ChannelAdvisor 2015 Revenue Up 18% to Over $100 million
Ecommerce software vendor ChannelAdvisor has announced its 2015 full year financial results, with its overall performance significantly improved compared to the previous year.
The total revenue for the year was $100.6 million, a 18 percent increase compared with total revenue of $84.9 million in 2014. On GAAP the company made a net loss of $21 million compared to a loss of $34.5 million in 2014. On EBITDA a profit of $1.4 million was made in 2015 compared to a loss of $19.5 million in 2014.
ChannelAdvisor processed $6.8 billion in total gross merchandise value in 2015, an increase of 19 percent from 2014. Total customer count was 2,898 at the end of the year, an increase of 2 percent from 2,841 customers at the end of 2014.
ChannelAdvisor CEO David Spitz said, "We had a very strong finish to the year, as our fourth quarter revenue and adjusted EBITDA were above the high end of our guidance ranges. Improvements in pricing, our focus on attracting and retaining larger retailers and branded manufacturers, and our emphasis on customer success helped produce a significant increase in gross merchandise value through our platform in the quarter, as well as continued growth in average revenue per customer. Revenue overperformance came largely from a meaningful increase in variable subscription revenue and enabled us to exceed the $100 million mark in annual revenue for the first time in our company's history."