Nuance Communications reports strong growth in Q1 2016
Nuance Communications has reported its financial results for the first quarter fiscal 2016, ended December 31, 2015.
The company saw a GAAP revenue of $486.1 million, a significant increase over the $474.0 million Nuance reported a year ago.
Additionally, Nuance reported a non-GAAP revenue of $494.9 million, which includes $8.8 million of revenue lost to accounting treatment in association with acquisitions. The non-GAAP revenue is up from $489.0 million that Nuance reported in Q1 2015.
Like many companies, currency fluctuations had a negative impact on Nuance’s Q1 2016 revenue. If Q1 2015 currency rates were applied to Q1 2016 non-GAAP revenue, Nuance would have achieved about 2% organic non-GAAP revenue growth for the quarter.
In Q1 2016, the company’s total non-GAAP recurring revenue was $332.5 million and represented 67% of total non-GAAP revenue, compared to $321.7 million and 66% a year ago.
Additionally, Nuance reported net new bookings of $308.7 million in Q1 2016, which represents a 2% increase from the $303.8 million it reported the same period one year ago.
Once again, if Q1 2015 currency rates were applied to Q2 2016 net new bookings, Nuance’s net new bookings would have seen a 7% increase over the previous year.
In Q1 2016, Nuance experienced GAAP net loss of $12.1 million, compared to GAAP net loss of $50.5 million in Q1 2015.
Nuance reported non-GAAP net income of $113.0 million, which is a significant increase compared to its non-GAAP net income of $82.0 million in Q1 2015.
Finally, Nuance reported its Q1 2016 non-GAAP operating margin was 28.6%, up from 22.0% in Q1 2015. Meanwhile, its cash flow from operations in Q1 2016 was $141.1 million, up 48% from $95.7 million in Q1 2015.
“In our first quarter, Nuance delivered strong revenue, non-GAAP EPS, and cash flow from operations,” said Nuance CFO Dan Tempesta. “We continued to make substantial progress and achieve meaningful results from our formal transformation program. The entire organization is committed to ongoing performance enhancements that will lead us to improve growth, margins and shareholder value.”
Reported last month, the Australian Taxation Office (ATO) expanded its voice authentication program across its suite of online services by integrating Nuance Communication’s voice biometrics technology into the ATO mobile app.