The Company Reaffirms Second Quarter and Full Year Fiscal 2019
Guidance
SAN MATEO, Calif.--(BUSINESS WIRE)--
Model N, Inc. (NYSE: MODN), the leading provider of cloud revenue
management solutions for the pharmaceutical, medical device, high-tech
manufacturing and semiconductor industries, today announced that Chris
Lyon has joined as Chief Revenue Officer. Mr. Lyon brings more than 25
years of enterprise sales, sales operations and strategy experience at
leading software companies such as Workday and PeopleSoft.
“We are very excited to have Chris join Model N as our Chief Revenue
Officer. His software sales experience combined with his knowledge of
Life Sciences and strong cultural fit, makes him a great addition to our
team. Chris is an excellent sales leader for the next phase of growth at
Model N who knows how to drive efficient sales performance,” said Jason
Blessing, Model N’s Chief Executive Officer. “He complements the recent
addition of Melonie Warfel as Vice President and General Manager, Life
Sciences, who joined Model N from Veeva Systems. I’m pleased with the
progress we’ve made over the last several quarters and I’m excited about
the contributions Chris and Melonie will make to the success of Model N.”
“I am very pleased to be joining the Model N team at this important time
for the company,” said Chris Lyon. “Life Sciences and High Tech have
reached an inflection point in the adoption of cloud-based revenue
management software across enterprises of all sizes. I’m looking forward
to leveraging my experience at growth companies to drive adoption of
Model N’s industry-leading solutions.”
Chris brings over 25 years of experience in enterprise software. Most
recently he was Chief Revenue Officer at Total Expert, the provider of a
marketing operating system for financial services companies. Prior to
that, he served as Vice President of North America for the healthcare
vertical at Workday. Over his nine years at Workday, he held a variety
of key leadership positions in sales, sales operations and strategy as
Workday grew from a pre-IPO startup to a $40 billion market leader.
Prior to Workday, he worked at PolyServe, acquired by HP in 2007 and at
PeopleSoft, acquired by Oracle in 2004.
“On a personal note, I would like to thank Russ Mellott for his many
contributions to Model N over the last two years,” said Jason Blessing.
“We wish him well in his next endeavor.”
The Company completed its second fiscal quarter on March 31, 2019. Model
N is reaffirming its guidance for the second quarter and full year
fiscal 2019 that was originally provided on February 5, 2019 and expects
to release its second fiscal quarter financial results after the market
close on May 7, 2019 and host a conference call in conjunction with the
release.
About Model N
About Model N: Model N (NYSE: MODN) is the leader in revenue management
solutions. Driving mission-critical business processes such as
configure, price and quote (CPQ), contract and rebate management,
business intelligence, and regulatory compliance, Model N solutions
transform the revenue lifecycle from a series of disjointed operations
into a strategic end-to-end process. With deep industry expertise, Model
N supports the complex business needs of the world’s leading brands in
pharmaceutical, medical device, high-tech manufacturing, and
semiconductor across more than 100 countries, including Johnson &
Johnson, AstraZeneca, Novartis, Microchip Technology and ON
Semiconductor. For more information, visit www.modeln.com.
Model N® is the registered trademark of Model N, Inc. Any other company
names mentioned are the property of their respective owners and are
mentioned for identification purposes only.
Forward-Looking Statements
This press release contains forward-looking statements including, among
other things, statements regarding Model N’s second quarter and full
year fiscal year 2019 guidance. The words “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “intend,” “expect,” and similar
expressions are intended to identify forward-looking statements. These
forward-looking statements are subject to risks, uncertainties, and
assumptions. If the risks materialize or assumptions prove incorrect,
actual results could differ materially from the results implied by these
forward-looking statements. Risks include, but are not limited to: (i)
delays in closing customer contracts; (ii) our ability to improve and
sustain our sales execution; (iii) the timing of new orders and the
associated revenue recognition; (iv) adverse changes in general economic
or market conditions; (v) delays or reductions in information technology
spending and resulting variability in customer orders from quarter to
quarter; (vi) competitive factors, including but not limited to pricing
pressures, industry consolidation, entry of new competitors and new
applications and marketing initiatives by our competitors; (vii) our
ability to manage our growth effectively; and (viii) acceptance of our
applications and services by customers; (ix) success of new products;
(x) the risk that the strategic initiatives that we may pursue will not
result in significant future revenues; (xi) changes in health care
regulation and policy and tax in the United States and worldwide; and
(xii) our ability to retain customers. Further information on risks that
could affect Model N’s results is included in our filings with the
Securities and Exchange Commission (“SEC”), including our most recent
quarterly report on Form 10-Q and our annual report on Form 10-K for the
fiscal year ended September 30, 2018, and any current reports on Form
8-K that we may file from time to time. Should any of these risks or
uncertainties materialize, actual results could differ materially from
expectations. Model N assumes no obligation to, and does not currently
intend to, update any such forward-looking statements after the date of
this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190402006053/en/
Investor Relations Contact:
ICR for Model N
Staci
Mortenson, 650-610-4998
investorrelations@modeln.com
Media Contact:
pr@modeln.com
Source: Model N, Inc.