CHICAGO, Jan. 30, 2014 — (PRNewswire) — Textura Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, today announced financial results for the first fiscal quarter ended December 31, 2013.

• Revenue increased 77% year over year to $12.0 million
• Organic revenue growth accelerated to 50% year over year, from 45% in prior quarter
• Construction value added of $17.9 billion, up 145% year over year
• Number of organizations more than doubled to 11,706, up 116% year over year
• AcquiredLATISTAon December 2, 2013, the leading provider of mobile-enabled, cloud-based field management solutions in the industry

"We are pleased to report that the strong growth we saw in fiscal 2013 continued in the first quarter of fiscal 2014, as we delivered accelerating year over year revenue growth of 77% and organic revenue growth of 50%," said Patrick Allin, Chairman and CEO of Textura. "General contractors and owners in our markets are implementing our solutions, and our platform is enabling them to better manage their businesses. Our track record with our customers for delivering value added solutions and high service levels, coupled with investments in our solutions portfolio and our people, resulted in another strong quarter."

"Our acquisition of LATISTA further bolsters our position as a leading technology provider to the construction industry," said Jillian Sheehan, Executive Vice President and CFO of Textura. "With a broadening product suite, we are in the early stage of realizing our vision to enable a transformation of the construction industry with an integrated platform of technology solutions."

Results for the first quarter of fiscal 2014:

• Revenue: Revenue was $12.0 million, an increase of 77% over the prior year, and an acceleration from 72% year over year growth in the quarter ended September 30, 2013. Organic revenue increased by 50% year over year, an acceleration from 45% in the prior quarter.
• Operating Metrics: Active construction projects increased 30% year over year to 6,580, with more than 1,400 projects added during the quarter representing $17.9 billion in construction value, up 145% year over year. Number of organizations increased by 116% year over year to 11,706.
• Deferred Revenue: Deferred revenue at December 31, 2013 was $25.7 million, up 82% from December 31, 2012, and up 17% from $21.9 million at September 30, 2013.
• Net Loss: Adjusted EBITDA loss was $4.0 million and GAAP net loss was $6.7 million, increases from $2.3 million and $6.0 million, respectively, in the first quarter of fiscal 2013. Adjusted EPS loss was $0.19 and GAAP net loss per share was $0.27, decreases from $0.55 and $0.62, respectively, in the first quarter of fiscal 2013, driven by a higher share count.
• Total Cash and Cash Equivalents: As of December 31, 2013, total cash and cash equivalents was $77.1 million. Cash used in operations during the quarter ended December 31, 2013 was $6.2 million, driven by annual bonus payments and a one-time payment for the removal of the credit bank mechanism in our Aon agreements. Other uses of cash during the quarter included $34.9 million for our acquisition of LATISTA and $10.2 million for the repayment of our bank loan.
• LATISTA: The LATISTA acquisition closed on December 2, 2013 and resulted in revenue of $0.2 million in the quarter ended December 31, 2013. The impact of LATISTA included in the consolidated results was Adjusted EBITDA loss and GAAP net loss of $0.3 million and $0.5 million, respectively, and Adjusted EPS loss and GAAP net loss per share of $0.01 and $0.02, respectively.

Outlook

Textura is reaffirming its fiscal 2014 full year revenue guidance and introducing EPS guidance, and providing guidance for the second quarter of fiscal 2014.

For the full year fiscal 2014, Textura expects to report:

• Revenue in the range of $57.5 to $60.5 million
• Year-over-year revenue growth in the range of 62 - 70%
• Adjusted EPS in the range of $(0.55) - $(0.62), excluding stock-based compensation expenses of $7.0 million and amortization of acquired intangible assets of $4.8 million, and assuming approximately 25.0 million weighted-average common shares outstanding
• GAAP net loss per share in the range of $(1.00) - $(1.07)
• Impact of LATISTA on consolidated results:

For the second quarter of fiscal 2014, Textura expects to report:

• Revenue in the range of $13.7 to $14.0 million
• Year-over-year revenue growth in the range of 61 - 65%
• Adjusted EPS in the range of $(0.20) - $(0.22), excluding stock-based compensation expenses of $1.9 million and amortization of acquired intangible assets of $1.3 million, and assuming approximately 24.8 million weighted-average common shares outstanding
• GAAP net loss per share in the range of $(0.33) - $(0.35)
• Impact of LATISTA on consolidated results: