Net loss narrows to $5.97m compared to a loss of $26.29m for the fourth quarter of 2007
On-demand performance and talent management software provider SuccessFactors has reported a net loss of $5.97m for the fourth quarter 2008, compared to a loss of $26.29m in the year-ago quarter, on revenue up 72% at $33.02m.
It made an operating of $5.9m compared to a loss of $22.79m in the same period last year, while the net loss per share was $0.11 compared to a $1.11 loss last year. Cash flow generated from operations was approximately $0.7m.
For fiscal 2008 the company reported a net loss of $64.95m compared to net loss of $75.45m a year arlier, on revenue up 77% at $111.91m.
Lars Dalgaard, chief executive at SuccessFactors, said: We achieved cash profitability nine months ahead of our original target. In a recessionary environment, SuccessFactors has proven we have the ability to act quickly and nimbly. With greater than $125m in annual recurring revenue base, we continue to maintain customer focus, producing a record 1,000 go-lives in 2008. We were able to improve non-GAAP operating margin by 51 full percentage points from minus 61% in Q3 08 and by 99 full percentage points in total for 2008.
For the first quarter 2009, it expects revenue of between $34m and $34.5m and non-GAAP net loss per common share between $0.10 and $0.12. For fiscal 2009 it expects revenue between $145m and $146m and a non-GAAP net loss per common share between $0.23 and $0.27.