MINNEAPOLIS, Minn: Cachet Financial Solutions, Inc. announced results for the fourth quarter, 2014 its estimated cumulative contract value totaled a record $55.3 million, up 77% over the same year-ago quarter.
Cachet Financial Solutions is a leading provider of cloud-based SaaS mobile money management technology to banks, credit unions, and other financial services organizations. At the end of the fourth quarter of 2014, the company’s cumulative contract value totaled $55.3 million compared to $31.2 million at the end of the same year-ago period, with nearly the entire amount representing recurring revenue versus one-time setup or hosting fees.
In the fourth quarter of 2014, cost of revenues totaled $582,000 (82% of revenue) compared to $554,000 (137% of revenue) in the same year-ago period. The increase was primarily due to higher amortization expense associated with the intangible assets acquired with the Select Mobile Money acquisition in March 2014. Net loss attributable to common stockholders in the fourth quarter of 2014 totaled $3.5 million or $0.20 per basic and diluted share, compared to a net loss attributable to common stockholders of $2.7 million or $0.56 per basic and diluted share in the fourth quarter of 2013.
