In its Q2 2015 financial results statement ShoreTel posted total revenues of a record $90.9m, an increase of 8% compared to Q2 2014. Non-GAAP net income (which excludes stock-based compensation charges, amortisation of acquisition-related intangibles, other charges and related tax adjustments) for Q2 2015 was $5.4m. This compares with a non-GAAP net income of $3.2m in the same period of the previous year.
GAAP net loss was $6.8m, compared with a GAAP net loss of $0.9m in Q2 of fiscal 2014.
"We've continued our business momentum with investments in growth while also improving our key financial metrics," said Don Joos, president and CEO of ShoreTel.
"The acceleration of our hosted bookings in the December quarter resulted in 33% growth for calendar year 2014, showing the effectiveness of the strategic actions we launched a year ago.
"We've made continued progress in the development of our common platform, which we expect to introduce at our partner conference in April."
Recurring revenues, which now consist of all revenue from hosted and related services plus support revenues from support and services, represented 46% of total revenue in Q2 2015 and reached an annualised value of $166m, an increase of 17% compared to the Q2 2014.
The company adjusted its methodology for calculating its recurring revenue metrics to better reflect the predictability of the business and align with the reporting of its industry peers.
Hosted revenues of $25.8m were up 19% year-over-year and 3.5% sequentially.
Non-GAAP hosted gross margin was 45.4% in Q2 2015, compared with 39.8% the previous year.