Firstwave Technologies, a provider of internet-based relationship management applications, reported second quarter license revenues of $967,000, an increase of 165% over 1999 and 31% over first quarter 2000. Net loss was $861,000, or $0.14 per share, as the company continues to invest in the product and in its sales and marketing plans.
Total revenues of $2,710,000 are up slightly, the company’s second quarter of total revenue growth since the introduction of eRM, the web-based relationship management application. Firstwave’s financial resources remain strong with a working capital balance of $3.6 million at June 30, 2000.
“We enjoyed quarter-over-quarter increase in license revenues, a promising measure of our strength and future direction,” said Richard Brock, CEO. “We are also benefiting from a new focus in Europe, as our UK office responded with license revenues in the second quarter that were more than the previous two quarters combined. Our Singapore-based partner, Firstwave Asia Pacific, is gaining much attention in the Singapore, Malaysian, and Philippine markets and has generated revenue in its first quarter of operation.”
Firstwave is based in Atlanta, Georgia with an office in London, England. The company, with 16 years of experience in relationship management, is working with over 20,000 installed users at 200 companies in 20 countries.