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5.2.16

Agylytyx Discusses 1Q 2016 Financial Results

Sunnyvale, CA – May 2, 2016 – Agylytyx announced that both revenues and net income exceeded its plan for the first quarter. Revenue for the company was 107% of plan in the first quarter. Management indicated that revenue was becoming more predictable as the company’s revenue from the subscription product, the Agylytyx Generator, grew. Agylytyx product revenue was 100% of first quarter forecast, where the company’s professional services were 109% of first quarter forecast.

The company’s gross margin results mirrored its revenue. The company spent a little less than projected on delivering subscriptions, so product gross margins were 2 percentage points higher than planned. Cost for delivering services were less predictable. This effect combined with service revenue which exceed plan led to a gross profit margin on services which were 7 percentage points higher than planned. Agylytyx’ s resulting blended gross profit margin was 6 percentage points higher than planned.

From a net income perspective, the company recorded a profitable first quarter, even though sales and marketing expenditures were roughly twice what Agylytyx forecast. Madison Laird, the company’s CEO explained: “we continue to see payoff from our sales investments, as long as that is the case we plan to continue to invest judiciously.” Management stopped short of making a commitment to reinvest the company’s first quarter profit, explaining that they would wait until the end of the second quarter to make that decision.

About Agylytyx
Agylytyx provides cloud-based enterprise business analytic software. The company's flagship product, the Agylytyx Generator, frees up analyst time and results in better decision making across corporations. Agylytyx is based in Sunnyvale, California, and has locations in Philadelphia and Washington D.C. For more information about Agylytyx visit www.agylytyx.com.

Contact
Scott Gripenstraw
scott@agylytyx.com
(408) 498-5840


 

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