NetSuite reported 2014 revenue of $556.3 million, up 34 percent from 2013. Q4 revenue reached $157.9 million, a 37 percent year-over-year increase.
NetSuite announced record results for its fourth quarter and fiscal year ending Dec. 31, 2014, capping off Q4 revenue of $157.9 million, a 37 percent year-over-year increase.
NetSuite, whose integrated cloud unified business management suite incorporates ERP, financial, CRM and e-commerce software, reported 2014 revenue of $556.3 million, up 34 percent from 2013.
The company's Q4 operating cash flow stood at $20.9 million, representing 21 percent growth over the prior year. Cash flow from operations was $74.9 million for the year, an increase of $12.7 million, or 20 percent, over the prior year.
On a generally accepted accounting principles basis (GAAP), net loss for the fourth quarter of 2014 was $25.3 million, or 33 cents per share, compared with a net loss of $20.2 million, or 27 cents per share, in the fourth quarter of 2013.
The GAAP net loss for 2014 was $100 million, or $1.31 per share, compared with a GAAP net loss of $70.4 million, or 95 cents per share, in 2013.
The company's non-GAAP net income for the fourth quarter of 2014 was $7.5 million, or 10 cents per share, compared with non-GAAP net income of $6.2 million, or 8 cents per share, in the fourth quarter of 2013.
Non-GAAP net income for 2014 was $25.0 million, or 32 cents per share, compared with non- GAAP net income of $19.9 million, or 26 cents per share, in 2013.
The company also announced three more partners have joined the NetSuite Solution Provider Program: Adaptive Road, BrainSell and Faye Business Systems Group (FayeBSG).
Adaptive Road, based in Minneapolis, is a new solution provider launched by ERP consultants to focus on NetSuite as an integrated cloud solution for ERP, CRM and e-commerce.
Topsfield, Mass.-based BrainSell is integrating NetSuite into a portfolio that includes Sage, Microsoft Dynamics, SugarCRM and other solutions, while FayeBSG, based in Woodland Hills, Calif., adds to its portfolio of SugarCRM, Sage, Act-On and other technologies with its NetSuite partnership.
The worldwide ERP market grew just 3.8 percent in 2013, according to a May 2014 report from IT research firm Gartner. The report found SAP retained its lead position in the market in 2013, selling $6.1 billion in ERP software, up from $6 billion in 2012.Oracle was second, with $3.117 billion in sales in 2013, down less than a percentage point from 2012's sales of $3.124 percent. NetSuite was cited by the report as being among the five fastest-growing vendors worldwide from 2012 to 2013, with revenue growing nearly 40 percent.