Magazine article Mortgage Banking

Ellie Mae Posts Record Quarterly Revenue in 2Q

Magazine article Mortgage Banking

Ellie Mae Posts Record Quarterly Revenue in 2Q

Article excerpt

Pleasanton, California-based Ellie Mae saw record revenue of $65.9 million in the second quarter, up 65 percent from one year ago when revenues were $40 million. Net income was also strong at $7.6 million, which was up by 62 percent from the second quarter of 2014.

The company reported that revenue per average active Encompass[R] user was $526 in the second quarter. That was up 28 percent from $410 in the same quarter a year ago.

The company raised its 2015 revenue guidance based on the strong quarterly results. For the full year 2015, revenue is now expected to come in within the range of $237.5 million-$238.5 million. That is up from the previously estimated range of $223 million-$226 million.

The company said it now expects net income for the year to come in at $10 million-$11.5 million. That is up from the previously provided range of $4 million-$5 million.

Commenting on the positive results, Jonathan Corr, president and chief executive officer of Ellie Mae, said, "Ellie Mae had a very strong second quarter with financial results that exceeded expectations and record seat bookings of 11,800. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.