Cvent

Entertainment & Publishing Technology cloud platforms enterprise software event management

Cvent is a cloud-based enterprise event management platform. The Company offers software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, e-mail marketing, and web surveys. Cvent provides hotels with a targeted advertising platform designed to reach event planners looking for suitable venues. The Company's solutions optimize the entire event management value chain and have enabled clients around the world to manage hundreds of thousands of meetings and events.

Type

Subsidiary

Parent Company

Vista Equity Partners

Mc Lean, US

Founded

1999

Website

cvent.com

Cvent was founded in 1999 and is headquartered in McLean, US

Key People at Cvent

David Quattrone

Co-Founder, Chief Technology Officer

Chuck Ghoorah

Co-founder, President of Worldwide Sales and Marketing

Cynthia Russo

Executive Vice President and Chief Financial Officer

Ed Benack

Senior Vice President of Client Services

Bharet Malhotra

Senior Vice President of Sales

Brian Ludwig

Senior Vice President of Sales

Larry Samuelson

Senior Vice President, General Counsel and Corporate Secretary

Anil Punyapu

Vice President of Enterprise Sales

Pete Floros

Senior Vice President of Product Management

Michael Lu

Vice President of Product Development

Daniel Lapus

Senior Vice President, Product Management

Nitin Malhotra

Senior Vice President of Corporate Development

Reggie Aggarwal

Founder, Chief Executive Officer and Chairman of Board of Directors

David Johnson

SVP, Engineering

Cvent Office Locations

Cvent has offices in McLean, Portland, Santa Barbara, Austin and in 13 other locations

Mc Lean, US (HQ)

1765 Greensboro Station Pl

Fredericton, CA

50 Crowther Ln

Dallas, US

Kpmg Centre 717 N Harwood St

London, GB

40 Melton St

Fredericton, CA

100 50 Crowther Ln

Chamblee, US

185 5256 Peachtree Rd

Austin, US

200 3601 S Congress Ave

Austin, US

8900 Shoal Creek Blvd

Santa Barbara, US

925 De La Vina St

Portland, US

200 308 Sw 2nd Ave

Cvent Data and Metrics

Cvent Summary

Founding Date	1999
Total Funding	$824.9 m
Investors	Global Internet Ventures, New Enterprise Associates, Birchmere Ventures, Potomac Ventures, Avatar Capital, Sachs Capital, Vista Equity Partners, Capital Investors, Hidden Star Ventures, Insight Venture Partners

In total, Cvent had raised $824.9 m. Cvent is a subsidiary of Vista Equity Partners

Cvent Financial Metrics

Cvent's revenue was reported to be $56.7 m in Q3, 2016 which is a 5% decrease from the previous period.

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015
Revenue	111.1 m	142.2 m	187.7 m
Revenue growth, %		28%	32%
Cost of goods sold	31.9 m	42.1 m	59.7 m
Gross profit	79.2 m	100.2 m	128 m
Gross profit Margin, %	71%	70%	68%
Sales and marketing expense	48.4 m	61.8 m	77.9 m
R&D expense	11.2 m	14 m	22 m
General and administrative expense	19.4 m	23.1 m	34.7 m
Operating expense total	81.2 m	100.4 m	144.5 m
EBITDA	15.1 m	18 m	27.5 m
EBITDA margin, %	14%	13%	15%
EBIT	(1.9 m)	(231 k)	(16.5 m)
EBIT margin, %	(2%)	(0%)	(9%)
Interest income	1 m	1.6 m	2.5 m
Pre tax profit	(924 k)	930 k	(14.5 m)
Income tax expense	2.3 m	(864 k)	4.4 m
Net Income	(3.2 m)	1.8 m	(18.8 m)

Quarterly

USD	Q1, 2016	Q2, 2016	Q3, 2016
Revenue	52.3 m	59.6 m	56.7 m
Cost of goods sold	14.6 m	17 m	16.6 m
Gross profit	37.7 m	42.7 m	40.1 m
Gross profit Margin, %	72%	72%	71%
Sales and marketing expense	18.8 m	25.8 m	19.6 m
R&D expense	10.4 m	11.8 m	12.2 m
General and administrative expense	9.1 m	9.6 m	12.7 m
Operating expense total	38.7 m	48 m	45 m
EBITDA	8.9 m	9 m	11.7 m
EBITDA margin, %	17%	15%	21%
EBIT	(1 m)	(5.1 m)	(4.9 m)
EBIT margin, %	(2%)	(9%)	(9%)
Interest income	552 k	406 k	209 k
Pre tax profit	(462 k)	(4.7 m)	(4.7 m)
Income tax expense	736 k	959 k	879 k
Net Income	(1.2 m)	(5.7 m)	(5.6 m)

Source: SEC Filings, Cvent, Inc.

Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015
Cash	146.4 m	144.5 m	118.7 m
Accounts Receivable	33.2 m	45 m	30.5 m
Current Assets	202.6 m	229.8 m	193.5 m
PP&E	7.9 m	22.5 m	24.4 m
Goodwill	12.7 m	20.8 m	38.9 m
Total Assets	235.8 m	300.9 m	301.6 m
Accounts Payable	5.4 m	5.1 m	1.7 m
Current Liabilities	89.1 m	105.6 m	108.5 m
Total Liabilities	93.8 m	127.1 m	127.3 m
Common Stock	40 k	42 k	43 k
Additional Paid-in Capital	168.9 m	199.2 m	218.5 m
Retained Earnings	(23 m)	(21.2 m)	(40 m)
Total Equity	142 m	173.8 m	174.3 m
Financial Leverage	1.7 x	1.7 x	1.7 x

Quarterly

USD	Q1, 2016	Q2, 2016	Q3, 2016
Cash	157.8 m	162.9 m	169.1 m
Accounts Receivable	26.6 m	24.5 m	29.1 m
Current Assets	217.5 m	212.9 m	220.5 m
PP&E	24 m	22.4 m	21.4 m
Goodwill	38.9 m	38.9 m	38.9 m
Total Assets	326.7 m	322.5 m	329.7 m
Accounts Payable	3.3 m	3.8 m	2.9 m
Current Liabilities	130.3 m	123.6 m	129 m
Total Liabilities	149.7 m	144.5 m	151.1 m
Common Stock	43 k	43 k	43 k
Additional Paid-in Capital	224 m	231 m	237.3 m
Retained Earnings	(42.6 m)	(48.3 m)	(53.9 m)
Total Equity	177.1 m	178.1 m	178.6 m
Financial Leverage	1.8 x	1.8 x	1.8 x

Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015
Net Income	(3.2 m)	1.8 m	(18.8 m)
Depreciation and Amortization	7.8 m	10.6 m	20.2 m
Accounts Receivable	(4.9 m)	(11 m)	13.3 m
Cash From Operating Activities	22.1 m	28.4 m	27.2 m
Purchases of PP&E	(4.2 m)	(18.8 m)	(8.4 m)
Cash From Investing Activities	(13.7 m)	(55.6 m)	(60.1 m)
Cash From Financing Activities	121.4 m	25.6 m	7.2 m
Income Taxes Paid	3.3 m	1.7 m	319 k

Quarterly

USD	Q1, 2016	Q2, 2016	Q3, 2016
Net Income	(1.2 m)	(6.9 m)	(12.4 k)
Depreciation and Amortization	5.9 m	12.3 m	19.1 m
Accounts Receivable	3.8 m	5.7 m	1.1 m
Cash From Operating Activities	37.7 m	43.7 m	50.8 m
Purchases of PP&E	(1.2 m)	(2.3 m)	(3.2 m)
Cash From Investing Activities	1.3 m	(1.1 m)	(3.3 m)
Cash From Financing Activities	466 k	2.6 m	4.1 m
Income Taxes Paid		(3.6 m)	(3.9 m)

Cvent Operating Metrics

	FY, 2011	FY, 2012	FY, 2013	FY, 2014	FY, 2015	Nov, 2016
Event Registrations Processed	5.76 m	7.33 m	8.71 m	10.95 m	14.96 m
Events and Meetings Managed	108 k	139 k	206 k	264 k	344 k
Room Nights Requested	9.11 m	13.85 m	20.93 m	27.4 m	29.34 m
Requests for Proposal Submitted	825 k	1.11 m	1.2 m	1.6 m	1.8 m
Venues in Database		200 k	218 k	235 k	240 k
Event and Meeting Planner Customers		6.2 k	6.9 k	7.7 k	8.8 k
Customers					15.8 k	28 k

Source: Cvent, Inc., SEC Filings

Cvent Revenue Breakdown

Cvent Job Categories

Cvent Median Salaries

Source: 122 public H-1B filings from Cvent

Competitors

etouches

Technology - Subsidiary

Conductor Technologies

Cvent

Key People at Cvent

David Quattrone

Chuck Ghoorah

Cynthia Russo

Ed Benack

Bharet Malhotra

Brian Ludwig

Larry Samuelson

Anil Punyapu

Pete Floros

Michael Lu

Daniel Lapus

Nitin Malhotra

Reggie Aggarwal

David Johnson

Cvent Office Locations

Cvent Data and Metrics

Cvent Summary

Founding Date

Total Funding

Investors

Cvent Financial Metrics

Income Statement

Revenue

Revenue growth, %

Cost of goods sold

Gross profit

Gross profit Margin, %

Sales and marketing expense

R&D expense

General and administrative expense

Operating expense total

EBITDA

EBITDA margin, %

EBIT

EBIT margin, %

Interest income

Pre tax profit

Income tax expense

Net Income

Revenue

Cost of goods sold

Gross profit

Gross profit Margin, %

Sales and marketing expense

R&D expense

General and administrative expense

Operating expense total

EBITDA

EBITDA margin, %

EBIT

EBIT margin, %

Interest income

Pre tax profit

Income tax expense

Net Income

Balance Sheet

Cash

Accounts Receivable

Current Assets

PP&E

Goodwill

Total Assets

Accounts Payable

Current Liabilities

Total Liabilities

Common Stock

Additional Paid-in Capital

Retained Earnings

Total Equity

Financial Leverage

Cash

Accounts Receivable

Current Assets

PP&E

Goodwill

Total Assets

Accounts Payable

Current Liabilities