Ecommerce services provider ChannelAdvisor (NYSE: ECOM), which went public a year ago, reports record revenues for its most recent quarter – a 30 percent jump – and CEO Scot Wingo has aggressive plans to drive even more growth.
That means more jobs.
Wingo, who also is a co-founder and chairman of the Morrisville-based compay, and other executives were peppered with questions about growth, new products and opportunities in an earnings conference call with analysts Monday. The company is rapidly expanding its global footprint, especially in China where Wingo and his team see significant opportunities for growth.
ChannelAdvisor’s execs also pointed out that while most of the company’s business takes place in the U.S., 70 percent of global ecommerce takes place beyond U.S. borders.
Analysts almost always focus on headcount, given the high costs associated with new hires and how their salaries and expenses – such as commissions – hit margins.
In February after the end-of-year 2013 results, Wingo promised more aggressive hiring. So Wingo was prepared when hit by a question about plans for hiring.
“Yes, a great question and I do know that this comes up. I feel pretty good with where we are,” Wingo replied, according to a transcript of the call provided by financial news website SeekingAlpha.
“There is always more that we can do. You’re going to in all likelihood see us invest,” he added.
“We have been investing substantially in other geographic, but even here in the U.S. I think you’ll see us invest in some of our other office locations in the not distant future.
“North Carolina is not the only location we have here in the U.S. and we obviously want to have access to the broadest pool of talent that we can get. So I’ve been pleased with where we stand.
“Of course we have an aggressive plan, which means we you can’t rest.
“We have to continue going strong on the hiring front for the rest of the year. But I’d say where we stand right now, I’m pleased and I’m comfortable and it’s an area that I feel like for the rest of the year we should perform in line with plan.”
Earlier, Chief Financial Officer John Baule pointed out that ChannelAdvisor’s hiring was producing results.
I”n addition to bookings, which [Chief Operating officer David Spitz] discussed, we measure the effectiveness of our sales and marketing investment by tracking net customer addition,” Baule said. “During the first quarter, we nearly doubled our net customer additions compared with the first quarter of 2013, adding 136 net new customers. Based upon both of these indicators, we intend to continue to pursue our aggressive market penetrations strategy, by expanding our global sales force.”
The full earnings report can be read online.
