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11.28.16

Agylytyx Discusses Q3 2016 Financial Results

Sunnyvale, CA – November 28, 2016 – Agylytyx announced that it was on pace to double subscription product revenue in 2016. Based on 3Q results, the company said it was clear that the pace of subscription revenue was set to increase by over 100% year over year, more than twice the amount the company recorded in 2015.

Significantly, the company disclosed that it had a 100% renewal rate from 2015. The company’s service revenue in Q3 was less than forecast, but it expected to make that up in Q4. The company’s CEO, Madison Laird, explained: “one of the more sizeable deals we forecast to start in Q3 actually started the services relationship a bit later than we anticipated. The services engagement kicked off and will actually generate more revenue in Q4 than forecast, so the net result for 2016 should be the same.”

The company continued its frugality, spending less than forecast and turning in a bottom line result well ahead of its plan. Complete year end results for the company were anticipated early in February 2017.

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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