Ellie Mae’s (ELLI) total revenue for the third quarter of 2015 hit $68.9 million, a jump compared to $42.8 million for the third quarter of 2014.
Net income for the third quarter of 2015 hit $6.2 million, or $0.20 per diluted share, compared to net income of $5.0 million, or $0.17 per diluted share, for the third quarter of 2014.
This beat analyst revenue expectations by $6.49 million and EPS expectations by $0.10.
The results follow Ellie Mae’s recent trend, with the previous quarter also posting a strong surge in revenue.
“Ellie Mae again delivered strong growth with third quarter financial results that exceeded expectations,” said Jonathan Corr, president and CEO of Ellie Mae.
“We grew revenue by 61% as we added more Encompass users, drove greater adoption of our services, and continued to see a sustained uptick in the purchase market,” he continued.
Other additional, positive metrics for the company include:
- The total number of active Encompass users increased 30% year-over-year to 135,000.
- The total number of active users of the SaaS version of Encompass increased 47% year-over-year to 116,000, or 86% of all active Encompass users.
- Revenue per average active Encompass user in the third quarter increased 24% year-over-year to $520.
Looking ahead, Ellie Mae expects revenue in the fourth quarter to be in the range of $59.5 million to $60.5 million. This reflects normal seasonality in a purchase-centric market, increased investments and expected purchase accounting impact for the Mortgage Returns acquisition.
For the full year 2015, Ellie Mae expects revenue to be in the range of $248.5 million to $249.5 million, up from the previously provided range of $237.5 million to $238.5 million.