RightNow’s Earnings: Good News for SaaS?
For its Q2:
RightNow, a member of our SaaS 20 Stock Index, has released quarterly results that reveal accelerating software as a service (SaaS) sales. You never know how investors are going to react — especially as oil prices fluctuate by the hour. But RightNow’s optimistic financial outlook could be reassuring to the SaaS industry. Here are some of the financial figures RightNow released July 30.
For its Q2:
- Net income: a net loss of $3.1 million, far smaller than the $5.7 million loss a year ago, and better than analysts had expected, according to Reuters.
- Revenue: $35.2 million, up 33 percent from last year and about $900,000 more than Wall Street expected, Reuters reports.
- Future outlook: RightNow forecast a bigger loss than Wall Street expected for its Q3, but the company says the full-year results should be stronger than Wall Street had expected, Reuters notes.
So what does all this have to do with managed service providers? Ultimately, SaaS is your close cousin. And RightNow is one of the key publicly held companies blazing a trail in the SaaS market.
When RightNow hits a bump, you can learn from their mistakes. When RightNow’s profits accelerate faster than expected, you can learn from their victories.