75 percent increase in new U.S. bookings, large revenue growth in APAC and India, and largest FutureLink conference to date among highlights
NORTH READING, Massachusetts, Aug. 22, 2019 /PRNewswire/ -- TraceLink Inc., the world's largest integrated digital supply network, providing real-time information sharing for better patient outcomes, today announced financial and company results for the second quarter of 2019.
Financial growth highlights for Q2 2019 include:
A 75 percent increase in new year-to-date bookings in the U.S.;
A 42 percent increase in year-to-date revenue, including growth in the following regions:
62 percent revenue growth in EMEA;
91 percent revenue growth in APAC; and,
74 percent revenue growth in India.
A two-year revenue compound annual growth rate (CAGR) of 61 percent;
More than 1,200 customers by the end of Q2 across 47 countries:
64 percent representing pharmaceutical and contract manufacturers;
5 percent representing wholesale distributors, 3PLs and repackagers; and,
31 percent representing pharmacies, hospitals, clinics and health systems.
Over 500 employees worldwide at the end of Q2.
"The TraceLink journey continues to be incredibly exciting. Our digital network platform is quickly expanding, enabling applications that can be built to orchestrate patient-centric business processes and data across the end-to-end healthcare ecosystem – which will truly revolutionize the industry," said Shabbir Dahod, president and CEO, TraceLink. "As with past quarters, we experienced momentum across all regions as we grow the power of our network, helping customers around the globe navigate various complex requirements while also continuing to innovate on new solutions for the industry."
Additional Q2 2019 growth highlights and milestones include:
Achieving 78 percent growth over the previous quarter in serial numbers commissioned on the TraceLink network –totaling 4.1 billion serial numbers commissioned to date, demonstrating unparalleled network scalability.
Accelerating company and trade partner connectivity with a true "network effect"– adding more than 400 unique CMO connections on the TraceLink network, now totaling over 5,000.
Leading the market with the industry's most serialization-ready customers–with 671 companies on the TraceLink network that are live with serialization.
Hosting the largest FutureLink to date – bringing together more than 265 attendees in Barcelona to the industry's only thought leadership forum for the end-to-end supply chain, and preparing for its U.S. event, taking place in Nashville October 2-4, 2019.
Announcing TraceLink's acceptance into the U.S. Food and Drug Administration's Drug Supply Chain Security Act Pilot Project Program –delivering 2023 traceability by leveraging blockchain and digital recalls across a supply network.
Facilitating industry collaboration with TraceLink's Customer Community – adding 825 members, totaling 5,565 members representing more than 1,339 companies, the Community provides a platform for networking, innovation and education that is shaping the future of an integrated digital supply network.
Growing the TraceLink leadership team– adding four new executives with significant SaaS and supply chain expertise.
About TraceLink TraceLink is the world's largest integrated digital supply network, providing real-time information sharing for better patient outcomes. 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. The TraceLink digital supply network 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.