Jive Software's second quarter was a bit of a mixed bag. It posted some significant losses, but they are comparatively better than they used to be, and the company met revenue expectations.
The enterprise social software provider reported a net loss of $11.6 million, or 19 cents a share, compared to a net loss of $16.1 million for the same period last year (statement).
The Non-GAAP net loss was $6.8 million, or 11 cents a share, on a revenue of $27 million, up 51 percent year-over-year.
Wall Street was expecting a loss of 11 cents a share on revenue of $26.6 million for the second quarter.
Chairman and CEO Tony Zingale maintained a positive outlook in prepared remarks:
Our momentum continued in the second quarter, contributing to strong growth in both revenue and billings. Customer response related to our next generation social business platform has been extremely positive, and the launch of TryJive has driven an increase in customer adoption, brand awareness and our pipeline of opportunities.
Also despite the losses, Zingale commented during the quarterly conference call with investors on Tuesday afternoon that Jive also fared better than most other tech companies did during Q2.
In the face of an economic environment that grew more challenging, compared to recent quarters, it was a solid performance. Social business is a top strategic priority for enterprises, and Jive continues to provide the most comprehensive social business platform, leveraging our decade of experience in this market. As enterprises continue to retool there IT environment to better support their business needs, we believe that Jive offers the only solution which enables customers to take advantage of the porch apology megatrends driving social business adoption today.
Zingale added that Jive "added another healthy mix of new customer wins" from several different verticals and industries including insurance, financial services, technology, healthcare, and government organizations.
For the outlook, Jive is predicting a revenue of $28 million to $29 million at the end of Q3 2012 with a non-GAAP loss between 10 to 12 cents a share.
For the third quarter, Wall Street is expecting a loss of 10 cents a share on revenue of $29.34 million.
For the full year, Jive is counting on a total revenue between $110.0 million and $113.5 million with a non-GAAP loss of 38 to 42 cents per share.
Q2, by the numbers:
- Total billings (which Jive defines as revenue plus the change in total deferred revenue) were $33.7 million -- up by 41 percent on a year-over-year basis.
- Non-GAAP loss from operations was $6.7 million, compared to $8.3 million from Q2 2011.
- Ended the quarter with 707 customers, up from 676 as of March 31, 2012. Jive attributes this to the TryJive initiative that launched during Q2.