Mulesoft Inc (NYSE:MULE) a provider of the major platform for advancing application networks, reported that its CEO Greg Schott will exhibit at the Morgan Stanley Technology, Media & Telecom Conference in San Francisco. The company’s presentation is planned for February 27, 2018 and will be available live through webcast at investors.mulesoft.com.
MuleSoft’s objective is to help firms innovate and change faster by making it seamless to connect the world’s data, devices and applications. With its API-led plan to connectivity, the company’s market-major Anypoint Platform™ is allowing more than 1,200 firms in around 60 nations to advance application networks.
Recently, the company posted financial reported for its fourth closed December 31, 2017. Greg Schott, the CEO and Chairman of Mulesoft, expressed that strong market demand and robust sales execution enabled them to deliver Q4 2017 revenue ahead of expectations. They are thrilled about company’s growth opportunity and anticipate to reach total revenue of $1 billion in 2021. Their disruptive platform is aiming one of the leading segments of enterprise IT spend, and they are assured in their long-term plan to turn into the de facto application network base for their consumers to become increasingly agile and to revolutionize their businesses.
For Q4 2017, Mulesoft reported revenue of $88.7 million, a jump of 60% YoY. Subscription and support revenue came at $70.6 million, a jump of 57% YoY. GAAP gross margin came at 71.2% in Q4 2017, versus 72.7% in the same period, a year ago.
Non-GAAP gross margin stood at 72.9% in Q4 2017, as against 73.2% in the comparable period, a year earlier. Gross margin (on a non-GAAP basis) for professional services and subscription and support revenue each increased YoY; however, aggregate gross margin dropped due to the increased mix of services revenue, which exhibits a lower gross margin as compared to subscription and support.