[video] Looking to invest in ELLI stock? This is what the company does
Ellie Mae CEO on Mad Money
CNBC’s “Mad Money” with Jim Cramer put Ellie Mae in the spotlight in a recent episode to help show viewers what exactly they would be investing in.
Although the mortgage software provider company is performing well in the stock market, not everyone knows what the company does or what their money would be going toward.
To fix this, Cramer brought Ellie Mae CEO and president Jonathan Corr onto the show, where he explained how the company operates.
Corr explained the company’s growth in the video by saying:
The thing that has been driving our growth over the last five or six years has been this shift to embracing SAAS. This pressure to automate driven by demands for quality and dealing with all of the regulatory change that’s come out of Dodd-Frank.
Looking over the company’s most recent earnings report, Ellie Mae 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.