BroadSoft: Softness Ending, Broad Opportunity Ahead
Darspal S Mann
Darspal S Mann
BroadSoft Broadsides Investors
Stephen Simpson, CFA
Stephen Simpson, CFA
Mon, May 2, 7:33 AM
Sun, May 1, 5:30 PM
Mon, Feb. 29, 1:01 PM
- BroadSoft's (BSFT +16.4%) Q4 beat has been accompanied by full-year guidance for revenue of $332M-$340M and EPS of $1.90-$2.10, favorable to a consensus of $325.1M and $1.93. Q1 guidance is for revenue of $70M-$74M and EPS of $0.20-$0.32 vs. a consensus of $68.7M and $0.24.
- Q4 billings (revenue + change in deferred revenue) totaled $91M, up 8% Y/Y. License software billings fell 2% to $36.4M. The deferred revenue balance stood at $111.1M (+9% Y/Y) at quarter's end.
- License revenue (drives future maintenance/services revenue) totaled $35.4M, subscription and maintenance support revenue $30.6M, and professional services/other revenue $23.6M. Non-GAAP operating expenses rose 22% Y/Y to $41M. BroadSoft ended 2015 with $248M in cash and $188M in convertible debt.
- Fellow VoIP/unified communications software provider Sonus (SONS +4%) is also having a good day.
- BroadSoft's Q4 results, earnings release
Mon, Feb. 29, 9:17 AM
Mon, Feb. 29, 7:32 AM
Sun, Feb. 28, 5:30 PM
Mon, Feb. 8, 2:51 PM
- BroadSoft (NASDAQ:BSFT) has bought Transera, a provider of cloud-based contact center software targeting both SMBs and enterprises. For now, terms are undisclosed.
- BroadSoft declares the purchase will allow its service provider clients to "comprehensive cloud contact center portfolio with minimal new investments, rapid time-to-market, and seamless integration with BroadSoft's BroadWorks [unified communications software] and BroadCloud [managed UC services] solutions." It also praises Transera's support for omni-channel (voice, e-mail, chat, and social media) communications and advanced contact center analytics.
- Transera is expected to contribute $7M-$8M in 2016 revenue, while diluting EPS by $0.02-$0.03. The acquisition follows the purchase of Japanese hosted UC service provider PBXL.
- BroadSoft is seeing huge losses as equity markets tumble; many other software firms are in the same boat. Q4 results arrive on Feb. 29.
Wed, Jan. 20, 8:49 AM
- Declaring the company's recent 21% pullback spells a buying opportunity, Wells Fargo's Jess Lubert has upgraded BroadSoft (NASDAQ:BSFT) to Outperform. His target range is $38-$42.
- Lubert asserts BroadSoft's hosted unified communications software/services ops should see 20%+ growth for the third straight year in 2016. The upgrade comes ahead of BroadSoft's Feb. 29 Q4 report.
- BroadSoft is up 2% premarket to $32.43 - one of the handful of tech names trading higher on an ugly morning for equity futures. Shares soared in November in response to a Q3 beat and strong Q4 guidance, but have more than given back their gains since as markets slumped.
Nov. 13, 2015, 2:47 PM
- BroadSoft (BSFT -1.9%) is buying PBXL, a Japanese provider of hosted/cloud-based unified communications services and call center systems. Terms are undisclosed.
- BroadSoft declares the purchase will let it help service providers sell hosted UC services to a Japanese SMB market containing 5M businesses. PBXL is expected to contribute $1.5M in 2016 revenue, and be dilutive by $0.02 to both 2015 and 2016 EPS.
- Five months ago: BroadSoft buys mobile app design firm mPortal
Nov. 4, 2015, 11:31 AM
- In addition to beating Q3 estimates, BroadSoft (NASDAQ:BSFT) is guiding for Q4 revenue of $78M-$84M and EPS of $0.58-$0.74, favorable at the midpoints to a consensus of $80M and $0.62.
- The carrier VoIP/UC software provider's billings (closely watched) rose 25% Y/Y in Q3 to $71M, topping revenue of $69.1M. License revenue rose 22% to $31.3M. Subscription/maintenance support revenue rose 23% to $29.8M, and professional services/other revenue 68% to $7.9M. Operating expenses (non-GAAP) rose 27% to $39.4M.
- Shares have jumped to new 52-week highs.
- Q3 results, PR
Nov. 4, 2015, 7:36 AM
- BroadSoft (NASDAQ:BSFT): Q3 EPS of $0.36 beats by $0.03.
- Revenue of $69.1M (+26.5% Y/Y) beats by $1M.
Nov. 3, 2015, 5:30 PM
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Sep. 10, 2015, 11:36 AM
- BroadSoft (NASDAQ:BSFT) is selling $175M worth of convertible senior notes due 2022. The notes carry a 1% interest rate, and an initial conversion price of $38.72 (28% above current levels). Initial purchasers have a $26.25M overallotment option.
- BroadSoft won't be able to redeem the notes before Sep. 2019. Net proceeds (expected to total $169.3M-$194.8M) will partly be used to repurchase $53M worth of 1.5% convertible notes due 2018, and buy back $25M worth of shares from the buyers of the new convertible offering.
- The carrier VoIP/UC software and service provider had $150.5M in cash and $100M in convertible debt at the end of Q2.
Aug. 3, 2015, 2:04 PM
- BroadSoft (NASDAQ:BSFT) now expects 2015 revenue of $264M-$272M and EPS of $1.36-$1.61 - the former is improved from prior guidance of $260M-$268M, but the latter has been cut from a prior $1.42-$1.66. Consensus is at $264.9M and $1.55.
- The guidance is said to reflect BroadSoft's acquisition of mobile app design firm mPortal, and a higher tax rate. BroadSoft previously said mPortal would contribute $4M to 2015 revenue, and dilute EPS by $0.02-$0.03 before becoming accretive in 2016. Q3 guidance is for revenue of $66M-$70M and EPS of $0.27-$0.37 vs. a consensus of $0.27-$0.37.
- Top-line performance: License revenue rose 18% Y/Y in Q2 to $30.1M. Subscription/maintenance revenue rose 23% to $27M, and professional services/other revenue 51% to $7.4M. Billings rose 20% to $70.8M, topping revenue of $64.5M. The deferred revenue balance rose 33% to $107.7M.
- Financials: Operating expenses were 58% of revenue, the same as a year ago - sales/marketing was 26%, R&D 19%, and G&A 14%. BroadSoft ended Q2 with $150.5M in cash, and $100M in convertible debt.
- Q2 results, PR
Aug. 3, 2015, 7:39 AM
- BroadSoft (NASDAQ:BSFT): Q2 EPS of $0.32 beats by $0.01.
- Revenue of $64.49M (+22.9% Y/Y) beats by $2.47M.
Aug. 2, 2015, 5:30 PM
BroadSoft, Inc. provides software and services that allow mobile, fixed-line, and cable providers to deliver voice and multimedia services to its customers. It products include BroadWorks, BroadCloud, and BroadTouch. The BroadWorks software enables service providers to deliver enterprises and... More
Industry: Application Software
Country: United States
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