SAN JOSE, Calif., Oct. 29, 2015 /PRNewswire/ -- Objectivity, Inc., announced today that business operations continued to expand in FY15, ending the Fiscal Year with strong revenue growth and achieving a number of financial records in the process. Revenue grew by more than 21%, fueled by record bookings and leading to double digit profits for the Fiscal Year ending June 30, 2015.
Objectivity CEO, Jay Jarrell states, "I am very satisfied with what we were able to achieve in FY15 and look forward to continued growth into FY16. With record deferred revenues and an anticipated strong positive reaction to our new generation of an advanced fusion product, I expect FY16 to be another positive year."
"In addition to a 31% increase in deferred revenues, our cash and accounts receivables balance grew by 25%, fueling a 77% increase in working capital during FY15. This provides Objectivity with the resources in FY16 to invest across the company to increase our development, marketing, and sales efforts to accelerate our growth moving forward", says Gary Lewis, CFO.
Jarrell added that he expects to see significant expansion of Objectivity's customer base as the new fusion product becomes available. "Our fusion product takes a new approach based on our experience enabling organizations to quickly and easily gain actionable insights from their Fast Data. Our goal is to help our customers accelerate time-to-production of fusion applications. With one of the most talented and energetic group of employees in Silicon Valley, a core product base, and the deployment of our data fusion product, we are well positioned to be at the forefront of the big data market."
About Objectivity, Inc.
Objectivity, Inc. is a pioneer in high-performance distributed database platforms that power mission-critical applications for the most demanding and complex data sources in the enterprise. Objectivity enables organizations to accelerate time-to-value of their data assets at scale by enriching Big Data with Fast Data.
With a rich history serving Global 1000 customer and partners, Objectivity holds deep domain expertise in fusing vital information from massive data volumes to capture new revenue opportunities, drive competitive advantages and deliver better business value. Objectivity is privately held with headquarters in San Jose, California. Visit www.objectivity.com to learn more.
SOURCE Objectivity, Inc.