For the second consecutive year, Ultimate Software is ranked in the top 10 on Forbes magazine’s list of the World’s Most Innovative Growth Companies, this year earning the #7 spot. We are honored to be included on this list, because we recognize the power of innovation and appreciate the validation of this important company value.
We have been in the business of serving people for 25 years. Throughout this time, our customers have progressed, new needs have emerged, and industry trends have changed— and Ultimate Software has evolved. We continue to focus on bringing the best ideas to fruition and providing the industry’s leading human capital management (HCM) solutions to our customers and their people.
This evolution has supported our company’s growth strategy. In the second quarter of 2015 ended June 30, Ultimate Software’s recurring revenues grew by 21.8% to $124.4 million and total revenues grew by 20.7% to $147.2 million, when compared with the second quarter of 2014. These Q2 2015 results not only exceeded expectations, but they also constitute our best overall sales quarter to date.
Our ranking on the esteemed Innovative Growth Companies list also improved this year, which is symbolic of Ultimate Software’s commitment to working every day to improve the working lives of people everywhere. We do this by devoting our people and our resources—intellectual and financial—to the development and delivery of UltiPro®, our award-winning HCM software.
Just as our year-over-year revenues have experienced consistent growth, we have consistently invested 20% of revenue into making our technology and services even better than before. We remain dedicated to keeping our customers happy and to helping grow their business through innovation.
At Ultimate Software, we have many forums in which our employees and our customers can present ideas—whether spur of the moment or well thought out—such as our UltiPro Ideas portal for customers and our annual 48 Hours event for employees in Development. Ideas are welcome and encouraged here. None are too small nor beyond reach.
Our CEO and President, Scott Scherr, founded Ultimate Software on the idea of always putting people first. That simple idea became an entire culture, and it remains the cornerstone principle of our company.
While success is the result of various elements joining together, innovation remains a key contributor.
Through innovation, people thrive.
Note: Forbes generates the listing by calculating companies’ “Innovation Premium,” the difference between market capitalization and a net present value of cash flows from current businesses. The method also relies on investors’ ability to identify companies expected to remain innovative throughout the future.