Cloud-based energy management company increases bookings, revenue and square footage under management
San Francisco – February 10, 2015 – BuildingIQ, a leading energy management software company that helps leading organizations control energy costs and reduce energy consumption, today announced results from its fiscal fourth quarter and year end, dated December 31, 2014. Bookings, a key future revenue growth indicator, grew by more than 260 percent over last year, driving the backlog to an all-time high rate for the company. Revenue grew by more than 60 percent as the company added over 20 new clients, doubling its square footage under management. Revenue per square foot of contracted backlog, a key financial metric, also improved, rising over 18 percent.
Additional highlights included:
- Increased recurring revenue by 96 percent on a year-on-year basis and by 12 percent over last quarter; ;
- Achieved a 253 percent increase in backlog on a year-on-year basis;
- Delivered more than $680,000 of free cash flow in Q4 2014 to clients based on energy savings;
- Deployed over 2.4M SF into the PEO platform in Q4 2014;
- Contract renewal rates exceeded 95 percent over the year.
During Q4 2014, BuildingIQ also added another key company to its already impressive network of key strategic partners by teaming up with AtSite, a smart-buildings company that has been providing services and technologies more than 20 years in order to help building teams optimize and modernize facilities and real estate. BuildingIQ’s Predictive Energy Optimization™ (PEO) software is now available to AtSite to power energy and operational savings across its client building portfolios.
BuildingIQ was also recognized with prestigious industry awards in Q4 2014. It was honored with the National Energy Efficiency Industry Award, Australia’s highest profile award for energy efficiency, for its work at the Australian Technology Park (ATP) and named Australia’s Best Commercial Energy Efficiency Project for 2014. In addition, the company was named a 2014 Global Cleantech 100 company, a recognition produced by Cleantech Group, a leading global research and advisory firm focused on innovation and energy management. BuildingIQ was chosen for its ability to reduce heating and cooling costs within facilities by as much as 25 percent and create free cash flow for customers.
“BuildingIQ ended 2014 on a high note, having achieved many new milestones, and we look forward to continued traction and success in 2015, particularly in the healthcare and government markets which made up 40 percent of our bookings in 2014,” said Michael Nark, president & CEO of BuildingIQ. “We are able to create significant savings in these types of facilities with our cloud-based solution by offering a quick and easy integration without disrupting day-to-day operations. We’ve exceeded client expectations over and over again to deliver savings that they didn’t even believe to be possible.”
BuildingIQ is a leading provider of advanced energy management software that actively predicts and manages HVAC loads in commercial buildings. As the only supplier of patent-pending Predictive Energy Optimization™ technology, BuildingIQ’s cloud-based solution is powering energy and operational savings in buildings across the globe with reductions in HVAC energy costs by as much as 25 percent. BuildingIQ delivers measureable results and has received backing from tier one industry leaders including Aster Capital (backed by Schneider Electric, Alstom and Solvay), the Venture Capital unit of Siemens Financial Services (SFS VC), Paladin Capital and the Energy Division of the Commonwealth Scientific and Industrial Research Organisation (CSIRO).
Recognized as a leader in its industry, BuildingIQ most recently was named winner of a 2014 National Energy Efficiency Industry Award for Best Commercial Energy Efficiency Project, 2013 Bloomberg New Energy Pioneers Award, Fierce Innovation Awards’ “Best in Show”, a 2013 Cool Vendor in Green IT and Sustainability by Gartner and listed on the 2014 Global Cleantech 100 and AlwaysOn Going Green Global 200.
Vantage PR for BuildingIQ
Sean Welch, +1-407-767-0452 ex 228