Marketing automation giant, Eloqua, filed for a $100 million initial public offering according to documents submitted to the US Securities and Exchange Commission (SEC).
Eloqua reported that its total revenue increased 38% year-over-year to $31.7 million in the first six months of 2011. The company’s full-year revenue increased from $32.9 million in 2008 to $41 million the next year and $50.8 million in 2010, representing year-over-year increases of 25% and 24%, respectively.
The firm also reported net losses of $12.4 million in 2008, $4.2 million in 2009, $1.5 million in 2010 and $3.5 million for the six months ending June 30 of this year.
The Vienna, Virginia based company had an accumulated deficit of $148.6 million as of June 30. It conceded, in the filing, that it may not achieve consistent profitability.
“We will need to generate and sustain increased revenue levels in future periods in order to become consistently profitable, and, even if we do, we may not be able to maintain or increase our level of profitability,” the company said in the filing.
Last year, subscription and support services generated 93% of Eloqua’s $50.8 million in revenue. The company spent $22.1 million on marketing and sales in 2010.