Cogmotive announces record growth in 2015, and an exciting year ahead
Today we release the first of our Investor Relations updates. You will see us do more of this as time passes. Despite all the excitement about our software and what it can do, at its heart Cogmotive is a business and as such we have to keep a sharp eye on our bottom line, how we grow and how to maximize that growth. We also want to be very transparent so that our customers are fully aware of the underlying strength of the organization to which they are entrusting a core part of their IT. I’m very pleased to say that 2015 was a very exciting year for us and has left the company in great shape for further growth and laid a strong foundation for us to be a long lasting player in a dynamic market.
There are two things driving Cogmotive’s growth, and both are related. Naturally none of this works without great software – we have an awesome product (Office 365 Reports), which we have continued to develop to maintain our position as the innovators in the reporting market. We have also launched our second product in the Cogmotive Reports suite, SharePoint Online Reports, which has received a great reception from new and existing customers. Secondly we are in a very active market that rewards organizations that take the lead on innovation and delivery – in this case the emergence of cloud computing as a driver in technology adoption. As such, we are aligned with one of the largest real transformations in IT history. This means that our market is continuing to grow, and we have an ever increasing customer base for our tools.
We packed a lot into this update, but I wanted to point out a few headlines for 2015. First off:
- Increase in Revenue Per Licensed User (RPLU): Due to the nature of our customer base (which can vary from a handful of Office 365 users to hundreds of thousands), revenue per customer is a misleading metric. RPLU gives us a more realistic indication of the growth of the business, and this year we saw RPLU increase by 17%. Part of this is related to the launch of our second product, SharePoint Online Reports, which only occurred in October 2015 so further increases in RPLU are projected for 2016. This increase is also related to –
- Demographic shift in our customer base: We are seeing increasingly large and sophisticated enterprise customers moving to Office 365 and Cogmotive Reports, supporting the increase in RPLU and –
- Strong and consistent revenue growth with each quarter in 2015 representing the best revenue performance in the company’s history with more than 200% growth in both revenue and profits.
As you can see, our market is evolving in a way that is highly conducive to future growth, particularly as we continue to add exciting new products to the Cogmotive Reports suite. These headlines also show that we are managing our bottom line well, expanding when we need to and focusing our efforts on product development.
If you are a current user of Cogmotive Reports you will see that we have kept up the pace of innovation in our tools, with an average of one new feature released every two weeks in 2015.
During 2015 we also collected 28 terabytes of reporting data on behalf of our customers – that’s 84GB per day, or 3.5GB per hour!
Finally, there are these numbers:
- 3 Million Office 365 seats managed
- Used in over 200 countries worldwide
These numbers show that clearly what we are offering is resonating with a broad spectrum of customers around the globe. To that end Cogmotive took the first step in having a more constant global presence by opening our North American office earlier this year. Now fully staffed we are offering our Americas customers in-time zone service and focus to complement our strong European presence. That is a huge step in the life cycle of an organization.
Looking forward to giving folks more updates as our journey continues throughout the year.