Allegro Reports 23 Percent Growth in 2014
January 30 2015 - 9:00AM
Business Wire
Recent Acquisition, Customer Wins, Industry Awards Fuel
Momentum
Allegro Development Corporation, a leading provider of commodity
risk management software, announced today its fiscal results for
2014, reporting a 23 percent revenue and more than 30 percent
EBITDA year-over-year increase compared to 2013.
The growth was fueled by the addition of 22 new logo accounts
spanning global commodity markets, including major players
transacting business in the commodities of power, gas, crude and
natural gas liquids. Growth in maintenance, services and other
categories contributed to the watershed year.
In July, Allegro's mounting success caught the attention of
Vector Capital, a leading global private equity firm specializing
in transformational investments in established technology
businesses, and Cerium Technology, an investment fund focused on
energy, trading and technology. Vector and Cerium subsequently
acquired the software company, recapitalizing Allegro with plans to
expand its product offering and sales footprint in 2015. Jason Liu
was named as Allegro's interim CEO.
"Our goals for the coming year embrace a three-pronged approach
to continuing the positive momentum that has been accelerating in
recent years," said Mr. Liu. "We will pursue existing markets with
our core product, extend that product to accommodate adjacent
markets and explore other merger and acquisition
opportunities."
In addition to being named Energy Risk magazine's "ETRM Software
House of the Year" and one of CIO Review's "Top 20 Most Promising
Compliance Technology Solution Providers," Allegro also bracketed
its 2014 accomplishments with the following highlights and
announcements:
- Successfully completed the latest
update to its general release, enhancing its core product,
improving overall quality, strengthening the software's performance
and continuing to innovate in the areas of business intelligence,
user experience and scalability.
- Released the Alpha version of its
Allegro Insight product, a business intelligence engine providing
reports, analysis and decision-support through an intuitive,
graphical, dashboard interface.
- On boarded 50 new employees to
strengthen Allegro’s capabilities across the organization.
- Completed a ComTech Advisory customer
survey, revealing that 100 percent of respondents claimed they
would refer Allegro, and 87 percent claimed they received value
from the Allegro system.
- Experienced significant revenue growth
in core geographies last year, including:
- 16 percent growth in North America,
underscored by the addition of a large fuel supplier that is a
subsidiary of a convenience store giant located in the US.
- A record 43 percent overall growth in
EMEA, including the company's largest ever license account.
- 14 percent growth in APAC, fueled by a
140 percent increase in license revenues and successful "go-lives"
for key customers in China and Australia.
- New flagship accounts in untapped
territories, including Eastern Canada, South America and
China.
- A record year in service revenue and
utilization.
- Record attendance at its 2014 global
Summit, and strong showings at each of its various user meetings
and conferences held annually by region.
"We view 2015 as our Year of Transformation," said Michael
Hinton, Allegro's Chief Customer Officer and Senior Vice President
of Products and Solutions. "Building on the innovation Allegro
demonstrated in 2014, and expanding on our reputation as a thought
leader in the commodity risk management industry, we are poised for
aggressive growth and development on all fronts."
About Allegro
Allegro is a leading provider of commodity trading and risk
management software for power and gas utilities, refiners,
producers, traders and commodity consumers. With more than 30 years
of deep industry expertise, Allegro provides real-time intelligence
and decision-making capabilities, from the source of the commodity
(ground), through transportation, to the commodity consumer.
Allegro's software provides the global intelligence companies need
to manage physical and financial positions, and to optimize their
assets and portfolios using tools that quantify and mitigate risks.
Headquartered in Dallas, Texas, Allegro has offices in Calgary,
Houston, London, Singapore, Sydney and Zurich, along with a global
network of partners.
For further information please contact Samantha Johnston at
media@allegrodev.com or +1.214.237.8149.
Allegro Development CorporationSamantha Johnston,
+1-214-237-8149media@allegrodev.com