NORTH READING, Massachusetts, May 15, 2018 /PRNewswire/ -- TraceLink Inc., the World's Largest Track and Trace Network for connecting the life sciences supply chain and providing real-time information sharing for better patient outcomes, today announced financial and company results for the first quarter of 2018.
Financial growth highlights for Q1 2018 include:
- A 69 percent year-over-year increase in Q1 revenue, including revenue growth in the following regions:
- 386 percent revenue growth in APAC;
- 270 percent revenue growth in EMEA; and,
- 159 percent revenue growth in India.
- A 43 percent year-over-year increase in all bookings for Q1, including a 177 percent increase in EMEA bookings for the quarter;
- A two-year revenue compound annual growth rate (CAGR) of 70 percent; and,
- A 38 percent annual increase in customers for a total of 821 customers across 35 countries, demonstrating the largest customer base for pharmaceutical track and trace and serialization, spanning all segments within the global life sciences supply chain, including:
- 54 percent representing pharmaceutical and contract manufacturers;
- 6 percent representing wholesale distributors and parallel importers; and
- 40 percent representing pharmacies, hospitals and health systems.
"I am extremely pleased with our Q1 performance. The investments we've made to grow our global business and serve customers in EMEA, APAC and the U.S. are paying off, enabling TraceLink to further advance its market share position as the only digital supply chain network for global serialization and track and trace," said Shabbir Dahod, president and CEO, TraceLink. "As transaction activity on our network grows through the increasing number of TraceLink customers that are serializing products and exchanging data with their ecosystems of trade partners, we are setting the stage for future business transformation with applications that will deliver a new paradigm of real-time digital information sharing across the entire supply chain."
Additional Q1 2018 growth highlights and milestones include:
- Leading the market with the industry's most serialization-ready companies - with over 390 companies live and configured to go live with TraceLink solutions, as of the end of Q1.
- Demonstrating unmatched scalability by commissioning 43 million serial numbers in March, the highest month in Q1 for commissioned serial numbers – and a 106 percent increase in serial numbers commissioned year-over-year, for a total of 670 million serial numbers commissioned to date.
- Accelerating company and trade partner connectivity as a result of the "network effect" on the Life Sciences Cloud with:
- More than 200 contract manufacturing organizations (CMOs) fully configured on the TraceLink Life Sciences Cloud and ready to exchange serialization data;
- An additional 450 CMOs currently in active testing on the TraceLink network and projected to be serialization ready in a matter of months; and,
- More than 4,600 links, or individual connections for serialization, between a customer and a trade partner, on the Life Sciences Cloud.
- Processing global compliance reports for millions of product units – processing over 62,000 compliance documents for more than 186 million units of product in the EU, China, Brazil, India and South Korea.
- Demonstrating the success of our easy-to-use system – with a total of 45,000 users regularly accessing the Life Sciences Cloud.
- Unveiling EU FMD Express, a purpose-built compliance solution for smaller pharmaceutical companies – providing a cost-effective, simplified solution designed specifically to address the needs of smaller pharmaceutical companies complying with the EU Falsified Medicines Directive (FMD.)
- Publishing the full analysis from the Global Drug Supply, Safety and Traceability Report, the industry's largest survey on life science companies' readiness for serialization deadlines - including data from 660 respondents in the pharmaceutical supply chain, and revealing a major disparity in industry's readiness to comply with track and trace regulations in the U.S. and EU.
- Setting the stage for FutureLink Munich, by partnering with global visionaries and industry thought leaders to deliver over 20 speaking sessions – through two separate tracks focused on Global Serialization and Compliance and Digital Drug Supply, Networks and Value.
TraceLink is the World's Largest Track and Trace Network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. Leading businesses trust the TraceLink Life Sciences Cloud to deliver complete global connectivity, visibility and traceability of pharmaceuticals from ingredient to patient. A single point and click connection to the Life Sciences Cloud creates a supply chain control tower that delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations. A winner of numerous industry awards including three consecutive years on Deloitte's Technology Fast 500 (ranked number 177 in 2017), the Amazon AWS Global Start-Up Challenge Grand Prize, and the Edison Award for Innovation in Health Management, the Life Sciences Cloud is used by businesses across the globe to meet strategic goals in ensuring global compliance, fighting drug counterfeiting, improving on-time and in-full delivery, protecting product quality and reducing operational cost. For more information on TraceLink and our solutions, visit www.tracelink.com or follow us on LinkedIn, Twitter and Facebook.
TraceLink is funded by Goldman Sachs, FirstMark Capital, Volition Capital and F-Prime Capital.
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