Neat® Continues Growth and Profitability in 2012; Adds New Cloud and Mobile
2012 revenues exceed $110 Million and new stream of subscription revenue
begins to flow
PHILADELPHIA, Jan. 7, 2013
PHILADELPHIA, Jan. 7, 2013 /PRNewswire/ --Neat®, a leader in Digital Filing
Systems for the small business and home markets, today announced another year
of strong growth including significant gains in revenue, customers and product
innovation. Revenue for the year increased 57 percent year-over-year, and the
company marked its third consecutive year of profitability.
Key to the company's continued leadership in the Digital Filing System
category was the general availability of NeatCloud® and NeatMobile® in the
third quarter of 2012. Since that time, of those customers that took the
30-day free trial of these offerings, more than 70 percent have converted to
paid subscribers of the NeatCloud and NeatMobile services, introducing a
healthy new stream of subscription-based recurring revenue to the company.
"The company realized a major objective in 2012 by seamlessly extending our
existing offering with two products that meet the expectations of the post-PC
era consumer," said Jim Foster, chief executive officer of Neat. "Looking
ahead, we will continue to extend our product capabilities to rapidly expand
adoption of the new cloud and mobile solutions and capture the tremendous
opportunity available for cloud-based Digital Filing Systems."
Neat 2012 Highlights:
oSurpassed $110 million in revenue for calendar year 2012, growing 57%
oCompleted third consecutive year of profitability
oRealized a 30 percent growth in the customer base propelling the company
over the1.3 million customer mark
oAdded complementary paid service offerings including NeatVerify®, a
content editing and verification service for NeatMobile and NeatScan®, a
bulk scanning service
oSecured new retail distribution agreements with Best Buy, Bed Bath and
Beyond and deepened existing agreement with Staples, Office Max, Office
Depot and Sam's Wholesale Club
oOpened company-owned Call Center for both sales and customer support
personnel to accommodate company growth
"Neat's integrated ecosystem of hardware, software, cloud and mobile solutions
is transforming how households and small businesses manage their important
information," stated Kevin Garton, Neat's chief marketing officer. "Neat's
growth is evidence that our promise of helping people organize, activate,
access, search and share both paper and digital information is resonating."
About Digital Filing Systems
A Digital Filing System is a desktop, cloud and mobile system where important
documents and information can be safely stored, organized, accessed and
shared. The information can originate from analog (paper) or digital formats
(PDF, JPEG, etc.) and be placed in the Digital Filing System by scanning,
emailing, mobile device image capture or uploading.
Neat® is the leading manufacturer of Digital Filing Systems for the small
business and home markets. Neat's unique combination of cloud, mobile,
desktop software and hardware scanning solutions transform important documents
into usable digital information. Neat's comprehensive Digital Filing System
helps you organize, access and share both paper and digital documents
simplifying everyday tasks so you have more time to do what matters. Neat's
solutions consist of NeatDesk®, NeatReceipts®, NeatCloud®, NeatMobile®,
NeatVerify® and NeatScan®. Learn more at www.neat.com.
Contact: Cassandra Grob, 215-867-8600 x216, firstname.lastname@example.org
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