Jive beats Q3 estimate by two cents; acquires Meetings.io, Producteev

Summary:Jive's third quarter earnings report is slightly better than expected and packed with some new acquisitions for good measure.

Jive Software's third quarter earnings report wasn't all bad -- although the outlook is a mixed bag and it did scrape by one of Wall Street's Q3 forecasts by just two cents.

The social business software provider reported a net loss of $11.3 million, or 18 cents a share (statement), for the third quarter. On a non-GAAP basis, Jive posted a loss of nine cents a share on a revenue of $28.9 million.

Wall Street was looking for a loss of 11 cents a share on revenue of $28.75 million in the third quarter.

Trying to put a positive spin on things, CEO Tony Zingale asserted in prepared remarks that Jive is becoming the "de facto standard in the social business market":

The combination of multi-year, multi-million dollar deals and new customer wins contributed to strong year-over-year quarterly billings growth of 47% and product revenue growth of 48% for the third quarter. Jive's success is being fueled by our highly differentiated track record of delivering tangible business value with hundreds of the largest global organizations. Our value proposition is reinforced by our growing list of blue chip customers, significant expansions of existing deployments and record number of seven figure customer commitments.

Zingale also touched on the newly announced acquisitions of Meetings.io and Producteev. In a separate blog post, he cited both companies' "respective areas of real-time communication technology (RTC) and cloud-based social task management," which will be integrated with Jive products.

New York City-based Producteev execs added that the entire team will be moving to Jive's Palo Alto, Calif. headquarters. Financial details of the merger were not disclosed.

Looking forward, the outlook is a little trickier. Jive is predicting a revenue of $30.0 million to $31.5 million at the end of Q4 2012 with the non-GAAP loss per share between 15 and 17 cents.

For fourth quarter, Wall Street is looking for a loss of nine cents a share on revenue of $31.1 million.

For the year overall, Jive is projecting a revenue of $111.1 million to $112.6 million with a non-GAAP loss between 44 and 46 cents per share.

Key points:

  • Ended Q3 with 761 customers, a record quarterly increase of 54 from the end of Q2 2012.
  • Teamed up with Box for enabling syncing and sharing content across both platforms

Topics: Tech Industry, Enterprise Software, Software

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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