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May 29, 2015 11:51 AM ET

Software

Company Overview of Model N, Inc.

Company Overview

Model N, Inc. provides revenue management solutions for the life science and technology industries. It develops applications, such as managed care and government pricing for life science companies; and channel incentives based on design wins for technology companies. The company’s solutions enable its customers to manage the strategy and execution of pricing, contracting, incentives, and rebates. It offers Revenue Management Enterprise suite, a set of transactional applications that serve as a system of record for, and automate the execution of, revenue management processes, including pricing, contracting, compliance, incentive, and rebate management. The Revenue Management Enterprise suite ...

1600 Seaport Boulevard

Suite 400

Building 6

Pacific Shores Center

Redwood City, CA 94063

United States

Founded in 1999

589 Employees

Phone:

650-610-4600

Fax:

650-610-4699

Key Executives for Model N, Inc.

Founder, Chairman and Chief Executive Officer
Age: 55
Total Annual Compensation: $1.0
Chief Financial Officer and Senior Vice President
Age: 48
Total Annual Compensation: $124.3K
Chief Customer Officer and Senior Vice President
Age: 56
Total Annual Compensation: $285.6K
Compensation as of Fiscal Year 2014.

Model N, Inc. Key Developments

Model N Seeks Further Expansion

Model N, Inc. (NYSE:MODN) is expanding itself and will use it as a platform for mergers and acquisition and for consumptions of other kind of new companies.

Model N, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 31, 2015; Provides Earnings Guidance for the Third Quarter Ending June 30, 2015; Revises Earnings Guidance for the Full Year Ending September 30, 2015

Model N, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended March 31, 2015. For the quarter, the company’s total revenues were $22,676,000 against $20,650,000 a year ago. Loss from operations was $4,317,000 against $4,897,000 a year ago. Loss before income taxes was $4,407,000 against $4,950,000 a year ago. Net loss was $4,599,000 or $0.18 basic and diluted per share against $5,032,000 or $0.21 basic and diluted per share a year ago. Adjusted LBITDA was $832,000 against $1,059,000 a year ago. Non-GAAP loss from operations was $1,717,000 against $1,898,000 a year ago. Non-GAAP net loss attributable to Model N Inc. common stockholders was $1,999,000 or $0.08 diluted per share against $2,033,000 or $0.08 diluted per share a year ago. Cash flow used by operations was $3,800,000, which after adding capex of $300,000 and $700,000 of capitalized software, produces a negative free cash flow of $4.8 million. This compares to cash used by operations of $4,000,000 in the second quarter of last year, which adding $400,000 of capex produces a negative free cash flow of $4.4 million. For the six months, the company’s total revenues were $44,777,000 against $42,209,000 a year ago. Loss from operations was $8,524,000 against $7,910,000 a year ago. Loss before income taxes was $8,571,000 against $7,990,000 a year ago. Net loss was $8,898,000 or $0.35 basic and diluted per share against $8,155,000 or $0.34 basic and diluted per share a year ago. Adjusted EBITDA was $1,632,000 against $873,000 a year ago. Non-GAAP loss from operations was $3,367,000 against $2,587,000 a year ago. NonGAAP net loss attributable to Model N Inc. common stockholders was $3,741,000 or $0.15 diluted per share against $2,832,000 or $0.12 diluted per share a year ago. Net cash used in operating activities was $7,260,000 against $5,745,000 a year ago. Purchases of property and equipment were $1,022,000 against $518,000 a year ago. For the third quarter ending June 30, 2015, the company expects total revenues to be in the range from $23.1 million to $23.4 million. NonGAAP loss from operations is expected to be in the range of $2.3 million to $2.5 million. NonGAAP net loss per share is expected to be in the range of $0.09 to $0.10 based upon weighted average shares outstanding of 26.2 million shares. For the full year ending September 30, 2015, the company expects total revenues to be in the range from $92.5 million to $93.5 million. NonGAAP loss from operations is expected to be in the range of $7.5 million to $8.5 million. NonGAAP net loss per share is expected to be in the range of $0.29 to $0.32 based upon weighted average shares outstanding of 25.9 million shares. Non-GAAP loss from operations in the range of $7.5 million to $8.5 million, an increase in the bottom end of the range of $500,000 from the previous quarter. Non-GAAP net loss per share in the range of $0.29 to $0.32 based on a weighted average share count of 25.9 million shares. This is a $0.03 improvement at the bottom end of the range compared to prior guidance.

Model N, Inc. Announces Board Changes

Model N, Inc. announced that Sarah Friar provided notice to the company of her intention to resign from board of directors, effective May 31, 2015. Ms. Friar's decision to resign was not due to any disagreements with management. Effective May 7, 2015, board of directors elected Alan Henricks to serve as a Class II director whose current term will expire at 2018 annual meeting of stockholders. Mr. Henricks will also serve as a member of the Audit Committee of board of directors.

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