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ServiceSource International (NASDAQ: SREV) announced a new agreement to provide renewals management services for a software provider, focusing on modernizing the customer renewal process. The initiative aims to assist clients in transitioning from perpetual licenses to subscription models, enhancing customer relationships through continuous engagement. This partnership adds a rapidly growing company in data visualization to ServiceSource's client portfolio, leveraging its Customer Journey Experience practices to drive client value and retention.
ServiceSource International, Inc. (NASDAQ: SREV) will announce its financial results for the first quarter ended March 31, 2021, after the market close on April 28, 2021. A conference call to discuss these results is scheduled for April 29, 2021, at 9:30 a.m. ET. ServiceSource is a global leader in outsourced go-to-market services, specializing in B2B digital sales and customer success transformation, serving clients in 178 countries and conducting commerce in 45 languages.
ServiceSource International, Inc. (NASDAQ: SREV) announces participation in two upcoming investor conferences. Executives Gary B. Moore and Chad Lyne will host one-on-one video calls on March 16, 2021, at the Virtual 33rd Annual Roth Conference. They will also present at the Sidoti & Company, LLC Spring 2021 Virtual Conference on March 25, 2021, at 12:15 p.m. ET, along with one-on-one video sessions. ServiceSource specializes in B2B digital sales and customer success, operating in 178 countries and driving billions in client value annually.
ServiceSource (NASDAQ: SREV) reported its Q4 and full-year 2020 financial results, noting a GAAP revenue of $51.1 million for Q4, down from $54.9 million in Q4 2019. The company saw a net loss of $1.7 million for the quarter, improved from a loss of $2.5 million a year prior. For the full year, revenue was $194.6 million, down from $216.1 million in 2019, with a net loss of $18.5 million. Despite these challenges, ServiceSource expanded partnerships with key clients and increased adjusted EBITDA to $4.8 million in Q4. The company maintained strong cash reserves of $36.3 million.
ServiceSource International (NASDAQ: SREV) will release its financial results for Q4 and full year 2020 after market close on February 24, 2021. A conference call follows on February 25, 2021, at 7:30 a.m. MT (9:30 a.m. ET) to discuss these results. Investors can dial in or access a live webcast on the ServiceSource Investor Relations website. This announcement marks an important opportunity for stakeholders to gauge the company's performance and outlook as it continues to operate as a global outsourced B2B service provider.
ServiceSource International, Inc. (NASDAQ: SREV) has promoted Jenny Frank to Chief Accounting Officer. She will oversee corporate accounting, SEC reporting, treasury, procurement, stock administration, and internal audit functions globally, reporting to CFO Chad Lyne. Chad highlighted Jenny's significant contributions over her three years with the company, emphasizing her leadership and expertise. With over a decade of accounting and audit experience, Jenny is expected to strengthen the company’s financial operations and support its long-term strategic goals.
ServiceSource International, Inc. (NASDAQ: SREV) announced that Chad W. Lyne will take over as CFO from Richard G. Walker on Nov. 1, 2020. Walker, who has served as CFO since Nov. 2018, will remain on the Board of Directors and assist in the transition until Dec. 15, 2020. Gary B. Moore, CEO, praised Walker for his contributions and emphasized the strong succession plan in place. Lyne, who joined ServiceSource in 2016, brings extensive experience in strategy and corporate development, which is expected to support the company's transformation efforts.
ServiceSource (SREV) reported third-quarter 2020 results, achieving GAAP revenue of $45.8 million, down from $53.4 million in Q3 2019. The GAAP net loss was $5.6 million, or $0.06 per share, compared to a loss of $4.4 million in the same quarter last year. Non-GAAP net loss reached $1.6 million, with adjusted EBITDA at negative $0.2 million, contrasted with a positive $1.1 million in Q3 2019. Positive cash flow of $3.4 million was reported, and 87% of contract value up for renewal was renewed or extended, indicating operational resilience.
ServiceSource International, Inc. (NASDAQ: SREV) has renewed its partnership with Qlik under a new three-year agreement, continuing to provide revenue renewal, customer success, and inside sales services. This collaboration, which has been ongoing since 2016, enhances Qlik's customer adoption, retention, and growth across global markets in multiple languages. Both companies emphasized the success of their relationship in improving customer satisfaction and loyalty, indicating a positive trajectory for future growth.
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