CallidusCloud Reports Q1 Revenue Of $31M, Up 21%

CallidusCloud posted revenue of $31 million for the first quarter, an increase of 21%. Total recurring revenue was $22.3 million, which includes SaaS revenue of $18.2 million and maintenance revenue of $4.1 million.

"Q1 was a great start to 2014. We had record all time revenue, our margins expanded and we saw another consecutive quarter of non-GAAP net income," said Leslie Stretch, President and CEO of CallidusCloud. "We had strong new business wins driven by customers calling time on expensive point solutions. The Lead to Money cloud is proving to be a compelling option for companies who want integrated marketing and sales automation."

Other highlights of Q1 included the acquisition of LeadRocket, a digital marketing and social engagement platform. This technology acquisition will allow users to access campaigns from CallidusCloud's marketing automation for one to one conversations with their prospects across multiple channels.

CallidusCloud's partner ecosystem expanded with 25 new alliance partners and resellers including Docusign, Protiviti, and WalkMe.

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