Ultimate Investor Relations released their 3Q – 2018 financial results on October 30, 2018. Ultimate gave investors another good quarter of consistent financial performance and began integrating PeopleDoc, their sixth acquisition to date, into their financial numbers.
Here are some of the ULTI financial highlights for 3Q 2018:
- Recurring Revenues for 3Q were $254.6 million and increased 25.6% over the same period last year
- Total Revenues for 3Q were $287.8 and increased 22.0% over the same period last year
- Annualized client retention rate was approximately 96%
- Ultimate ended the quarter with 4,482 employees
Ultimate closed on its previously announced acquisition of PeopleDoc during the quarter. PeopleDoc describes themselves as “HR Service Delivery in Cloud – We make it simple to do hard things.” The company offers HR Process Automation, Employee File Management, Advanced Analytics, and other solutions such as Accelerate Employee Onboarding.
Ultimate added approximately 1,000 customers with users working in 180 countries with their acquisition of PeopleDoc.
With the addition of PeopleDoc, Ultimate continues to offer innovative ways of enhancing and delivering cloud-based products that help solve customer’s business needs in a variety of ways. The acquisition will help drive Ultimate’s growing international business going forward.
Another outstanding quarter for Ultimate and it appears almost certain that the company will hit their goal of $1 billion in revenue this year. Ultimate’s next revenue goal is to achieve $2 billion by 2021.