Ellie Mae earnings once again beat expectations
Earnings for 4Q are up from 2014
Ellie Mae’s total revenue for the fourth quarter of 2015 increased by 39% to $64.9 million, up from $46.6 million in the fourth quarter of 2014.
Net income of $4.8 million in the fourth quarter increased from $4.3 million in fourth quarter of 2014.
This beat analyst revenue expectations by $3.55 million, and EPS expectations by $0.23.
In the third quarter of 2015, Ellie Mae also posted strong results, with its total revenue for the third quarter of 2015 hitting $68.9 million.
“Our better than expected fourth quarter performance capped an outstanding year for Ellie Mae,” said Jonathan Corr, president and CEO of Ellie Mae. “Fourth quarter year-over-year revenue growth of 39% was driven by the continued ramp of Encompass users and adoption of our services.”
Other increases in the fourth quarter of 2015 include:
- An adjusted EBITDA of $17.1 million is up 34% from the fourth quarter of 2014’s $12.8 million.
- A record of 16,200 Saas Encompass seats were booked.
Ellie Mae plans to continue it’s success into 2016, Corr stated.
“We have built a powerful all-in-one mortgage management platform and network that provides one system of record for lenders to originate and fund mortgages, is deeply integrated with a broad array of vendors, investors and agencies, and allows lenders to achieve loan quality, regulatory compliance and operating efficiency,” Corr said.
“Building on our successes, as we enter 2016 we plan to continue to drive growth by adding new users, introducing new services, and driving continued adoption of all our services,” he continued.