Rally Software posts loss for fiscal year

BOULDER – Rally Software Development Corp. recorded a 31 percent increase in revenue for its fiscal year that ended Jan. 31 compared with the previous year, but posted a net loss for the period, according to the company’s year-end financial report released Thursday.

Boulder-based Rally (NYSE: RALY) generated $74.3 million in revenue for fiscal year 2014, up from $56.8 million in 2013. The company incurred a net loss of $20.1 million, up from a loss of $10.8 million for fiscal year 2013.

The 2014 net loss equated to $1.01 per share.

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Rally makes cloud-based software development tools. The company went public in April, raising $84 million in an initial public offering. A follow-on offering in July raised an additional $138 million. In June, the company signed a lease on a to-be-constructed 89,000-square-foot addition to its 65,000-square-foot Boulder headquarters at 3333 Walnut St.

For the fourth quarter ending Jan. 31, Rally had a net loss of $6.3 million, or 26 cents per share, on revenue of $19.6 million. The revenue marked a 27 percent increase compared with the same period a year earlier.

“This quarter marked a finish to a great year, distinguishing a continued trend of Agile acceptance in the mainstream,” Rally’s chairman and chief executive Tim Miller said in a prepared statement.

For fiscal year 2015, the company projects revenue of $91.5 million to $93.5 million and a net loss per share of $1.82 to $1.87.