Demandware, Inc., the industry-leading provider of enterprise cloud commerce solutions, announced strong financial results for its first quarter ended March 31, 2013.
First Quarter Highlights
- Subscription revenue for the first quarter was $18.9 million, a 39% year over year increase from $13.6 million in the first quarter of 2012
- Total revenue for the first quarter was $20.5 million, a 27% year over year increase from $16.1 million in the first quarter of 2012
-156 live customers at March 31, 2013, an increase of 42% from 110 last year
- 630 live sites at March 31, 2013, an increase of 57% from 402 last year
Subscription revenue in the first quarter was $18.9 million, a 39% increase over $13.6 million in the first quarter of 2012. On a comparable basis, excluding the $1.4 million in subscription revenue in the first quarter of 2012 from Neckermann GmbH, a Demandware customer that filed for insolvency proceedings on October 1, 2012, subscription revenue for the first quarter grew 55%.
Total revenue for the first quarter was $20.5 million, a 27% increase from $16.1 million a year ago. Excluding the $1.9 million in total revenue from Neckermann in the first quarter of 2012, total revenue grew 45%.
“2013 is off to a fantastic start for Demandware,” stated Tom Ebling, Chief Executive Officer, Demandware. “The power of our cloud solution is resonating loudly with larger enterprise-scale retailers and brands across vertical markets. As the pace of change in retail accelerates, companies are increasingly looking for alternatives to the inflexibility of traditional ecommerce solutions.
"This was demonstrated in the first quarter not only by our large customer wins, like Jo-Ann Stores and Avenue Stores, but also in the strength of our pipeline. Retailers recognize that the best alternative to drive innovation and deliver omni-channel experiences in their mission-critical digital commerce operations is found in the cloud and we are their only viable alternative as the leading enterprise-class, digital commerce cloud solution in the market.”
