| BALTIMORE, MD -- August 01, 2006 – Metastorm, a leading provider of Business Process
Management (BPM) software for modeling, automating, integrating, and improving both human
and system-based processes, today announced record financial results for its quarter ending June
30, 2006. Metastorm’s total revenue for the second quarter of 2006 increased 101 percent over
the same quarter last year, and 37% on a pro forma basis (excluding the effect the
CommerceQuest acquisition) – both measurements exceeded the BPM market growth forecasts
issued by industry analysts. This represents the 6th consecutive quarter of growth for Metastorm, a company that prides itself on the strength of its customer references and the robustness of its proven, comprehensive BPM Suite. In addition to delivering record financial results in Q2, the company announced the release of Metastorm BPM™ Version 7 – a major new product release that included the addition of Metastorm Integration Manager to its BPM Suite, effectively completing the integration of the software components it acquired from CommerceQuest in October 2005.
In the second quarter of 2006, Metastorm added twenty-seven new BPM customers spanning
several industries and geographies, including Allan Gray (South Africa), British Broadcasting
Company (UK), General Services Administration (USA), Hallmark (UK), Honeywell (USA), Mayer
Brown (USA), Mutual Fund Dealers Association (Canada), and the U.S. Department of State
(USA). In addition, existing customers substantially expanding their use of Metastorm BPM™
included Deloitte Touche Tomatsu (USA), the Northern Ireland Housing Executive (Ireland), and
the U.S. Department of Justice (USA).
Product and solution innovation was a key focus for Metastorm in Q2, as the company not only
released Version 7 of its BPM Suite, but also announced the release of four new Process Pods™ for leading content and document management solutions, including Documentum, Hummingbird,
Interwoven, and Meridio. These packaged solution frameworks enable customers to align process
and content by combining an existing document management system with the Metastorm BPM
suite. Metastorm’s continued market leadership in Q2 was further validated by significant third-party recognition, including being well-positioned on the Gartner BPM Suite Magic Quadrant 2006 and being named by Computer Business Review as one of the Top10 most influential companies in the BPM and Integration sector.
“We continued to demonstrate the strength of our business by delivering record revenues and a
major new product release in Q2, both while maintaining our profitability,” says Robert Farrell,
president and CEO of Metastorm. “As part of the Metastorm BPM Version 7 release, we fulfilled
our promise to quickly integrate the products we acquired from CommerceQuest by delivering
Metastorm Integration Manager as a seamless part of our BPM Suite within 8 months of the
acquisition – an accomplishment that will reap great rewards for our customer base who can now
design, automate, manage, analyze, and improve both human-centric and system-based process
activities with a single solution from a single vendor. Looking forward, we expect our momentum to continue on a global basis and we remain on target to meet or exceed our growth plans for 2006.” |
