Mattersight Announces First Quarter 2017 Results

Mattersight (NASDAQ:MATR) has announced its financial results for the quarter ending March 31, 2017.
As quoted in the press release:

“Mattersight’s first quarter was marked by 9% growth in total revenues and 12% growth in subscription revenue versus the same period last year,” said Mattersight CEO Kelly Conway. “We are quite encouraged by our outlook for the remainder of the year based on the conversion of our backlog to revenue; our strong pipeline; and tight expense management.”
First Quarter 2017 Financial Highlights

• Bookings: Annual Contract Value (ACV) bookings were $3.5 million.
• Total Revenue: Total revenue was $11.0 million.
• Subscription Revenue: Total subscription revenue was $10.3 million.
• Backlog: ACV in deployment was $14.5 million at the end of the quarter.
• Gross Margin: Gross margin was 69%.

Non-GAAP Financial Measures
Mattersight’s net loss was $5.0 million in the first quarter of 2017. The Company realized an “Adjusted EBITDA¹” loss of $1.9 million for the first quarter of 2017. Adjusted EBITDA is a non-GAAP measure. For a reconciliation of net loss to Adjusted EBITDA, see the accompanying schedule.

Click here to read the full press release.