TraceLink Achieves 62% Overall Revenue Growth for Q2 2018 and 124% Annual Increase in New Customers
NORTH READING, Massachusetts, Aug. 14, 2018 /PRNewswire/ -- TraceLink Inc., the World's Largest Track and Trace Network for connecting the life sciences supply chain and providing real-time information sharing for better patient outcomes, today announced financial and company results for the second quarter of 2018.
Financial growth highlights for Q2 2018 include:
- A 62 percent year-over-year increase in Q2 revenue, including growth in the following regions:
- 226 percent revenue growth in EMEA;
- 160 percent revenue growth in APAC; and,
- 94 percent revenue growth in India.
- A 42 percent year-over-year increase in all bookings for Q2, including a 64 percent increase in EMEA bookings for the quarter;
- A two-year revenue compound annual growth rate (CAGR) of 71 percent; and,
- TraceLink added more than 130 new customers in Q2 2018, representing a 124 percent annual increase in new customers, for a total of 939 customers across 39 countries, including:
- 60 percent representing pharmaceutical and contract manufacturers;
- 5 percent representing wholesale distributors and parallel importers; and
- 35 percent representing pharmacies, hospitals, clinics and health systems.
"Our Q2 performance exceeded our expectations globally, and has established strong momentum for continued success in all markets going into the second half of 2018," said Shabbir Dahod, president and CEO, TraceLink. "With our unique information-sharing network, TraceLink has created the digital footprint for the entire life sciences supply chain ecosystem. As we close in on 1,000 customers and one billion serial numbers commissioned on our network, we will continue to expand our platform through network applications and deliver transformative business value both to individual organizations, and the entire pharmaceutical industry."
Additional Q2 2018 growth highlights and milestones include:
- Leading the market with the industry's most serialization-ready customers – with over 250 companies on the TraceLink network that are live with serialization, as of the end of Q2.
- Demonstrating unmatched scalability by commissioning 178 million serial numbers in Q2 – a 244 percent increase in serial numbers commissioned year-over-year, for a total of 910 million serial numbers commissioned to date.
- Accelerating company and trade partner connectivity as a result of the "network effect" on the Life Sciences Cloud with:
- More than 700 unique contract manufacturing organization (CMO) connections on the TraceLink network, a 110 percent CAGR in CMO network connections;
- More than 350 CMOs and pharmaceutical manufacturers fully configured and ready to exchange serialization data;
- An additional 720 CMOs and pharmaceutical manufacturers currently in active testing on the TraceLink network and projected to be serialization ready in a matter of months; and,
- More than 5,900 links, or individual connections for serialization, between a customer and a trade partner, on the Life Sciences Cloud.
- Receiving leadership chair positions on two GS1 industry workgroups – with TraceLink's Elizabeth Waldorf being named tri-chair on the GS1 GSMP Messaging for Verification of Pharmaceutical Saleable Returns Mission Specific Work Group (MSWG) and co-chair of the GS1 US Rx Secure Supply Chain (RxSSC) Workgroup.
- Processing global compliance reports for millions of product units – for over 72,000 compliance documents for more than 228 million units of product in the EU, China, Brazil, India and South Korea.
- Forging deep, collaborative input and insights from customers for future solutions – by launching Solution Innovation Groups that focus on topics such as saleable returns, verification and product recalls, holding 25 meetings for 144 individuals from 66 unique companies.
- Releasing its European Medicines Verification Organization (EMVO) conformance test kit – a streamlined program enabling its EU FMD customers to rapidly complete conformance testing and received EMVO approval to submit data to the EU Hub. Currently, 52 percent of companies successfully connected to the EU Hub are TraceLink customers.
- Executing the first FutureLink of the year, creating the industry's only venue for leaders from across the pharmaceutical supply chain converge – with over 100 unique companies attending the Munich conference, which hosted more than 35 presentations, spanning from regulatory compliance to digitizing the pharmaceutical supply chain.
Additional Resources:
- See more on the Digital Supply Chain
- Hear from 100+ pharma companies and CMOs on EU FMD readiness and the future of the digital drug supply
- Learn about TraceLink EU FMD Express
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About TraceLink
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 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 three consecutive years on Deloitte's Technology Fast 500 (ranked number 177 in 2017), 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.
TraceLink is funded by Goldman Sachs, FirstMark Capital, Volition Capital and F-Prime Capital.
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