TraceLink has announced financial and company results for the fourth quarter and full year of 2017.
Quarterly and annual growth highlights for 2017 include:
- An 85 per cent year-over-year increase in overall revenue for 2017;
- A 97 per cent year-over-year increase in Q4 revenue, including record Q4 revenue growth in the following regions:
- A 68 per cent year-over-year increase in all bookings for 2017;
- A two-year revenue compound annual growth rate (CAGR) of 70 per cent; and,
- A 68 per cent 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 2019 deadlines. 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:
- 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 US 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 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.
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