TraceLink Achieves 44% Overall Revenue Growth for Q1 2019
NORTH READING, Mass., May 6, 2019 /PRNewswire/ — TraceLink Inc., the world’s largest integrated digital supply network, providing real-time information sharing for better patient outcomes, today announced financial and company results for the first quarter of 2019.
Financial growth highlights for Q1 2019 include:
- A 44 percent increase in annual revenue, including growth in the following regions:
- 74 percent revenue growth in EMEA;
- 102 percent revenue growth in APAC; and,
- 77 percent revenue growth in India.
- A 143 percent increase in new bookings in the U.S. and 169 percent increase in new bookings in India.
- A two-year revenue compound annual growth rate (CAGR) of 66 percent;
- A total of 1,198 customers by the end of Q1, representing a 46 percent annual increase in total customers, located across 46 countries, including:
- 62 percent representing pharmaceutical and contract manufacturers;
- 5 percent representing wholesale distributors, 3PLs and repackagers; and,
- 33 percent representing pharmacies, hospitals, clinics and health systems.
- A total of 530 employees worldwide at the end of Q1.
“We continue to see significant growth in both new and existing customers that are investing deeper into our digital supply network solutions. Last quarter alone, there were over 1 billion serial numbers commissioned with a rapid acceleration of CMO connections, and we expect this momentum to continue as our network and solution portfolio expands,” said Shabbir Dahod, president and CEO, TraceLink. “TraceLink’s network continues to be a differentiator and as we look forward, we are committed to continuing to advance the industry by utilizing our knowledge and expertise to create a dynamic, information sharing ecosystem that will not only transform business processes and deliver value to the pharmaceutical supply chain, but ultimately yield better patient outcomes.”
Additional Q1 2019 growth highlights and milestones include:
- Demonstrating unmatched scalability with a total of 2.3 billion serial numbers commissioned by TraceLink customers – with over 1 billion of those serial numbers being commissioned by customers in Q1 alone.
- Leading the market with the industry’s most serialization-ready customers– with 590 companies on the TraceLink network that are live with serialization.
- Accelerating company and trade partner connectivity with a true “network effect”– with more than 4,600 active connections to CMOs on the TraceLink network.
- Announcing Trace Histories, an interoperable blockchain solution – Built on TraceLink’s network, Trace Histories leverages distributed ledger technology to help companies within the pharmaceutical supply chain securely exchange information in an open, interoperable format to meet 2023 DSCSA requirements. Trace Histories and TraceLink’s digital recalls solution will be two workstreams in TraceLink’s pilot project, accepted by the FDA.
- Unveiling Smart Inventory Tracker, an end-to-end warehouse compliance solution built on TraceLink’s integrated digital supply network platform – enabling companies with warehousing operations to meet EU FMD and DSCSA compliance requirements.
- Announcing Smart Rx Manager, a flexible, affordable pharmacy solution – helping European pharmacies meet the Falsified Medicine Directive (FMD) requirements with a simple mobile application that can be integrated with existing pharmacy systems.
- Bringing the industry together with TraceLink’s Customer Community – with 4,740 members representing more than 1,095 companies, the Community provides a platform for networking, innovation and education that is shaping the future of an integrated digital supply network.
- Announcing FutureLink, the industry’s only thought leadership forum for the end-to-end supply chain – with its Europe event taking place in Barcelona June 11-13, and its U.S. event taking place in Nashville October 2-4, 2019.
Additional Resources:
- See more on the Digital Supply Network
- Search open job positions at TraceLink
- Experience the TraceLink network
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About TraceLink
TraceLink is the world’s largest integrated digital supply network, providing real-time information sharing for better patient outcomes. 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. The TraceLink digital supply network 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.
TraceLink is funded by Georgian Partners, Willett Advisors LLC, Vulcan Capital, Goldman Sachs, FirstMark Capital, Volition Capital and F-Prime Capital.
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