TraceLink Achieves 97% Revenue Growth in Q4 and 85% Overall Revenue Growth for 2017
NORTH READING, Mass., Feb. 12, 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 fourth quarter and full year of 2017.
Quarterly and annual growth highlights for 2017 include:
- An 85 percent year-over-year increase in overall revenue for 2017;
- A 97 percent year-over-year increase in Q4 revenue, including record Q4 revenue growth in the following regions:
- 292 percent revenue growth in EMEA;
- 426 percent revenue growth in India; and,
- 546 percent revenue growth in APAC.
- A 68 percent year-over-year increase in all bookings for 2017;
- A two-year revenue compound annual growth rate (CAGR) of 70 percent; and,
- A 68 percent year-over-year increase in global employee growth for a total of 400 employees located in the Company’s five global office locations.
“This past year was a collection of major accomplishments for the company as we successfully expanded our global market leadership position in the US, EMEA and APAC and increased worldwide customer adoption of the Life Sciences Cloud,” said Shabbir Dahod, president and CEO, TraceLink. “2018 is a pivotal year for both the US and Europe as companies finalize their serialization preparations to meet their respective November 2018 and February 2019deadlines. With our proven Life Sciences Cloud and information-sharing network, companies can rest assured that TraceLink is their long-term partner in helping them derive transformative value from a truly digital supply chain – from compliance and operational efficiency to patient engagement.”
Additional Q4 2017 growth highlights and milestones include:
- Demonstrating the largest customer base in the industry across 33 countries – with a total of more than 775 TraceLink customers and over 265,000 partners on the Life Sciences Cloud, spanning all segments within the global pharmaceutical supply chain, including:
- 51 percent representing pharmaceutical and contract manufacturers;
- 6 percent representing wholesale distributors and parallel importers; and
- 43 percent representing pharmacies, hospitals and health systems.
- Unveiling FutureLink, a new and innovative annual gathering of industry executives – dedicated to achieving regulatory compliance and shaping the future of digital drug supply with information sharing networks. FutureLink Munich will take place in June 2018 and FutureLink Chicago will take place in November 2018.
- Achieving the greatest volume of pharmaceutical companies live in production – with more than 180 companies shipping serialized product with TraceLink solutions and commissioning more than 550 million serial numbers.
- Unveiling results from the industry’s largest survey on serialization readiness in the U.S. and EU – with data from 660 respondents in the 2nd Annual Global Drug Supply, Safety and Traceability Report demonstrating the current state of serialization readiness.
- Expanding the industry’s only community for serialization stakeholders across the supply chain – adding 300 new members to the TraceLink Cloud Community during the fourth quarter, totaling over 3,400 Cloud Community members representing more than 700 companies in the life sciences supply chain.
- Processing global compliance reports for millions of product units – processing over 52,000 compliance documents for more than 150 million units of product in the EU, China, Brazil, India and South Korea.
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 Cloudto 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.