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Mattersight Announces Third Quarter 2016 Results

CHICAGO, IL--(Marketwired - Nov 2, 2016) - Mattersight Corporation ( NASDAQ : MATR ), the pioneer in personality-based software applications, today announced financial results for the third quarter ended September 30, 2016.

"Mattersight's third quarter was marked by reaccelerated growth thanks to a deployment of backlogged revenue, which resulted in an on-target quarter-over-quarter revenue increase of 15%," said Mattersight CEO Kelly Conway. "We are extremely pleased with the progress we've made during the past quarter, and with our trajectory heading toward the end of the year. With a backlog that is up 64% over last year and a sales pipeline that continues to be the strongest we've ever seen, we expect to maintain our pattern of acceleration throughout 2017."

Third Quarter 2016 Financial Highlights

  • Bookings: Annual Contract Value (ACV) bookings for the third quarter were $4.7 million. ACV bookings for the last four quarters were $21.5 million.
  • Subscription Revenue: Total subscription revenue for the third quarter was $9.6 million.
  • Total Revenue: Total revenue for the third quarter was $10.4 million.
  • Backlog: ACV in deployment was $19.2 million at the end of the third quarter.
  • Gross Margin: Gross margin was 67% in the third quarter.

Third Quarter 2016 Business Highlights

  • Patent Acceleration: Added five new patents, bringing Mattersight's total U.S. patent portfolio to 31 and further bolstering the protection of Mattersight's innovative analytics and routing solutions.
  • Hercules Funding: Entered into a long-term loan facility for up to $30 million with Hercules Capital, with initial proceeds of $22.5 million. The facility will be used for working capital and general corporate purposes, and carries a term of 42 months.
  • Call to Loyalty: Hosted over 200 attendees from 70+...