ServiceSource Inc. (NASDAQ: SREV) stock declined by 3.45% at the last trading close whereas the SREV stock gains by 8.57% in the after-hours trading. This change in SREV stock price is not followed by any recent news. ServiceSource International is a multinational outsourced go-to-market services company that helps companies transform their B2B digital sales and customer success strategies. Our skilled salespeople, data-driven knowledge, and tried-and-true methodologies help businesses scale and reimagine customer journeys that result in profitable business outcomes.
Recent Past Developments
Service Source’s executives have recently participated in two investors conference. Given below are the details:
- SREV, on March 16 2021 has participated in the Virtual 33rd Annual Roth Conference.
- And on March 25, 2021, SREV was a part of Sidoti & Company, LLC Spring 2021 Virtual Conference.
On February 25, 2021, SREV announced its fourth quarter and full-year 2020 financial results. Given below is the summary:
- The GAAP revenue generated for the fourth quarter 2020 was $51.1 million compared to $54.9 million for the fourth quarter 2019. While the GAAP revenue for the full year 2020 was $194.6 million compared to $216.1 million for the full year 2019.
- SREV calculated its GAAP net loss as $1.7 million for the fourth quarter 2020 whereas for the fourth quarter 2019 the GAAP net loss was $2.5 million. The GAAP net loss for the full year 2020 was $18.5 million compared to net loss of $18.7 million for the full year 2019.
- The Non-GAAP net income was $2.3 million for the fourth quarter 2020 relative to $0.6 million for the fourth quarter 2019. While the Non-GAAP net loss was $2.3 million for the full year 2020 compared to $3.3 million for the full year 2019.
- The Adjusted EBTIDA, a non-GAAP financial measure was $4.8 million compared to $2.7 million recorded for Q4 2019. For the full year 2020 the values were $4.3 million compared with $4.2 million for the full year 2019.
- SREV ended the year with $36.3 million in cash, cash equivalents, and restricted cash, plus $15.0 million borrowed under the Company’s $40.0 million revolving credit facility.