REDWOOD SHORES, CA--(Marketwired - August 11, 2016) - Saba, a leading provider of intelligent cloud-based Talent Management solutions, today announced record results for its fourth quarter and fiscal year ended May 31, 2016.
Highlights from Saba's latest fiscal quarter and year include:
- During the fourth quarter and fiscal year, Saba achieved record bookings for the Saba Cloud talent management suite. Saba Cloud bookings increased a record 70% over the fourth quarter of the prior fiscal year and 73% year-over-year
- Saba added a record number of new Saba Cloud customers in the fourth quarter and more than 160 new customers in the year, including leading global organizations: Virgin Money, Special Olympics World Winter Games 2017, The World Economic Forum, DencoHappel, FRESSNAPF and Bavarian Authority for Finance
- Midmarket adoption of Saba's Talent Management suite continued to accelerate with over 30% year over year increase in Saba Cloud bookings
- More than 180 customers went live on Saba Cloud during the year which continued to deliver industry-leading customer retention rates
- 30 customers migrated from Saba Enterprise to Saba Cloud, including global industry leaders in the hospitality, services, and technology sectors
- Adjusted EBITDA increased to 24% for the fiscal year driven by strong new business sales growth, solid renewals, and improved operating margins.
"The significant growth we experienced in our cloud business during the fourth quarter and fiscal 2016 resulted from our relentless focus on delivering exceptional solutions and customer satisfaction," said Pervez Qureshi, CEO of Saba Software. "I'm particularly pleased that we added a record number of new Saba Cloud customers across our key vertical markets and geographies, while continuing to deliver industry-leading retention and renewal rates on Saba Cloud. This performance demonstrates the value our customers are deriving from our platform."
In addition to the strong financial performance and record bookings for the quarter and year, the company continued to deliver market-leading innovations across the Saba Cloud suite including:
- Significant advancements in blended learning and development, including advanced support for mobile and video learning
- Extended breadth of business analytics including predictive and prescriptive analytics
- Accelerated connected learning through the Saba Marketplace which provides access to open API's and integration to third-party solutions. This provides customers with powerful content curation capabilities to: create and leverage their own developmental content in any format, including video; integrate with enterprise content libraries like Open Sesame for compliance, certification, and skills development; and to integrate with a growing breadth of context that employees are requesting such as Massive Open Online Courses (MOOCs)
- Enhanced e-commerce features to expand support for extended enterprises and for-profit training
- Advanced next generation of employee and business performance management, leveraging NPS-like tools to elevate the way companies measure performance and organizational engagement, all with modern talent management workflows
Leading industry analysts Gartner, IDC, Aragon and Fosway, recognized Saba Cloud as a leader in learning management and a visionary in talent management, performance, compensation and recruiting.
Lisa Rowan, IDC's Research Vice President, HR, Talent, and Learning, stated "Saba has been out ahead of the curve on the use of advanced analytics and integration of social technology which its customers are using to transform their businesses."
"Our success this year comes from leveraging our deep domain expertise in collaboration with innovative customers like Hyatt, Dell, Air Canada and Guitar Center who push past the status quo in learning and talent," said Qureshi. "They inspire us to deliver engaging, personalized, and collaborative employee development experiences that enable individuals, teams, and companies to perform at their highest levels. We see this collaborative innovation as a huge opportunity to lead, shape and grow the learning and talent management market."
Saba delivers a cloud-based intelligent talent management solution used by leading organizations worldwide to hire, develop, engage and inspire their people. With machine learning at its core, Saba Cloud offers proactive, personalized recommendations on candidates, connections and content to help employees and businesses lead and succeed. It is purpose-built on a highly scalable platform that exceeds industry security and reliability standards. Saba has more than 31 million users and 2,200 customers across 195 countries and 37 languages. Learn more about intelligent talent management at www.saba.com.