 million.
Wall Street was expecting Jive to report a fourth quarter loss of 15 cents a share on revenue of $31.15 million.
Highlighting the addition of some "million dollar customer commitments" during the fourth quarter, CEO Tony Zingale predicted big things for the social business market going into 2013:
We believe that 2013 will be the year that social business goes mainstream as customer focus continues to shift from features and functions to business value. Through the work just completed by a top three global business consultancy firm, companies using Jive reported a 15% increase in workforce productivity and a 4% increase in revenue. Our competitive advantage has become even stronger and we believe Jive is well positioned to gain significant market share as social business moves to mass adoption.
For the outlook, the earnings predictions don't entirely line up.
Jive is projecting revenue to fall within $33.5 million to $34.5 million for Q1 2013, with a non-GAAP loss between 15 and 17 cents per share. For the full year, Jive is providing revenue guidance of $148.0 million to $153.0 million with a non-GAAP loss of 53 to 60 cents per share.
For the first quarter, Wall Street is expecting a loss of eight cents a share on revenue of $33.97 million. For 2013, Wall Street is looking for a loss of 27 cents a share on revenue of $151.27 million.
More major points from Jive's Q4:
- Customer base grew to 800 clients -- a 39 percent increase from the end of Q3 2012.
- Closed acquisitions of Producteev and Meetings.io.
- Formed a new partnership with PwC's consulting services to jointly sell Jive's social business platform in the U.S. enterprise sector.