SAP, Chrome River, Bottomline Give Their Quarterly Numbers

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Earnings season has fallen upon the markets once more. This week we take a look at the quarterly results from major B2B companies including SAP and FICO, along with other FinTech players like Bottomline Technologies, Mitek Systems and Chrome River. Take a look at how enterprise cloud adoption, continued use of checks and other factors are swaying the numbers for these companies.

SAP called its own Q1 “outstanding,” reporting a 49 percent increase in new cloud bookings in the first three months of the year, a crucial figure, analysts said, considering SAP has been transitioning from on-premise to cloud offerings for its enterprise clients and yet maintained profitability. The firm said 400 new customers signed on to its SAP S/4HANA tool, with cloud subscriptions and support revenues up by 24 percent in Q1 in its SAP Business Network segment alone. Shares were up 8 percent in the week prior to SAP’s announcement, reports said.

Mitek Systems saw an impressive 13.29 percent share increase last week ahead of the release of its earnings for Q2 of the fiscal year ending March 31. The company said it processed an estimated $1 trillion in check value through its mobile deposit offerings — with B2B payments behind much of that momentum.

“We expect use of Mobile Deposit to continue to grow substantially, driven in part by a strong demand among businesses,” said the firm’s General Manager, Payment Solutions, Michael Diamond. He cited data by the Association for Financial Professionals that recently found an increase in check use among corporates as another factor helping its mobile check deposit solution gain traction among business clients.

The company’s quarterly earnings figures beat analyst expectations, hitting $0.04 a share (above the predicted $0.02 a share). Revenue hit $11.4 million, above previous expectations of $10.33 million, reports said.

Bottomline Technologies revealed a 13 percent increase in subscription and transaction revenues — attributed mainly to its cloud offerings, it said — when it reported its fiscal year Q3 results last week. But net losses were up for the rim to $6.6 million — compared to $4.2 million for the third quarter of last year, it said. Core net income was also down, while GAAP net loss per share hit $0.17, compared to $0.11 during the same period a year prior. Still, Bottomline said it was “pleased” with the results, citing subscription and transaction revenue increases.

FICO may have missed its EPS target by $0.05 when it released its second quarter fiscal year results last week, but the company revealed some promising numbers. Revenue from its scoring services — which include B2B and B2C offerings — increased by $4.4 million year over year during the quarter, with B2B revenue specifically increasing by 2 percent (significantly lower than the 16 percent increase in B2C revenue, however). CEO Will Lansing said it was “another strong quarter across all lines of our business.”

Chrome River reported its largest-ever first quarter sales figures when it released its Q1 earnings results. The expense and invoice management company said it nearly doubled customer acquisition volume compared to the same quarter in 2016, hitting several key milestones during the period. Chrome River now has more than 600 customers across 100 countries, it said. In a statement, CEO Alan Rich said the firm is “thrilled” with these numbers.