Covisint

Covisint provides an open, developer-friendly, enterprise-class cloud platform to facilitate the rapid development and deployment of Internet of Things, Identity Management, and collaboration solutions. The platform enables users to securely identify, authenticate and connect users, devices, applications, and information.

Company Growth (employees)
Type
Public
HQ
Southfield, US
Size (employees)
297 (est)-12%
Covisint is headquartered in Southfield, US

Covisint Office Locations

Covisint has offices in Southfield, San Francisco, Neu-Isenburg, Staines-upon-Thames and in 1 other location
Southfield, US (HQ)
500 26533 Evergreen Rd
Shanghai, CN
4th floor, Hong Qiao Center Building, Block 2, Lane 631, Jin Zhong Rd, Chang Ning District
Staines-upon-Thames, GB
London Road, Staines-Upon-Thames
Neu-Isenburg, DE
34 Dornhofstraße
San Francisco, US
600 121 2nd St

Covisint Data and Metrics

Covisint Financial Metrics

Covisint's revenue was reported to be $70.2 m in FY, 2017
USD

Revenue (FY, 2017)

70.2 m

Revenue growth (FY, 2016 - FY, 2017), %

(8%)

Gross profit (FY, 2017)

37 m

Gross profit margin (FY, 2017), %

53%

Net income (FY, 2017)

(12.7 m)

EBIT (FY, 2017)

(12.7 m)

Market capitalization (26-Jul-2017)

99.8 m

Cash (31-Mar-2017)

33.2 m
Covisint's current market capitalization is $99.8 m.
USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

97.1 m88.5 m76 m70.2 m

Revenue growth, %

(9%)(14%)(8%)

Cost of goods sold

35 m33.3 m

Gross profit

41.1 m37 m

Gross profit Margin, %

54%53%

Sales and marketing expense

26.8 m

R&D expense

11.4 m

General and administrative expense

11.5 m

Operating expense total

49.7 m

EBIT

(35.6 m)(38.5 m)(14.7 m)(12.7 m)

EBIT margin, %

(37%)(44%)(19%)(18%)

Income tax expense

189 k69 k

Net Income

(35.7 m)(38.6 m)(14.9 m)(12.7 m)
USDQ1, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016

Revenue

21.6 m18.5 m18.4 m19.2 m17.4 m17.2 m16.6 m

Cost of goods sold

15.3 m9.8 m8.5 m8.8 m8.2 m8.9 m8.5 m

Gross profit

6.3 m8.7 m9.9 m10.3 m9.2 m8.3 m8.1 m

Gross profit Margin, %

29%47%54%54%53%48%49%

Sales and marketing expense

9.8 m7.5 m7.2 m8.6 m7.2 m7.1 m7.1 m

R&D expense

3.1 m3.7 m3.1 m3.1 m3.8 m3 m2.6 m

General and administrative expense

5.5 m4.1 m3.7 m2.7 m3.2 m3.2 m2.8 m

Operating expense total

18.4 m15.2 m14 m14.4 m14.2 m13.2 m12.5 m

EBIT

(12.1 m)(6.5 m)(4.1 m)(4 m)(5 m)(4.9 m)(4.4 m)

EBIT margin, %

(56%)(35%)(22%)(21%)(28%)(29%)(26%)

Pre tax profit

(4.1 m)(4 m)

Income tax expense

25 k67 k(23 k)52 k50 k24 k40 k

Net Income

(12.1 m)(6.6 m)(4.1 m)(4.1 m)(5 m)(4.9 m)(4.4 m)
USDFY, 2014FY, 2015FY, 2016FY, 2017

Cash

49.5 m50.1 m39.7 m33.2 m

Accounts Receivable

21.8 m15.3 m12.8 m

Current Assets

81.2 m72.8 m56.3 m44.2 m

PP&E

7.8 m5.1 m

Goodwill

25.4 m25.4 m25.4 m25.4 m

Total Assets

141.4 m121.8 m102 m85.1 m

Accounts Payable

3.9 m7.7 m5.1 m2.4 m

Current Liabilities

25.9 m34 m24.5 m19.9 m

Total Liabilities

24.6 m

Additional Paid-in Capital

140.6 m157 m162 m164.1 m

Retained Earnings

(38.9 m)(75.6 m)(90.5 m)(103.3 m)

Total Equity

101.6 m81.3 m71.3 m60.5 m

Financial Leverage

1.4 x1.5 x1.4 x1.4 x
USDQ1, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016

Cash

43.1 m47.2 m41.7 m37.6 m41.8 m34.8 m30.4 m

Accounts Receivable

18.7 m12.8 m12.6 m9.6 m8.9 m

Current Assets

73.3 m66.1 m59.4 m51.6 m54.3 m46.8 m41.6 m

PP&E

7.1 m6.5 m5.7 m

Goodwill

25.4 m25.4 m25.4 m25.4 m25.4 m25.4 m25.4 m

Total Assets

131.7 m115.1 m107.1 m98.7 m99 m90.3 m83.9 m

Accounts Payable

4 m5.3 m6.1 m5 m5.2 m4.7 m6.3 m

Current Liabilities

23.7 m32.7 m29.3 m23.7 m27.9 m24.6 m22.4 m

Additional Paid-in Capital

147.5 m158.4 m159.3 m161.4 m162.5 m163 m163.6 m

Retained Earnings

(51.1 m)(82.2 m)(86.3 m)(90.4 m)(95.5 m)(100.4 m)(104.8 m)

Total Equity

96.5 m76.2 m72.9 m70.8 m66.7 m62.3 m58.4 m

Financial Leverage

1.4 x1.5 x1.5 x1.4 x1.5 x1.4 x1.4 x
USDFY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(14.9 m)(12.7 m)

Depreciation and Amortization

6.8 m7.2 m

Accounts Receivable

2.5 m4.7 m

Accounts Payable

(4.2 m)(2.8 m)

Cash From Operating Activities

48.6 m541 k(10.4 m)(2.9 m)

Cash From Investing Activities

(8 m)(3 m)

Cash From Financing Activities

1.5 m(375 k)
USDQ1, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016

Net Income

(12.1 m)(6.6 m)(4.1 m)(4.1 m)(5 m)(4.9 m)(4.4 m)

Accounts Receivable

18.7 m12.8 m12.6 m9.6 m8.9 m

Accounts Payable

4 m5.3 m6.1 m5 m5.2 m4.7 m6.3 m
USDY, 2017

Revenue/Employee

221.2 k

Financial Leverage

1.4 x

Covisint Market Value History

Covisint Median Salaries

Source: 43 public H-1B filings from Covisint

Traffic Overview of Covisint

Covisint Online and Social Media Presence

Covisint News and Updates

BRIEF-Dialectic Capital continues to push for its nominees for election to Covisint board

* Continues to believe a reconstituted Covisint Corp board that includes Dialectic's nominees is required

Covisint Company Life and Culture

You may also be interested in