Textura Announces 28% Revenue Growth in First Quarter 2016
Chicago, IL, April 28, 2016 / 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, 2016.
Q1 2016 Results
Total revenue for the quarter was $24.7 million, a year-over-year increase of 28%. Year-over-year, activity-driven revenue grew 32% to $19.8 million and organization-driven revenue increased 15% to $4.8 million. Deferred revenue at March 31, 2016 was $46.3 million, an increase of 6% from $43.8 million at December 31, 2015 and 22% from $37.9 million at March 31, 2015.
Adjusted gross margin grew to 83.2% from 82.3% while GAAP gross margin was 81.7% compared to 81.4% in the prior-year period. Adjusted EBITDA improved to $4.4 million from $0.9 million year over year. GAAP net loss was ($1.5) million compared to a net loss of ($3.1) million in the prior-year period. Adjusted Basic and Diluted EPS was $0.09 compared to break-even in the quarter ended March 31, 2015. GAAP basic and diluted net loss per share was ($0.06) compared to a loss per share of ($0.12) in the prior-year period.
Conference Call and Webcast Information
As a result of the earlier announcement that Oracle plans to purchase Textura, the conference call previously scheduled for today to discuss Textura's financial results has been canceled.
Textura is a leading provider of collaboration and productivity tools for the construction industry. Our solutions serve construction industry professionals across the project lifecycle - from takeoff, estimating, design, pre-qualification and bid management to submittals, field management, performance management, LEED® management and payment. With award winning technology, world-class customer support and consistent growth, Textura is leading the construction industry's technology transformation.
Use of Non-GAAP Financial Measures
Reconciliations of non-GAAP financial measures to Textura's financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section titled “Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EPS, Adjusted Operating Expenses and Adjusted Gross Margin Definitions.”
Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EPS, Adjusted Operating Expenses and Adjusted Gross Margin Definitions
Adjusted EBITDA represents loss before interest, taxes, depreciation and amortization, share-based compensation expense and other expenses. Adjusted EBITDA is not determined in accordance with accounting principles generally accepted in the United States (''GAAP''), and is a performance measure used by management in conjunction with traditional GAAP operating performance measures as part of the overall assessment of our performance including:
for planning purposes, including the preparation of the annual budget; and
to evaluate the effectiveness of business strategies.
The following information was filed by Textura Corp (TXTR) on Friday, April 29, 2016 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.