SOURCE: TraceLink Inc.

TraceLink Inc.

August 03, 2015 09:00 ET

TraceLink Adds 50 Customers in Q2 2015, Delivers Highest Quarterly Bookings and Revenue in History

Two-Year Revenue Compound Annual Growth Rate (CAGR) Increases to 109 Percent

NORTH READING, MA--(Marketwired - Aug 3, 2015) - TraceLink Inc., the world's largest track and trace network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace, today announced record performance for Q2 2015. Growth highlights for the quarter include:

  • An 86 percent increase in year-over-year revenue growth;

  • A two-year revenue CAGR of 109 percent, an increase of 18 percent year-to-date;

  • The addition of 50 new customers in Q2, which contributed to a 76 percent increase in quarterly sales bookings, and a 128 percent increase in year-over-year sales bookings; and,

  • A 178 percent increase in year-over-year staff growth at the close of Q2.

"Demand for TraceLink solutions is accelerating as Life Sciences companies face increased pressure to meet global compliance deadlines," said Shabbir Dahod, president and CEO of TraceLink. "Customer wins in the quarter included a large mix of suppliers, from top-20 pharmaceutical companies addressing complex serialization requirements for Brazil and the US, to top-10 pharmacy chains, hospitals and independent pharmacies preparing for the US DSCSA July 1, 2015 dispenser deadline. As Life Sciences companies evaluate their options for meeting compliance regulations across multiple geographies, they continue to select TraceLink once they recognize that traditional technology approaches have significantly limited ability to meet the scalability, partner connectivity, and flexible configuration needs of a successful track and trace implementation with the least risk."

Additional TraceLink Q2 growth milestones include:

  • Growing the Life Sciences Cloud network to include more than 186,000 pharmaceutical manufacturers, distributors and dispensers -- a 42 percent increase over the 131,000 supply chain members reported in Q1 2015;

  • Protecting more than 676 million drug products moving through the global supply chain -- to ensure that prescription medicines meet necessary compliance requirements and reach patients without incident;

  • Processing 9.9 million Transaction Histories for US DSCSA lot-level compliance in Q2 -- a 283 percent increase over the 3.5 million Transaction Histories processed in Q1 2015;

  • Processing more than 170 million serialization events in Q2 for pharmaceutical products in China, South Korea, Turkey, India, and the US -- bringing the cumulative total of serialized events processed by TraceLink at the close of Q2 to 2. 1 billion;

  • Completing 5 quality audits in Q2 by a range of global pharmaceutical companies, bringing the total number of successful quality audits completed to 24 since the beginning of 2014; and,

  • Integrating more than 420 suppliers into the Life Sciences Cloud -- providing any trade partner with the opportunity to connect once to TraceLink and instantly link to these integrated suppliers to eliminate compliance paperwork from their operations.

To learn more about meeting global pharmaceutical compliance deadlines and how to build a flexible serialization, track and trace, and reporting platform for Brazil, China and other countries, visit www.tracelink.com.

About TraceLink
TraceLink protects patients, enables health and ensures compliance for companies across the global Life Sciences supply network, including 16 of the top-20 global pharmaceutical companies. Leading businesses trust the TraceLink Life Sciences Cloud, our Amazon AWS-based cloud application platform, to deliver complete global connectivity, visibility and traceability of pharmaceuticals from ingredient to patient. A single point and click connection to the Life Sciences Cloud creates a supply chain control tower that delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations. Winner of numerous industry awards including the Amazon AWS Global Start-Up Challenge Grand Prize and the Edison Award for Innovation in Health Management, the TraceLink Life Sciences Cloud is used by businesses across the globe to meet strategic goals in ensuring global compliance, fighting drug counterfeiting, improving on-time and in-full delivery, protecting product quality and reducing operational cost. For more information on TraceLink and our solutions, visit www.tracelink.com or follow us on LinkedIn, Twitter and Facebook.

TraceLink is funded by FirstMark Capital, Volition Capital and Fidelity Biosciences.

Contact Information

  • Media Contact:
    Lisa Allocca
    Red Javelin Communications
    (978) 470-2227
    Email Contact