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Model N has been named one of the 2024-2025 Best Companies to Work For by U.S. News & World Report, which recognizes top companies based on employee needs. The evaluation criteria included employee sentiment on pay, benefits, career opportunities, professional development, work-life balance, and stability. Model N achieved a perfect score in work-life balance and stability, reflecting a positive and inclusive workplace culture. Chief People Officer Laura Selig emphasized that the recognition is a testament to the team's dedication and the trust established with employees. The 2024-2025 list, which considered 549 companies, was compiled using data from multiple sources, including Glassdoor reviews and insights from partners like Revelio Labs, Good Jobs First, and QUODD. For more information on Model N's culture, visit modeln.com/company/culture.
Model N (NYSE: MODN) announced the launch of two integrated data solutions, Syndicated Customer Master and Formulary Compliance, to support life sciences manufacturers in revenue optimization and compliance. Introduced on June 11, 2024, these solutions were developed in close collaboration with industry leaders to address data accuracy, contract adherence, and patient access.
Syndicated Customer Master aims to enhance master data quality, streamline rebate and chargeback accuracy, and improve customer satisfaction by integrating third-party data. Formulary Compliance helps manufacturers navigate complex drug plans, ensuring patient access, optimizing revenue, and strengthening relationships with payers.
Both solutions will be showcased at Model N's Rainmaker conference, held from June 10-12 in Austin, Texas.
Model N (NYSE: MODN) has been recognized as one of the 2024 Best Workplaces in the Bay Area by Great Place to Work® and Fortune Media. This marks the second consecutive year the revenue optimization leader has earned this honor. The selection was based on more than 80,000 confidential employee survey responses, which assessed various aspects of their workplace experience. Chief People Officer Laura Selig highlighted the company's commitment to giving employees a voice and elevating their workplace experience. Model N was also named a 2023 Best Workplace for Millennials and holds Great Place to Work Certification™ in the U.S. and India through October 2024.
Model N introduces a new rebate enhancement to help pharma manufacturers comply with the Inflation Reduction Act. The enhancement ensures compliance with impending IRA regulations and prevents revenue loss. Model N's latest product innovation addresses the market's need for calculating and processing Medicare Part D inflation rebates, important for pharma executives preparing for revenue impacts from the IRA.
Model N, Inc. (NYSE: MODN) announced its financial results for the second quarter of fiscal year 2024, showing positive revenue growth. Total revenues reached $65.1 million, a 4% increase from the same quarter last year. Subscription revenues were $49.2 million, up by 9%. The company reported a gross profit of $37.2 million, a 6% increase, with a gross margin of 57%. Non-GAAP gross profit was $39.8 million, up by 5%. The company reported a GAAP loss from operations of $2.6 million and a net loss of $1.4 million. Non-GAAP net income was $9.4 million, a 38% increase. Adjusted EBITDA was $10.9 million, up by 18%. SaaS ARR grew by 11% year-over-year, reaching $139.1 million. Total RPO balance was $367.9 million, up by 9% year-over-year. The company's acquisition by Vista Equity Partners was announced, leading to the suspension of financial guidance for the third quarter and full fiscal year 2024.
Model N, Inc. (NYSE: MODN) to announce Q2 fiscal year 2024 financial results on May 6, 2024, without a conference call due to pending acquisition by Vista Equity Partners. Model N specializes in revenue optimization and compliance for industries like pharmaceutical, medtech, and high-tech. The company offers an integrated platform for pricing, incentive, and contract automation, trusted by industry giants globally.
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