September 26, 2016 4:30 PM ET

IT Services

Company Overview of Mattersight Corporation

Company Overview

Mattersight Corporation provides behavioral analytics services in the United States. The company provides predictive behavioral routing, performance management, quality assurance, predictive analytics, and marketing managed services that analyzes and predicts customer behavior based on the language exchanged between agents and customers during brand interactions to enhance customer satisfaction and retention, employee engagement, and operating efficiency. It serves companies in the healthcare, insurance, financial service, technology, telecommunication, cable, utility, education, hospitality, and government industries. The company was formerly known as eLoyalty Corporation and changed its na...

200 West Madison Street

Suite 3100

Chicago, IL 60606

United States

Founded in 1994

241 Employees

Phone:

877-235-6925

Fax:

312-454-3501

Key Executives for Mattersight Corporation

Chief Executive Officer, President and Director
Age: 59
Total Annual Compensation: $350.0K
Interim Chief Financial Officer, Chief Operating Officer and Executive Vice President
Age: 38
Total Annual Compensation: $300.0K
Chief Technology Officer and Executive Vice President
Age: 48
Total Annual Compensation: $300.0K
Executive Vice President of Sales
Age: 47
Total Annual Compensation: $227.7K
Compensation as of Fiscal Year 2015.

Mattersight Corporation Key Developments

Mattersight Corporation Debuts Workstyle 2.0

Mattersight Corporation debut Workstyle 2.0. Workstyle has given service and sales agents across the country a fun, easy way to create more emotionally-connected experiences for customers and a more enjoyable, rewarding job experience for themselves. The SaaS pioneer recently implemented a host of product updates designed to bolster both of those outcomes. Workstyle is a lightweight SaaS app that helps call center employees quickly build personality acuity through games and quizzes that leverage the same science that fuels Mattersight's Predictive Behavioral Routing solution. Together, the solutions solve call center variability by optimizing 100% of customer conversations for personality. Key updates reflected in the latest release of Workstyle include: Integration with operational metrics: Training is mapped directly to specific user key performance indicators, including talk time, customer satisfaction and close rate. Stats are visible to users and supervisors, providing insight into both individual and team progress over time. Expanded game offerings: New games address specific skills and scenarios for a highly personalised user experience, with fresh content added regularly. More leaderboards and in-app rewards: Multiple ways to rank user engagement, and performance improves connectivity among employees. A printable personalised report: Users can advertise their personality style and related attributes in their workspace, encouraging conversation and increasing personality awareness and understanding. Streamlined assessment: New users can complete the initial personality assessment in half of the previous time, with equally reliable results.

Mattersight Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Earnings Guidance for Third and Fourth Quarter of 2016

Mattersight Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported total revenue of $9,074,000 against $9,742,000 a year ago. Operating loss was $5,957,000 against $3,431,000 a year ago. Loss before income taxes was $6,194,000 against $3,556,000 a year ago. Net loss was $6,200,000 against $3,564,000 a year ago. Net loss available to common stock holders was $6,347,000 against $3,711,000 a year ago. Basic and diluted net loss available to common stock holders was $0.25 against $0.17 a year ago. LBITDA was $4,540,000 against $2,195,000 a year ago. Adjusted LBITDA was $3,122,000 against $798,000 a year ago. For the six months, the company reported total revenue of $19,127,000 against $19,058,000 a year ago. Operating loss was $11,597,000 against $7,131,000 a year ago. Loss before income taxes was $12,005,000 against $7,365,000 a year ago. Net loss was $12,021,000 against $7,381,000 a year ago. Net loss available to common stock holders was $12,314,000 against $7,675,000 a year ago. Basic and diluted net loss available to common stock holders was $0.49 against $0.35 a year ago. LBITDA was $8,779,000 against $4,895,000 a year ago. Adjusted LBITDA was $5,736,000 against $2,138,000 a year ago. Net cash used in operating activities was $10,603,000 against $5,688,000 a year ago. Capital expenditures were $973,000 against $1,207,000 a year ago. Investment in intangible assets was $472,000 against $475,000 a year ago. For the third quarter revenues are projected to increase 15% over second quarter of 2016, with an additional projected increase of 25% in fourth quarter of 2016 over third quarter of 2016. EBITDA: With this anticipated revenue growth, and with operating expenses expected to be relatively flat for the remainder of 2016, the company currently expects to achieve EBITDA breakeven in fourth quarter of 2016. Promising expect revenues will grow 40% plus from second quarter of 2016 to fourth quarter of 2016 Expect to cross over to EBITDA breakeven in fourth quarter.

Mattersight Corporation Enters Loan and Security Agreement with Hercules Capital

On August 1, 2016, Mattersight Corporation entered into a Loan and Security Agreement with Hercules Capital Inc. (Lender") under which the Company may borrow up to $30.0 million in three tranches. Upon entry into the Loan Agreement, the Company borrowed the first tranche of $22.5 million and paid a facility charge of $250,000. The Company previously paid a commitment charge of $45,000. The second tranche of up to $2.5 million is available beginning July 1, 2017 and continuing until September 15, 2017, provided that specified conditions are satisfied, including that the Company has achieved at least 85% of projected bookings and revenues for the six month period ending June 30, 2017. The third tranche of up to $5.0 million (Tranche 3") is available beginning on September 15, 2017 and continuing until September 15, 2018, provided that specified conditions are satisfied, including that the Company has achieved (i) at least 85% of projected bookings and revenues for the six month period ending June 30, 2017 and (ii) additional performance milestones to be mutually agreed between the Company and Lender. The Company will be required to pay a $50,000 facility charge to borrow under Tranche 3. The Company used a portion of the proceeds from the initial borrowings under the Loan Agreement to repay loans under that certain Second Amended and Restated Loan and Security Agreement among Silicon Valley Bank, the Company, Mattersight Europe Holding Corporation and Mattersight International Holding Inc., dated March 10, 2015 (as amended on March 25, 2016 and June 30, 2016, the Existing Loan Agreement"), and to pay related fees and expenses. The Company expects to use the remainder of the initial borrowings and any future borrowings under the Loan Agreement for general corporate purposes. Upon the repayment of loans under the Existing Loan Agreement, the Existing Loan Agreement was terminated. The per annum interest rate for any outstanding loans under the Loan Agreement is the greater of (i) 9.75% plus the prime rate as reported in The Wall Street Journal minus 3.50%, and (ii) 9.75%, computed on a daily basis. In addition to the interest accrued pursuant to the foregoing interest rate, the principal balance of any outstanding loans under the Loan Agreement will bear payment-in-kind interest at a rate of 2.15% per annum, computed on a daily basis, and such amount will be added to the outstanding principal balance outstanding on the loans.

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Recent Private Companies Transactions

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