A Growing Number of Businesses Rely on Comprehensive Software Solutions

FinancialBuzz.com News Commentary

NEW YORK, Oct. 14, 2021 /PRNewswire/ -- Technology has become the driving force for virtually every industry. In particular, cloud computing has become a major global industry and is primarily comprised of three main segments: infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and notably, software-as-a-service (SaaS). SaaS is a software distribution model in which a third-party provider hosts various applications. In return, the SaaS providers distribute the applications and make them available for consumers across the web. SaaS is the exterior portion that consumers see on their web page browser, however, IaaS and PaaS are the interior infrastructures that make it all possible. Snipp Interactive Inc. (OTC: SNIPF) (TSX-V: SPN), Zuora, Inc. (NASDAQ: ZUO), Yext, Inc. (NYSE: YEXT), Cloudera, Inc. (NYSE: CLDR), Nutanix, Inc. (NASDAQ: NTNX)

In 2019, the global platform as a service market share was dominated by the application PaaS segment, and is expected to maintain its dominance in the upcoming years. The growing capital investment on application development for mobile, web and enterprise promises significant growth opportunity for the market for application segment. Technology advancements in PaaS services such as AI capabilities are estimated to expand the platform-as-a-service industry for application segment growth. And, according to data provided by Allied Market Research, Allied Market Research

Snipp Interactive Inc. (OTC: SNIPF) (TSX-V: SPN) announced yesterday breaking news that, "it has generated the highest ever quarterly revenue in the Company's history with the revenue for Q3 2021 forecasted to exceed USD $5.3 million. This milestone reflects more than 145% year-over-year revenue growth from Q3 2020 which had revenue of USD 2.1 million and over 75% revenue growth from Q2 2021 which had revenue of USD 3.0 million. Over the nine months ended September 30, 2021, the Company has recorded approximately USD 11 million in revenue which is over 65% higher than the comparable nine months in 2020 which had revenue of USD 6.5 million and over 25% higher than the entire twelve months in 2020 which had revenue of USD 8.7 million.

EBITDA for Q3 2021 is also expected to be significantly higher than Q3 2020 with projected growth well over 100%. The Company will be announcing its full financial results for Q3 2021 in the next few weeks.

'We are pleased to announce this milestone in our revenue growth as well as continued profitability for the third quarter of 2021. Third quarter revenue was the highest recorded by the company in its history, continuing and building on the robust first two quarters of this financial year. Our revenue over the first nine months of 2021 surpassed our twelve-month 2020 revenue by over 25%. For the comparable nine-month period, our revenue is over 65% higher in 2021 than 2020, which is a testament to the value we are bringing to our clients. We look forward to ending the year on a strong note as our fourth quarter is also shaping up to continue this quarterly year on year growth trend. The team achieved these historical results by staying focused on our strategy through an extremely difficult environment and I would like to thank the efforts that every single one of our team members make every day to add value to our clients businesses. The most exciting part of our growth drivers is that we have only just begun demonstrating the applicability of our SnippCARE platform not only in new industries but also across global markets with both, our existing Fortune 500 clients and with net new and international customers. Consequently we will continue reinvesting our profits in pursuing this organic strategy while looking to extend our platform. We will also now more seriously invest in building strategic partnerships and research potential acquisitions that deepen our delivery capabilities, expand our share of wallet and enter new verticals.' said Atul Sabharwal, Founder & CEO."

Zuora, Inc. (NASDAQ: ZUO) announced last month a multi-tiered agreement with Microsoft to integrate several Microsoft products with Zuora®. Today's companies are looking for a new level of business agility to deploy new business models, launch product lines, and expand internationally. At the same time, they need their applications and platforms to help them scale to IPO and beyond. These new integrated solutions will deliver finance teams more agility, power enhanced subscription analytics, and make it easier than ever to deploy and adopt technology from two enterprise leaders. "Zuora customers work on a massive scale but need to deliver top-quality customized experiences to each individual subscriber, " said Sri Srinivasan, Chief Product and Engineering Officer at Zuora. "These new integrations between Zuora Revenue and Microsoft will deliver incredible agility into the tools that finance professionals use globally, offer new insights into subscription and revenue recognition analytics, and provide cloud infrastructure that scales to support the world's largest companies."

Yext, Inc. (NYSE: YEXT) announced earlier this month its designation as the No. 2 Enterprise Search Software on the Fall 2021 Grid® Report* by G2.com, Inc., a leading software review platform. This marks a two-spot jump from the company's No. 4 rank from last quarter. "We're grateful to every customer who took the time to publicly share their experiences with Yext on G2," said Marc Ferrentino, Chief Strategy Officer at Yext. "With their input throughout the years, we've been able to grow our AI search platform into the powerhouse it is today." Yext is the AI Search Company and is on a mission to transform the enterprise with AI search.

Cloudera, Inc. (NYSE: CLDR) introduced back in August the launch of Cloudera DataFlow for the Public Cloud, a cloud-native service for data flows to process hybrid streaming workloads on the Cloudera Data Platform (CDP). With Cloudera DataFlow for the Public Cloud, users can now automate complex data flow operations, boost the operational efficiency of streaming data flows with auto-scaling capabilities, and cut down on cloud costs by eliminating infrastructure sizing guesswork. "Cloudera DataFlow automates and manages cloud-native data flows on Kubernetes - and it is something only we offer," said Dinesh Chandrasekhar, Head of Product Marketing, Data-in-Motion at Cloudera. "Now it is easy for our customers to boost the operational efficiency of their streaming workloads and save on infrastructure costs in the public cloud."

Nutanix, Inc. (NASDAQ: NTNX) reported last month new capabilities in the Nutanix® Cloud Platform that make it easier for customers to simplify data management, and optimize database and big data workload performance for the most critical applications. The Nutanix Cloud Platform will deliver unstructured data tiering from on-premises to cloud, up to a 2x storage performance increase for database workloads and 3x for big data workloads without requiring complex reconfiguration, as well as Nutanix Data Lens™, a new unstructured data governance service. In addition, database service Nutanix Era™ now delivers one-click storage scaling and rich role based access control for database management across hybrid multicloud environments for database engines like PostgreSQL®, MySQL®, Microsoft® SQL Server, and Oracle® Database. "Customers require a variety of ways to store data—both structured and unstructured—and are looking for ways to simplify management without needing to rely on different vendors to do so," said Rajiv Mirani, Chief Technology Officer at Nutanix. "The new features in the Nutanix Cloud Platform extend our data centric innovation to high performance applications to deliver a unified platform with comprehensive data services for all workloads and all variety of data."

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