Some big name customer wins helped NetSuite to top expectations for its fourth quarter and full year.
For the fourth quarter, the firm reported a net loss of $32.4 million on revenues up 31% to $206.2 million, while for the full year, the net loss was $124.7 million – up $27 million year-on-year – on revenue of $741.1 million.
The firm added 616 new customers during the fourth quarter and at a higher average selling price, according to CEO Zach Nelson:
The dream is to add lots of customers at a higher average sales price. We saw that dream in Q4. It’s a beautiful dream. But given our druthers, we’d rather get as many customers as we can at the same average sales price rather than go to 10 customers at some gigantic sales price. That’s our philosophy.