TraceLink Achieves 55% Overall Revenue Growth for Q3 2018

NORTH READING, Massachusetts, Nov. 19, 2018 /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 third quarter of 2018.

Financial growth highlights for Q3 2018 include:

• A 55 percent year-over-year increase in Q3 revenue, including growth in the following regions:
• • 165 percent revenue growth in EMEA;
  • 145 percent revenue growth in APAC; and,
  • 63 percent revenue growth in India.
• A 53 percent year-over-year increase in all bookings for Q3, including a 120 percent increase in EMEA bookings for the quarter;
• A two-year revenue compound annual growth rate (CAGR) of 71 percent;
• A total of 1,016 customers by the end of Q3, representing a 46 percent year-over-year increase in total customers, located across 44 countries, including:
• • 63 percent representing pharmaceutical and contract manufacturers;
  • 5 percent representing wholesale distributors, 3PLs and repackagers; and
  • 32 percent representing pharmacies, hospitals, clinics and health systems.
• A total of 486 employees worldwide as of the end of Q3, with the Company forecasting a total of 539 employees by the end of 2018.

"With over 1,000 customers and more than 272,000 trading partners, TraceLink has officially created the world's largest integrated digital supply network. The effort has been the result of tremendous collaboration across the industry on compliance, standards and business processes. Today, billions of serial numbers are flowing through the TraceLink network, enabling companies to exchange serialized information - not only to meet compliance, but also to enhance their operations and improve patient care," said Shabbir Dahod, president and CEO, TraceLink. "As we continue to execute on our vision to build the digital supply chain, we are utilizing our recent capital of $93 million to make strategic investments into creating a patient-centric, digital information-sharing ecosystem that crosses across the globe to maximize the efficacy, quality, safety, security and availability of life sciences products that improve human life."