Procurement
Meetings technology firm Cvent on Friday reported $39.3 million in fourth-quarter 2014 revenue, up from $30.7 million year over year.
Cvent reported a net quarterly operating loss of about $3 million, compared with a loss of $593,000 in the fourth quarter of 2013. Adjusted for interest, taxes, depreciation and amortization, Cvent reported a fourth-quarter profit of $3.3 million, up from $2.1 million year over year. For the full year, Cvent reported $142.2 million in revenue, up from $111 million in 2013, and an operating loss of $231,000, narrower than the $1.9 million reported in 2013. Full-year EBITDA totaled nearly $18 million, up from $14.8 million in 2013. The company in a statement cited Alexion Pharmaceuticals as a new enterprise client and Wal-Mart, among others, as a newly expanded strategic meetings management client. Cvent CEO Reggie Aggarwal during a Friday conference call said the company was developing solutions for management of "one-to-one meetings for financial events," with plans for a release "later this year."