TraceLink achieves 69% overall revenue growth in Q1 2018
Finance | Packaging
TraceLink Inc., a global provider of Track and Trace Network for connecting the life sciences supply chain and providing real-time information sharing for better patient outcomes, announces its financial and company results for the first quarter of 2018
Highlights for Q1 2018 include:
A 69% year-over-year increase in Q1 revenue, including revenue growth in the following regions:
- 386% revenue growth in APAC;
- 270% revenue growth in EMEA; and,
- 159% revenue growth in India.
A 43% year-over-year increase in all bookings for Q1, including a 177% increase in EMEA bookings for the quarter;
A two-year revenue compound annual growth rate (CAGR) of 70%; and,
A 38% annual increase in customers for a total of 821 customers across 35 countries, demonstrating the largest customer base for pharmaceutical track and trace and serialisation, spanning all segments within the global life sciences supply chain, including:
- 54% representing pharmaceutical and contract manufacturers;
- 6% representing wholesale distributors and parallel importers; and
- 40% representing pharmacies, hospitals and health systems.
“I am extremely pleased with our Q1 performance. The investments we’ve made to grow our global business and serve customers in EMEA, APAC and the US are paying off, enabling TraceLink to further advance its market share position as the only digital supply chain network for global serialisation and track and trace,” said Shabbir Dahod, president and CEO, TraceLink.
“As transaction activity on our network grows through the increasing number of TraceLink customers that are serialising products and exchanging data with their ecosystems of trade partners, we are setting the stage for future business transformation with applications that will deliver a new paradigm of real-time digital information sharing across the entire supply chain.”
Additional Q1 2018 growth highlights and milestones include:
- Leading the market with the industry’s most serialisation-ready companies - with over 390 companies live and configured to go live with TraceLink solutions, as of the end of Q1.
- Demonstrating unmatched scalability by commissioning 43 million serial numbers in March, the highest month in Q1 for commissioned serial numbers – and a 106% increase in serial numbers commissioned year-over-year, for a total of 670 million serial numbers commissioned to date.
- Accelerating company and trade partner connectivity as a result of the “network effect” on the Life Sciences Cloud with:
- More than 200 contract manufacturing organizations (CMOs) fully configured on the TraceLink Life Sciences Cloud and ready to exchange serialisation data;
- An additional 450 CMOs currently in active testing on the TraceLink network and projected to be serialisation ready in a matter of months; and,
- More than 4,600 links, or individual connections for serialisation, between a customer and a trade partner, on the Life Sciences Cloud.
- Processing global compliance reports for millions of product units – processing over 62,000 compliance documents for more than 186 million units of product in the EU, China, Brazil, India and South Korea.
- Demonstrating the success of our easy-to-use system – with a total of 45,000 users regularly accessing the Life Sciences Cloud.
- Unveiling EU FMD Express, a purpose-built compliance solution for smaller pharmaceutical companies – providing a cost-effective, simplified solution designed specifically to address the needs of smaller pharmaceutical companies complying with the EU Falsified Medicines Directive (FMD.)
- Publishing the full analysis from the Global Drug Supply, Safety and Traceability Report, the industry’s largest survey on life science companies’ readiness for serialisation deadlines - including data from 660 respondents in the pharmaceutical supply chain, and revealing a major disparity in industry’s readiness to comply with track and trace regulations in the US and EU.
- Setting the stage for FutureLink Munich, by partnering with global visionaries and industry thought leaders to deliver over 20 speaking sessions – through two separate tracks focused on Global Serialisation and Compliance and Digital Drug Supply, Networks and Value.