Our exceptional success throughout the past year can be directly attributed to several timely and key releases of DisclosureNet, our powerful corporate disclosure research solution that has enjoyed tremendous adoption in the marketplace
Toronto, ON (Vocus) July 27, 2010
XPI Inc., a leading provider of online solutions for corporate disclosure research, today announced it has ended a record-breaking year, April 30 2010. The extremely positive financial results highlight the company’s consistent stellar performance over the past 12 months and underscore the company’s achievement of several key milestones throughout the year.
During the past twelve months, XPI was able to significantly increase its client base and added 150 new clients to total over 410 while maintaining a strong client retention rate averaging 98% throughout the year. The company also exceeded expectations in several other areas by realizing a compound, annual growth rate (CAGR) of 53% over the past eight years (since inception in 2002) and a phenomenal year-over-year growth rate of 63%.
“Our exceptional success throughout the past year can be directly attributed to several timely and key releases of DisclosureNet, our powerful corporate disclosure research solution that has enjoyed tremendous adoption in the marketplace” said Stephane Jasmin, President and CEO of XPI. “By releasing DisclosureNet IFRS and DisclosureNet Team, editions that assist companies with their IFRS transitions and provide industry-changing, collaborative capabilities respectively, we have enabled our users to go beyond traditional disclosure research.”
DisclosureNet enables professional users to find, organize and share information contained in public company disclosure documents filed on EDGAR in the US, SEDAR and SEDI in Canada and financial statements filed in the UK. Through its unique approach to utilizing the critical content of public company information, DisclosureNet is redefining disclosure research—a concept that is being fully embraced in the marketplace, as evidenced by the success of fiscal year 2010.
“We have enjoyed extraordinary growth and success at XPI over the past year,” said Peter Kaju, CFO of XPI. “With a stronger focus on sales and marketing, combined with releasing several key modules with unparalleled capabilities into the marketplace, we propelled our efforts and achieved outstanding results.”
Throughout the year, XPI was able to maintain a strong focus on supporting its growing sales, marketing, operational and customer initiatives as a result of successfully securing two separate rounds of financing from The Business, Engineering, Science & Technology Discoveries Fund and BEST Total Return Fund (together as "BEST Funds"). The first investment occurred in June 2009 followed by a second round of $3.0 million in April 2010.
XPI is an innovative, technology company committed to building a global disclosure network that facilitates the process for timely, secure, and compliant creation, dissemination and analysis of public company information. DisclosureNet enables users to search, mine and monitor—through real time alerts and RSS feeds—specific corporate disclosure documents filed in the United States via EDGAR, in Canada via SEDAR and SEDI, and financial statements filed in the UK. With widespread adoption reaching over 410 clients and 15,000 professional users, DisclosureNet has become the online research tool of choice for accounting, corporate, investor, legal and regulatory market users. Visit http://www.disclosurenet.com for more information.
Lucy Ventresca, Marketing Director,
http://www.disclosurenet.com P: 416-916-8798 x163