Ellie Mae raises full-year guidance after another record earnings report
Expects no slowdown to growth
Ellie Mae is moving from strength to strength, and its president sees no end in sight to the company's growth potential.
After market close, the company reported record revenue of $90.1 million, up 37% from $65.9 million in Q2 2015. This broke the previous record revenue report, last quarter, which stood at $73.6 million.
Its net income came in at $10.6 million, up 39% from $7.6 million in Q2 2015.
“Second quarter results exceeded expectations across revenue, bookings and profitability,” said Jonathan Corr, president and CEO of Ellie Mae.
“Our results are reflective of the mortgage industry’s transformation toward technology-driven solutions and our expanded market leadership," Corr added.
Corr also indicated that more growth is to be expected and investors should come to see continued success.
"Our business also benefits from an improving housing and origination market. With the strong first half complete, we are raising our 2016 full year guidance,” he added.
Earlier this week, Ellie Mae, a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, announced an enhanced integration with First American Title Insurance Company, one of the largest title insurers in the nation.
The path to success is long and notable at Ellie Mae, with events too numerous to mention here.