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MULESOFT, INC

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2017 10-K, filed Feb 22, 2018. Its latest SEC filing is a SC 13G/A from Feb 14, 2019.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Sells a software platform that helps organizations connect applications, data, and devices, including systems running on-site and in the cloud.

How Did They Make Money?

Customers mainly pay for time-based software subscriptions and support, billed upfront for the year or annually on multi-year subscriptions; fees for consulting and training are generally paid as the work is delivered.

FY2017 revenue

Who Were Their Customers?

The company sells mainly to large organizations through its direct sales team. System integrators help find prospects and provide implementation services.

Did Revenues Turn Into Profits?

No. It lost $80M in FY2017.

Operating income, FY2017
−27% of revenue
▲ +65% (Loss) vs FY2016 (−$48.4M, −26%)
Net income, FY2017
−27% of revenue
▲ +61% (Loss) vs FY2016 (−$49.6M, −26%)
Free cash flow, FY2017
−1% of revenue
▼ −59% (Loss) vs FY2016 (−$6.9M, −4%)

How Were They Changing?

Since the FY2017 annual report
  • May 2, 2018 Salesforce completed its acquisition of MuleSoft. MuleSoft became a wholly owned Salesforce subsidiary, and its shares ceased trading on the New York Stock Exchange.

Grew. Revenue grew 2.7x in 2 years, from $110.3M in FY2015 to $296.5M in FY2017, about 64% a year.

Who Did They Compete With?

Competes with IBM, Oracle, TIBCO, Apigee, and Dell Boomi

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