May 27, 2016 6:29 PM ET

Internet Software and Services

Company Overview of Apigee Corporation

Company Overview

Apigee Corporation develops a software platform that enables application programmable interface (API) based digital strategies and business insights for enterprises. Its platform allows businesses to design, deploy, and scale APIs as a connection layer between information technology systems and data, and the applications with which its customers, partners, employees, and other users engage with the business. The company’s platform includes various products, such as Apigee Edge, a self-service API platform; Apigee Edge SMB, a cloud based API management solution for small and medium-sized businesses; Apigee Insights, a self-service predictive analytics solution; and Apigee Link, an Internet of...

10 South Almaden Boulevard

16th Floor

San Jose, CA 95113

United States

Founded in 2004

407 Employees

Phone:

408-343-7300

Key Executives for Apigee Corporation

Chief Executive Officer, President and Director
Age: 47
Total Annual Compensation: $326.3K
Chief Financial Officer
Age: 44
Total Annual Compensation: $125.0K
Vice President of Engineering and Operations
Age: 47
Total Annual Compensation: $291.7K
Compensation as of Fiscal Year 2015.

Apigee Corporation Key Developments

Apigee Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended April 30, 2016; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2016

Apigee announced unaudited consolidated financial results for the third quarter and nine months ended April 30, 2016. For third quarter 2016, Apigee reported total revenue of $23.5 million, at the high end of its guidance range of $22.5 million to $23.5 million. Third quarter 2016 total revenue was up 36% compared to $17.3 million in third quarter 2015. Apigee reported a third quarter 2016 GAAP operating loss of $9.9 million, compared to $10.8 million in third quarter 2015. Third quarter 2016 non-GAAP operating loss was $7.5 million, compared to $9.7 million in third quarter 2015. Both GAAP and non-GAAP operating loss improved as a result of revenue growth rate that was significantly higher than operating expense growth rate, as well as improved gross margin. Third quarter 2016 operating cash out flow was $3.5 million compared to $8.1 million in second quarter 2016. Loss before provision for income taxes was $9.842 million against $10.848 million a year ago. Net loss and comprehensive loss was $9.915 million or $0.33 basic and diluted per share against $10.988 million or $2.16 basic and diluted per share a year ago. Net cash used in operating activities was $3.516 million against $2.220 million a year ago. Purchase of property and equipment was $0.028 million against $0.485 million a year ago. For the nine-month period, the company reported total revenues were $66.911 million against $49.905 million a year ago. Loss from operations was $31.302 million against $37.071 million a year ago. Loss before provision for income taxes was $31.704 million against $37.454 million a year ago. Net loss and comprehensive loss was $31.984 million or $1.08 basic and diluted per share against $37.797 million or $8.66 basic and diluted per share a year ago. Net cash used in operating activities was $19.117 million against $23.494 million a year ago. Purchase of property and equipment was $0.136 million against $0.835 million a year ago. Non-GAAP operating loss was $25.137 million against $33.931 million a year ago. Non-GAAP net loss was $25.819 million or $0.87 per share against $34.657 million or $1.44 per share a year ago. The company provided earnings guidance for the fourth quarter and full year of 2016. Fourth quarter fiscal 2016, total revenue is expected to be in the range of $24.0 million to $25.5 million. Non-GAAP operating loss is expected to be in the range of $8.0 million to $9.0 million. Non-GAAP net loss per share is expected to be in the range of $0.27 to $0.30 based on approximately 30 million GAAP weighted-average shares outstanding. Full year fiscal 2016, total revenue is expected to be in the range of $90.9 million to $92.4 million. Non-GAAP operating loss is expected to be in the range of $33.1 million to $34.1 million. Non-GAAP net loss per share is expected to be in the range of $1.11 to $1.14 based on approximately 29.8 million GAAP weighted-average shares outstanding.

Apigee Announces Availability of its API Management Software for Pivotal's Cloud Foundry

Apigee and Pivotal announced the availability of Apigee’s API management software for Pivotal's Cloud Foundry. Pivotal users can now select Apigee Edge software from the Pivotal Network marketplace to get Apigee’s comprehensive API management capabilities easily integrated into their Web applications built with Pivotal Cloud Foundry. The Apigee-Pivotal Cloud Foundry integration provides a API management solution on an Cloud Native platform with the reliability and flexibility to deploy in various on-premises, cloud-based, and hybrid cloud topologies. This technology integration takes advantage of Pivotal’s ‘Route Services Feature.’ Apigee Edge can automatically create API proxies in Pivotal Cloud Foundry, enabling policies to be seamlessly applied, and APIs can also be automatically published to a developer portal. All API requests in software developed on Pivotal Cloud Foundry are routed to Apigee for security, analytics and traffic management. Apigee will be demonstrating and discussing Apigee integration with Pivotal Cloud Foundry at the Cloud Foundry Summit, May 23-25, in Santa Clara, California.

Apigee Announces Apigee Open Banking APIx

Apigee announced Apigee Open Banking APIx, a new software solution designed to help banks within the European Union (EU) more quickly and easily embrace open banking requirements generally set out in the revised Payment Services Directive (PSD2). Built on the Apigee Edge API platform, Apigee Open Banking APIx features pre-built application programming interfaces (APIs) for banking, an open banking developer portal, and additional tools to help empower financial institutions to securely share data and build an ecosystem of partners and customers. In anticipation of the final adoption of PSD2 by EU Cabinet of Ministers and subsequent enforcement of PSD2 at the member state level, Apigee is teaming with Accenture to work on developing customized client solutions for open banking spurred by PSD2. Apigee Open Banking APIx leverages Apigee Edge, Apigee’s product and API management software. Apigee Open Banking APIx aims to simplify and accelerate the process of delivering open banking by providing APIs that are ready for immediate use, along with the computing infrastructure to support internal and external innovation. Apigee’s Open Banking APIx solution will provide digital teams, including mobile and Web developers, with access to capabilities including: a banking-specific developer portal with API documentation and tools; a collection of pre-configured API proxies for banking APIs such as Payment Transfer, Account Information, Transactions History, Sufficient Funds, and Financial Products APIs; Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP) - specific workflows, as well as API product monetization; Pre-integrated OAuth security framework to support different access models for internal apps or third-party providers, such as PISPs, AISPs and Fintechs; support for the XS2A rule in PSD2 through end-user authentication using the OpenID Connect standard to allow multiple authentication models, two-factor authentication, and consent capture and management. By leveraging Apigee Edge, Apigee Open Banking APIx also gives operators the benefits of Apigee API management, including API security, API analytics, API monetization, and developer on-boarding capabilities.

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