Interactive Intelligence Loss Doubles

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The company was founded in 1994 and went public five years later. The company was founded in 1994 and went public five years later.

Indianapolis-based Interactive Intelligence Group Inc. (Nasdaq: ININ) is reporting a second quarter net loss of $10.2 million, compared to a loss of $5.1 million during the same quarter the previous year. Despite the loss, Chief Executive Officer Don Brown says the company's revenue increased, driven by cloud subscriptions.

The cloud services company reported $108.8 million in the second quarter of 2016, up 13 percent from $96.3 million in the second quarter of 2015. Brown says revenue growth is being sparked by its PureCloud platform. In a release, he said, "We had 24 PureCloud customers at the end of last year. Six months later we had well over 300. This rapid growth reflects the considerable interest and demand we're seeing from both small and large businesses across all our major geographic markets."

The company says recurring revenues, like cloud subscriptions and support fees, increased 23 percent compared to the second quarter of last year, license revenues were slightly higher and hardware revenues were a bit lower.

Interactive Intelligence has more than 2,000 employees around the world.

You can see more of the company's second quarter numbers by clicking here.

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