TraceLink Achieves Highest Quarterly Revenue in History as Customer Growth for Q1 2016 Breaks Record
TraceLink Inc., the world’s largest track and trace network for connecting the life sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace, today announced financial results for the first quarter of 2016. Growth highlights include:
- A 66 percent revenue increase year-over-year, the highest quarterly revenue in company history;
- A two-year revenue compound annual growth rate (CAGR) of 106 percent, representing the fourth-consecutive quarter where the company has delivered a two-year CAGR over 100 percent;
- A 182 percent increase in customer growth year-over year, with a record-breaking 71 new customers added in the first quarter of 2016; and,
- A 93 percent increase in employee growth year-over-year.
“We’re off to a fantastic start in 2016, with momentum accelerating rapidly as compliance deadlines near for life sciences companies, and competitors are increasingly unable to deliver on the promises they’ve been making,” said Shabbir Dahod, president and CEO of TraceLink. “Time is running out, and as companies evaluate their options, they recognize that TraceLink is the most proven solution with the most live customers and the highest performance benchmarks. While competitors are trying to run tests with pilot programs, TraceLink’s live global pharmaceutical manufacturing customers are already operating at scale, shipping serialized products into eight countries. In addition, TraceLink’s US pharmacy and hospital customers now depend on our Product Track software to ensure that more than 2,000 of their dispensing locations are in compliance under DSCSA. Our track record stands out because we are proven to offer the lowest total cost, the shortest timeframe for achieving compliance, and the least risk of ensuring drug supply to patients.”
Additional highlights for the first quarter of 2016 include:
- Exceeding more than 220,000 pharmaceutical manufacturers, distributors and dispensers on the TraceLink network—to facilitate instant collaboration and exchange of compliance data between trading partners with just a single connection to the Life Sciences Cloud;
- Delivering commercial availability of its India Compliance software module—that allows pharmaceutical manufacturers to meet a range of serialization, reporting and compliance requirements established by the India Directorate General of Foreign Trade (DGFT);
- Successfully executing a GS1 EPCIS 1.1 data exchange industry pilot—for achieving DSCSA compliance between top-5 pharmaceutical manufacturers and one of the “big three” wholesale distributors in the US;
- Processing more than 3,200 EPCIS events with more than 10,000 serialized units per event—and more than 870 EPCIS events with more than 100,000 serialized units per event;
- Completing product master data and product pack data upload certification tests with the European Medicines Verification Organization (EMVO)—to authenticate the ability for pharmaceutical manufacturers to communicate product master data and product pack data to the EU Hub for compliance under the EU False Medicines Directive (FMD) using TraceLink’s EU Compliance module.
To learn more about meeting global pharmaceutical compliance deadlines and how to build a flexible serialization, track and trace, and reporting platform for the US, the EU, China, Brazil, South Korea, India, Turkey, Argentina and other countries, please visit www.tracelink.com.