Adaptive Planning Achieves Record First Half 2007 Results

Explosive Growth in Bookings and New Clients Is Fueled by Company's Innovative “Test Drive” Programs

 

MOUNTAIN VIEW, CA – July 27, 2007 — Adaptive Planning,™ the leading provider of collaborative business performance management (BPM) software, today announced that it achieved record growth in bookings and new customer wins in the first half of 2007. Fueled by the company's innovative, no-risk “test drive” programs, this rapid growth validates the enormous market demand for affordable, easy-to-use, and quick-to-deploy budgeting, forecasting, and reporting solutions.

For the first half of 2007, key metrics and milestones include:

• Bookings more than doubled vs. the first half of 2006. This bookings growth was driven primarily by the addition of new clients, as well as by expanded usage from existing clients.

• Adaptive Planning signed new contracts with large corporate customers, including International Coal Group (ICG), MacDonald, Dettwiler and Associates Ltd. (MDA), Sutherland Global Services, and Unitrin Direct. These large clients, which employ thousands of employees, operate worldwide, and generate up to $3 billion in annual revenues, illustrate that companies of all sizes can benefit from Adaptive Planning's solutions.

• The company also substantially grew its mid-market customer base, adding 42 new clients across multiple industry segments, including communications, consulting, construction, financial services, healthcare, insurance, manufacturing, mining, non-profit, real estate, and software. With the addition of these clients, Adaptive Planning has surpassed 100 active customers.

• Adaptive Planning expanded its international presence with the addition of new clients, partners, and users. The company now supports commercial users and partners in thirteen countries in Europe as well as Brazil, Canada, India, Indonesia, Singapore, and Venezuela.

• Over 70% of new clients took advantage of Adaptive Planning's innovative “test drive” programs, which include both free trials of the company's full-featured Enterprise Edition, and free licenses for its entry-level Express Edition. Additionally, over 85% of new clients participated in an online program, including the “test drive” options as well as on-demand demos and online video training.

• Adaptive Planning's worldwide partner program exhibited dramatic growth, expanding over five-fold during the first half of the year. Partners are actively engaged in marketing, selling, and implementing Adaptive Planning's solutions globally.

• The company introduced two new versions of its product line. Adaptive Planning 3.5, which was released in February, features graphical dashboards and charts, a Get Started Wizard, and numerous user-requested platform enhancements. Adaptive Planning Express Edition On-Demand, which debuted in April, introduced a free, instantaneously-available hosted version of the company's entry-level budgeting solution.

• Adaptive Planning was recognized by leading industry authorities. The company was named the “2007 Mid-Market Vendor of the Year” by BPM Partners, was listed in Gartner, Inc.'s “Cool Vendors in Analytics, Business Intelligence and Corporate Performance Management, 2007” report, and was named a finalist in the Best Financial Software Solution category of the 2007 CODiE Awards.

• In March, Adaptive Planning announced that it had completed a new round of funding, with a $7.5 million investment led by new investor Cardinal Venture Capital. The new funds will be used for additional product development to expand the breadth of solutions it offers its customers, as well as to extend its marketing, sales, and business development activities.

At the same time, the company's free open source project, Adaptive Planning Express Edition, has continued to generate widespread interest, garnering over 50,000 downloads to-date from over 80 countries on SourceForge.net and SugarForge.net, and consistently placing among the top 50 highest-ranked projects on SourceForge.

“We are delighted with our first half results,” said William A. Soward, Chief Executive Officer, Adaptive Planning. “Over the past several quarters we have been introducing new features, new online programs, and new versions of our products that make it extremely easy for companies to access and begin using our solutions. As these results demonstrate, when companies test drive Adaptive Planning and see how quick, easy, and affordable it is to dramatically improve their budgeting process, they become clients. We encourage anyone who has struggled with spreadsheet-based planning to test drive Adaptive Planning and see what a difference it can make for their business.”

For more information about Adaptive Planning, including the opportunity to test drive the company's budgeting, forecasting, and reporting solutions for free, visit www.adaptiveplanning.com.

About Adaptive Planning
Adaptive Planning is the leading provider of collaborative business performance management (BPM) solutions. Adaptive Planning makes it easy for midsize companies and departments of larger corporations to move beyond spreadsheets and improve decisions by automating their budgeting, forecasting, reporting and analysis. Adaptive Planning provides extraordinary flexibility and value, with on-demand and on-site solutions, open source and commercial licensing terms, and pricing—including a free version of the product—that delivers a total cost of ownership that is a fraction of the cost of traditional BPM and business intelligence software. Adaptive Planning is headquartered in Mountain View, Calif. and can be reached at 650-528-7500 or www.adaptiveplanning.com.