Ellie Mae in Pleasanton, Calif., reported higher profits in its second-quarter earnings.
With net income of $7.6 million, its profits rose 62% from the same period in 2014. The mortgage technology provider also recorded revenue growth of 65% year-over-year to $65.9 million.
It increased the total number of its active Encompass users 28% from the second quarter last year to 127,000. The number of active users of the software-as-a-service version of Encompass grew 47% to 106,000, or 84% of all Encompass users.
Revenue from SaaS Encompass leapt 74% from the first quarter of 2014 to $64.8 million, making up 89% of all revenue. Revenue per user grew 28% to $526.
Due to Ellie Mae's strong performance in recent quarters, the company revised its full-year 2015 guidance for revenue to a range of $237.5 million to $238.5 million. Last quarter it provided a range of $203 million to $206 million.
"With a healthy pickup in the purchase market, our customers continued to grow their businesses and close more loans during the quarter," said Ellie Mae CEO Jonathan Corr in a press release. "Our highly differentiated approach to meeting lenders' needs for loan quality, regulatory compliance and operating efficiency has resulted in growth that outpaced the overall mortgage origination market as we continued to capture market share."
