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Kneat Reports Second Quarter Results
Kneat Reports Second Quarter Results Canada NewsWire LIMERICK, Ireland, Aug. 27,...
About this update from Kneat.com, Inc.
[{"type":"text","content":"\n\n\n\nKneat Reports Second Quarter Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nLIMERICK, Ireland, Aug. 27, 2019\n\n\n\nLIMERICK, Ireland, Aug. 27, 2019 /CNW/ - kneat.com, inc. (TSXV: KSI) (\"Kneat\") today announced its financial results for the quarter ended June 30, 2019. All dollar amounts are presented in Canadian dollars unless otherwise stated.\n\n \n \n\n \nSecond Quarter Highlights\nRevenue of $528,812 was recognized during the three-months ended June 30, 2019 representing an increase of 299% over the same period in 2018. Year to date June 30, 2019 revenues totalling $942,535 are up 58% over the six-month period ended June 30, 2018. Annualized recurring revenues at June 30, 2019 increased by 58% to $1.1 million since March 31, 2019 and by 178% since June 30, 2018. The growth in recurring revenue continues to be driven primarily by an increase in SaaS deployments. During the quarter, two customers deployed our SaaS platform. Year to date, four customers have successfully gone live on our SaaS platform and two customers have started to scale their use of our on-premise solution. More go-live dates and expansions are expected in the coming months for both solutions. A leading company in the field of messenger RNA was announced as a new SaaS customer during the quarter. Deployment on the initial computer system validation processes has started, with go-live expected before the end of the year. Kneat appointed Mr. Rory Cameron to its Board of Directors in May. Mr. Cameron has over 15 years of strategic experience in the software industry and an extensive background in mergers, acquisitions and go-to-market operations. Kneat continues to add to its customer base by focusing on its sales and marketing campaigns, including a well-attended inaugural summit held in the United States in May. Throughout the second quarter, Kneat expanded its team across all functions in Europe and the United States in response to a growing list of customers and market opportunities. The sales pipeline is robust and continues to grow. We will continue to ...