Record Application Revenue of $47.9 Million; Closes Multi-Million Dollar Performance Management Contract Supporting 140,000 Users; Adds Over 200 New SMB Customers; 55% Increase Year-Over-Year
HRchitect featured Taleo in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. Kevin Marasco, VP Brand Marketing with Taleo appeared on the HRchitect WebMingle on November 6, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!
Taleo Corporation (NASDAQ: TLEO), the leading provider of on-demand talent management solutions, today announced its financial results for the quarter ended June 30, 2010.
“Businesses need insight on their people to power growth, and they are turning to Taleo to provide the software solutions and perspective needed to gain that insight,” said Michael Gregoire, Chairman and Chief Executive Officer of Taleo. “Our second quarter results are further validation that our Talent Intelligence framework is delivering value to nearly 4,700 companies around the world and is helping those customers power their businesses.”
Second quarter highlights included:
– Revenues of $56.3 million, an increase of 14.6% year-over-year.
– Cash flow from operations of $9.9 million; with total cash of $244.9 million at June 30, 2010.
– Signed 226 new customers, including 18 new Taleo Enterprise customers and 208 new Taleo Business Edition customers.
– Closed 8 large enterprise deals with annual contract values in excess of $250,000.
– Significantly, the largest transaction for the quarter was a multi-million dollar sale of Performance Management to support more than 140,000 employees for an existing Recruiting customer that is one of the world’s largest professional services firms.
Second quarter customer momentum included the addition of the following new customers:
– ASRC Federal Holding Company, Brinker International, Carnegie Mellon University, LG Electronics, LLC, Cooper-Standard Holdings Inc., Miami Children’s Hospital, Starplex Cinemas, The Reinalt-Thomas Corporation, Samsung Telecommunications America LLC, Savannah River Nuclear Solutions, Skyy Spirits, and Warner Music Group.
– Existing Taleo customers that chose to add Taleo solutions to their Talent Management suites included: Adobe Systems Incorporated, Magellan Health Services Inc., and Swissport USA Inc.
Taleo delivered the following financial results for the second quarter of 2010:
Revenue: Total revenue for the second quarter was $56.3 million, an increase of 14.6% on a year-over-year basis. Application revenue for the second quarter was $47.9 million, an increase of 11.7% on a year-over-year basis.
Net Loss and Net Loss Per Share to Common Stockholders: Net loss was $(1.4) million for the second quarter, compared to a net loss of $(0.1) million for the same period last year. Net loss for the second quarter of 2010 includes $3.2 million in amortization expense related to acquisitions, and $3.7 million in stock-based compensation expense. Net loss per share was $(0.04) for the second quarter, based on 39.4 million weighted average shares outstanding, compared to approximately breakeven for the same period last year, based on 30.4 million weighted average shares outstanding.
Non-GAAP Net Income and Non-GAAP Net Income Per Share to Common Stockholders: Non-GAAP net income was $6.1 million for the second quarter, compared to non-GAAP net income of $5.5 million for the same period last year. Non-GAAP net income includes amounts excluded from GAAP revenue due to the write down of the deferred revenue associated with purchase accounting for the Worldwide Compensation and Vurv acquisitions, and excludes costs associated with our 2009 restatement-related revenue review, acquisition related transaction costs, stock-based compensation expense, amortization of acquired intangibles, and the gain on re-measurement of a previously held interest in Worldwide Compensation. Non-GAAP net income per fully diluted share was $0.14 for the second quarter based on 42.7 million fully diluted weighted average shares outstanding, compared to non-GAAP net income per fully diluted share of $0.17 for the same period last year based on 32.6 million fully diluted weighted average shares outstanding.
For more information on Taleo, please visit www.taleo.com
Matt Lafata, HRchitect
