PointClickCare Corp. (PCLK) Files $100M Common Stock IPO

PointClickCare Corp. (Nasdaq: PCLK) filed a registration with the U.S. SEC for an initial public offering of its Common Stock. The proposed maximum offering price is $100 million. The company plans to list on the Nasdaq under the symbol PCLK.

Underwriters on the offering are J.P. Morgan, Goldman, Sachs & Co., RBC Capital Markets, William Blair, and Canaccord Genuity.

Financial commentary: For fiscal years 2013 and 2014, and the six months ended April 30, 2015, our annual customer facility retention rates were approximately 99%. Our total revenue increased from $82.1 million in fiscal 2013 to $102.2 million in fiscal 2014, representing a 24% year-over-year increase, and increased from $48.2 million in the six months ended April 30, 2014 to $58.7 million in the six months ended April 30, 2015, representing a 22% period-over-period increase. Our subscription and support revenue increased from $70.5 million in fiscal 2013 to $90.6 million in fiscal 2014, representing a 29% year-over-year increase, and increased from $41.7 million in the six months ended April 30, 2014 to $54.6 million in the six months ended April 30, 2015, representing a 31% period-over-period increase. Subscription and support revenue represented 86%, 89% and 93% of total revenue in fiscal 2013, fiscal 2014 and the six months ended April 30, 2015, respectively. We had a net loss of $3.3 million in fiscal 2013 and a net loss of $11.0 million in fiscal 2014. Our net loss for the six months ended April 30, 2014 was $5.3 million and we generated net income of $0.3 million in the six months ended April 30, 2015. Our Adjusted EBITDA was $4.0 million in fiscal 2013, a loss of $1.2 million in fiscal 2014, a loss of $1.8 million in the six months ended April 30, 2014 and $4.4 million in the six months ended April 30, 2015.

PointClickCare is a leading provider of comprehensive cloud-based software solutions for the North American senior care industry.

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