NORTH READING, MA--(Marketwired - Jul 20, 2016) - 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 financial results for the second quarter of 2016.
Company growth highlights include:
- A 94 percent quarterly increase in overall sales bookings, delivering the highest quarterly new sales bookings in company history;
- A two-year revenue compound annual growth rate (CAGR) of 95 percent, representing the fifth-consecutive quarter where the company has delivered a two-year CAGR above 95 percent;
- A 127 percent increase in customer growth year-over year, with 57 new customers added during the second quarter, including pharmaceutical manufacturers, CMOs, repackagers, 3PLs, wholesale distributors, hospitals and pharmacies;
- A 69 percent increase in employee growth year-over-year, bringing TraceLink's total track and trace headcount to 230 employees worldwide;
- The EMEA (Europe, Africa and Middle East) region demonstrated strong growth during the second quarter, representing 28 percent of new SaaS bookings.
"This quarter's record-breaking growth validates TraceLink's leadership in the market as the preferred solution provider across all segments within the life sciences supply chain. During this pivotal time of global regulations and industry-wide resource constraints, companies are recognizing that time is running out and our proven solution is the only option to meet their needs," said Shabbir Dahod, president and CEO of TraceLink. "Over the next half of 2016, our ability to deliver superior products and services, combined with our mission to help customers protect their patients, will enable us to accelerate our growth in an explosive market, which in the U.S. and Europe alone, represents nearly a $1 billion opportunity."
Additional highlights for the second quarter of 2016 include:
- Experiencing a 62 percent year-over-year increase in the number of serial numbers commissioned -- by pharmaceutical customers on TraceLink's Life Sciences Cloud.
- Processing over 3,100 compliance documents for 6.3 million units of product in South Korea, India and the European Union -- through commercial availability of the TraceLink compliance modules for each country.
- Providing the most integrated serialization and warehouse operations solution with EdgeTRAC™ by ROC IT -- by executing a reseller agreement with ROC IT Solutions. The agreement streamlines point-of-purchase, project implementation and technical support for pharmaceutical companies seeking best-of-breed track and trace solutions that enable them to achieve regulatory compliance and efficiently track serialized inventory without any disruption to their warehouse operations.
- Being named the Leader in Worldwide Pharmaceutical Track and Trace Software by IDC MarketScape -- published in the March 2016 report, IDC MarketScape: Worldwide Pharmaceutical Track and Trace Software 2016 Vendor Assessment, which assessed solution providers in the pharmaceutical track and trace software market.
- Becoming the only provider to process over 100 Million Transaction History Files -- reinforcing TraceLink's proven ability in ensuring the scalability required by pharmaceutical manufacturer, distribution and dispenser customers to achieve lot-level compliance and prepare for serialization under the U.S. Drug Supply Chain Security Act (DSCSA).
To learn more about meeting global pharmaceutical compliance deadlines and how to build a flexible serialization, track and trace, and reporting platform for the U.S., the EU, China, Brazil, South Korea, India, Turkey, Argentina and other countries, please visit www.tracelink.com.
TraceLink is the world's largest track and trace network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. Leading businesses, including 16 of the top-20 global pharmaceutical companies, trust the TraceLink Life Sciences Cloud 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. A winner of numerous industry awards including Deloitte's Technology Fast 500 (ranked number 293 in 2015), the Amazon AWS Global Start-Up Challenge Grand Prize, and the Edison Award for Innovation in Health Management, the 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 F-Prime Capital.