On Oct. 31, Ellie Mae Inc., Pleasanton, California, reported third-quarter results that included total revenue of $27.5 million compared with $14.7 million in last year's third quarter. The company said its third-quarter net income was $6.8 million compared with $2.7 million one year ago.
Total revenue for the nine months ending Sept. 30 was up 96 percent to $71.9 million. Net income for the nine months ending Sept. 30 was $15.5 million compared with net income of $1.8 million in the prior year's first nine months.
The company reported that the total number of users, both lender and broker, that were actively using the company's Encompass[R] enterprise solution rose by 30 percent year-over-year to 67,201.
Ellie Mae said that revenue per average active Encompass user increased 45 percent on...