Cloud-based business software company SciQuest (NASDAQ:SQI) saw its second quarter revenue reach $21.2 million, up 34 percent from a year ago, as two acquisitions made last year made contributions to the company’s sales.
Cary-based SciQuest reported a net loss of $500,000 in the second quarter compared to net income of $400,000 loss in the second quarter of 2012. SciQuest said the primary drivers of the decline were the expected impacts of the acquisitions of Spend Radar and Upside Software, which is now called SciQuest Canada.
SciQuest’s software is used by businesses to automate and manage spending. In a statement, CEO Stephen Wiehe said that the company made progress in the quarter integrating its acquisitions and completed the vast majority of the work for a rollout of a July software release. New customers included Microsoft, the Chicago Cubs and the state of Wisconsin.
