Textura Announces 39% Revenue Growth in First Quarter
Q1 2015 Results
•Revenue of $19.2 million, up 39% y/y
•Billings of $21.5 million, up 36% y/y
•Adjusted EBITDA profit of $0.9 million
•Adjusted EPS of $0.00
•Cash generated from operations of $3.2 million, 4th consecutive quarter of positive cash flow
Chicago, IL, April 30, 2015 / PRNewswire / -- Textura Corporation (NYSE: TXTR), a leading provider of collaboration solutions for the construction industry, today announced financial results for the quarter ended March 31, 2015. In addition, the Company announced that Patrick Allin, Chairman and CEO, will transition to a new role as Executive Chairman. Dave Habiger, an investor and director of Textura, will assume the role of interim CEO.
“We had a solid first quarter with increasing revenue, improving gross margins, accelerating cash generation from operations and positive adjusted EBITDA,” said Allin. “We are seeing growing interest in our EPP solution domestically and are making inroads into the international markets as well. All in all, we are encouraged by the positive trends in our markets and we plan to leverage our ongoing investment in existing and new solutions to transform the construction industry.”
“With another solid quarter of revenue growth and positive cash flow generation and a strong outlook for 2015, the Board and I have decided that now is the right time to transition from CEO to Executive Chairman,” continued Allin. “Having overseen significant growth and market expansion since our founding in 2004, my passion and commitment to Textura remain unchanged. I am excited to move to this new role and partner with Dave Habiger to position Textura for its next stage of growth. I look forward to continuing my significant role as visionary leader of the Company, focusing on clients and our platform strategy.”
Q1 2015 Key Business Highlights
Turner Construction continued its nation-wide rollout of Textura’s CPM solution. The vast majority of Turner’s 1,200 ongoing projects having a construction value in excess of $20 billion are expected to be added to CPM over the remainder of 2015 and into 2016.
The Early Payment Program (EPP) was officially launched in April. Turner Construction is the first customer that has begun to implement EPP. With a growing pipeline and large market opportunity, EPP has significant long-term potential to drive revenue and profitability.
The Company announced a new 23,000 square foot office space in downtown Chicago. The office will provide a productive and collaborative environment for current employees who prefer to live and work in downtown Chicago and allow the Company to tap into the growing technology employment market, expanding the pool of available talent.
The following information was filed by Textura Corp (TXTR) on Thursday, April 30, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: TXTR CIK: 1565337 Form Type:10-Q Quarterly Report Accession Number: 0001565337-15-000045 Submitted to the SEC: Fri May 08 2015 4:07:18 PM EST Accepted by the SEC: Fri May 08 2015 Period: Tuesday, March 31, 2015 Industry: Prepackaged Software