Q2 Highlights
Financial performance
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- 37% growth in y-o-y gross billings*
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- 19% increase in y-o-y gross profit
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- 27% improvement in y-o-y net loss
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Client growth
- 2 new clients signed
- IBM
- Lexmark
- Both are expected to begin revenue contribution in Q4
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- Solid existing client relationships
- Sybase extends through 2004
- Nortel Networks renews
- HP & Dell, sequential growth
* Gross billings is a measurement of the total volume of amounts billed by the company to customers for its clients’ products and services and provides a meaningful indication of the volume of Rainmaker’s business activity.
Please refer to the reconciliation of net revenue presented in accordance with the Generally Accepted Accounting Principles to gross billings furnished in the company’s Form 8-K filed on April 24, 2003.