Jive Software, the enterprise social networking provider that made waves with its IPO in late 2011, has announced its Q4 2011 and FY2011 financial results. And while Jive’s revenues were up to $22.5 million in the fourth quarter (a 53 percent gain year-over-year), it also saw its net loss balloon to $12.7 million, or 39 cents per share. That’s almost twice the $6.8 million loss it posted the same period in 2010.

For the full year, Jive earned $77.3 million in revenue, a 67 percent boost from 2010, with a GAAP net loss of $50.8 million. As for the all-important Wall Street expectations, analysts had pegged Jive as earning 7 cents per share on revenue of $21 million in the fourth quarter, so at least some expectations were beat.

It seems that Jive is experiencing some growing pains. Operating expenses shot up 64 percent to $24.5 million from $14.9 million, as Jive worked at investing in its sales, marketing and R&D efforts. Its IPO raised $131.4 million in net proceeds, according to the earnings statement, but $19.9 million went to paying down debts.

We don’t track Jive Software on the Talkin’ Cloud Stocks Index. But I stand by my assertion that Jive’s success validates the value of social to the cloud services channel, and this is only further proof. Meanwhile, Jive (JIVE) closed at $16.94 per share Feb. 7, 2012.