Business intelligence software maker Actuate started fiscal 2007 strongly after reporting a 20% rise in license revenue growth in its first quarter ended March 31.
The South San Francisco-based company said its license revenue grew to $12m in the quarter, from an overall revenue total in the quarter of $32m, also up 7%. It was the company’s fifth consecutive quarter of double-digit license revenue growth.
Actuate also managed to swing to a profit of $1.4m in the quarter, overturning a net loss of $470,000 a year ago. The recent quarter included a $1.9m charge related to stock-based compensation expenses to be included in financial results.
Pete Cittadini, president and CEO of Actuate, said that the license growth validates [Actuate’s] new hybrid open source-enterprise business model.
Actuate is aggressively pushing its Eclipse-sponsored Business Intelligence Reporting Tools (BIRT) open source software at the Java development community, as a ramp-up into its commercially licensed BI products.
Cittadini said the company the recent first-quarter had recorded the most downloads of BIRT code since it was launched – over 200,000 of BIRT open source and Actuate-flavored BIRT software. In total BIRT software has been downloaded more than 850,000 times.
That puts us on track to exceed one million downloads by the middle of next year, Cittadini said. Plus our BIRT-based commercial offerings continue to gain traction in the market.
He also highlighted the company’s strong extranet reporting applications, particularly among large financial services firms, as a key driver for license growth in the quarter.