Apigee Achieves 36% year-over-year Growth in Total Revenue and Delivers Record Revenue of $23.5 Million in its Third Quarter

  • Q3 Product Revenue of $18.6 million, a 39% year-over-year increase
  • Q3 Gross Profit of $16.4 million, a 46% year-over-year increase
  • Q3 Deferred Revenue of $50.9 million, a 33% year-over-year increase
  • Q3 Cash Flow from Operations of ($3.5) million
  • Apigee reaffirms guidance for positive operating cash flow by Q2 Fiscal 2017

 

San Jose, Calif. – May 25, 2016 – Apigee® (NASDAQ: APIC), developer of a leading cloud native API platform for digital business, today announced financial results for the third fiscal quarter ended April 30, 2016.

“We are pleased to deliver another solid quarter of revenue and billings growth, driving us closer to our goal of achieving positive operating cash flow by the quarter ending January 2017,” said Chet Kapoor, Apigee CEO. “We see our business benefitting from two key trends in enterprise IT – the ongoing adoption of digital business and the shift to cloud.  Across both of these trends, APIs are a key enabler for quickly delivering customer value.  With our growing customer base and expanding partner engagement, we believe Apigee is positioned to drive these trends.”

Third Quarter Fiscal 2016 Highlights:

For Q3 16, Apigee reported total revenue of $23.5 million, at the high end of its guidance range of $22.5 million to $23.5 million.  Q3 16 total revenue was up 36% compared to $17.3 million in Q3 15.  Apigee reported Q3 16 product revenue (defined as license revenue plus subscription and support revenue) of $18.6 million, up 39% from $13.4 million in Q3 15.  Q3 16 gross billings were $29.0 million, above the midpoint of its guidance range of $27.5 million to $29.5 million.  Q3 16 gross billings were up 29% from $22.5 million a year ago.  Q3 16 product gross billings were $24.8 million, up 34% from $18.6 million a year ago.

Apigee reported Q3 16 GAAP gross margin of 69.8%, up from 65.1% in Q3 15, and non-GAAP gross margin of 71.5%, up from 66.7% in Q3 15.   Apigee reported a Q3 16 GAAP operating loss of $9.9 million, compared to $10.8 million in Q3 15.  Q3 16 non-GAAP operating loss was $7.5 million, compared to $9.7 million in Q3 15.  Both GAAP and non-GAAP operating loss improved as a result of revenue growth rate that was significantly higher than operating expense growth rate, as well as improved gross margin.  Q3 16 GAAP net loss per share was $0.33. Q3 16 non-GAAP net loss per share was $0.25, at the high end of its guidance range of a loss of $0.25 to $0.29.  Q3 16 operating cash flow was ($3.5) million, compared to ($8.1) million in Q2 16.  Total deferred revenue was $50.9 million at the end of Q3 16, up 33% from $38.4 million at the end of Q3 15.  The balance of cash and cash equivalents at the end of Q3 16 was $70.2 million.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Recent Business Updates:

  • Apigee now has over 300 customers, up 114 compared to the end of Q3 15. In Q3 16, we did expansion deals with 42 customers.
  • Our Q3 16 simple dollar-based renewal rate exceeded 90% for the fourth consecutive quarter.
  • New, renewal and expansion customers in the quarter included Advance Digital, Kaiser Permanente, KAO Brands, National Geographic, Nationwide Building Society, Papa Johns, Paymark, Silicon Valley Bank, Telstra, TomTom and Tradier.
  • Apigee announced the availability of the Apigee Edge integration with Pivotal Cloud Foundry. Pivotal users can now select Apigee Edge software from the Pivotal Network marketplace to get Apigee’s comprehensive API management capabilities integrated into the Web applications they build with Pivotal’s Cloud Native Platform.
  • Apigee and Amazon Web Services (AWS) announced that dozens of new customers signed on to use Apigee Edge on AWS in the first three months of calendar 2016, including AccuWeather, Allstate Corporation, OpenGov Inc., and Sage Payment Solutions, as well as other leading companies in the financial services, insurance, retail, media and technology industries.
  • Apigee announced a new reference architecture designed to make it easier for developers to use Apigee Edge on AWS.  In addition, Apigee is working with AWS Lambda to develop an open-source plug-in enabling access to AWS services on Apigee Edge.
  • Apigee released Apigee Edge for Microsoft Azure, and has also placed Apigee Edge in the Azure marketplace.  Apigee and Microsoft recently conducted a joint webinar, covering migration of Apigee Edge deployments to Azure, new services available for API developers, and a demonstration of our integrated products.
  • Apigee delivered general availability of Apigee Sense, an API security solution that provides data-driven API security including bot detection, automated threat protection, security governance, advanced risk analytics and automated risk mitigation capabilities.
  • Apigee announced a new software solution built on Apigee Edge that is designed to help banks within the European Union (EU) more quickly and easily embrace open banking and comply with the revised Directive on Payment Services (PSD2).  Apigee is teaming with Accenture, as part of the ongoing Apigee and Accenture global alliance, to work on developing customized client solutions for open banking spurred by PSD2.
  • Apigee hosted an Open Banking and PSD2 summit in London dedicated to providing financial institutions with information and guidance on how to implement open banking and comply with PSD2.  http://apigee.com/about/search/gss/open%20banking%20summit
  • Apigee hosted a FinTech API Summit, with speakers from Forrester, First Data, Tradier, and Vantiv, as well as Apigee.  The summit provided financial services executives with information and guidance on how to better leverage digital technologies to foster digital engagements with their customers, partners and employees.  http://apigee.com/about/search/gss/fintech%20summit
  • Additional product updates included Apigee Edge Gateway 2.0 and release of Apigee’s Health APIx in the Salesforce Health Cloud.
  • New partners in the quarter included Abacus Consulting Technology, Astrakhan, BCX Keyna, Centric Digital, Compuware, HCL America Solutions, Innovative Software Technologies, ITbook, LiquidHub, Middleware New Zealand, Pitney Bowes, Pyramid Consulting, Shift Technologies, SMS Consulting Group, Trace3, and UST Global.

Guidance:

As of May 25, 2016, Apigee is providing initial guidance for its fourth quarter fiscal 2016 and updating guidance for the fiscal year ending July 31, 2016.

Fourth Quarter Fiscal 2016 Guidance:

  • Total revenue is expected to be in the range of $24.0 million to $25.5 million.
  • Non-GAAP operating loss is expected to be in the range of $8.0 million to $9.0 million.
  • Non-GAAP net loss per share is expected to be in the range of $0.27 to $0.30 based on approximately 30 million GAAP weighted-average shares outstanding.
  • Gross billings are expected to be in the range of $30.0 million to $32.5 million.

Full Year Fiscal 2016 Guidance:

  • Total revenue is expected to be in the range of $90.9 million to $92.4 million.
  • Total license revenue is expected to be in the range of $31.8 million to $33.3 million.
  • Non-GAAP operating loss is expected to be in the range of $33.1 million to $34.1 million.
  • Non-GAAP net loss per share is expected to be in the range of $1.11 to $1.14 based on approximately 29.8 million GAAP weighted-average shares outstanding.
  • Gross billings are expected to be in the range of $107.0 million to $109.5 million.

Conference Call Details:

  • What:  Results of Apigee Corporation (APIC) third quarter fiscal year 2016 ended April 30, 2016.
  • When: Wednesday, May 25, 2016 at 2 pm PDT (5 pm EDT). 
  • Dial in:  To access the call in the United States, please dial (877) 407-4018, and for international callers please dial (201) 689-8471. Callers may provide confirmation number 13636744 to access the call more quickly, and are encouraged to dial into the call 10 to 15 minutes prior to the start to prevent any delay in joining.
  • Webcast:   http://investors.apigee.com (live and replay)
  • Replay:  A replay of the call will be available via telephone for seven days, beginning two hours after the call. To listen to the telephone replay in the United States, please dial (877) 870-5176, and for international callers please dial (858) 384-5517 and enter access code 13636744.

About Apigee

Apigee® (NASDAQ: APIC) provides a cloud native API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 33 percent of the Fortune 100, four of the top five Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California. For more information, go to http://apigee.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding Apigee’s anticipated growth; the momentum and trends in its business, markets and certain vertical markets, and Apigee’s belief that it is positioned to drive and benefit from those trends; its forecasted positive operating cash flow; and its forecasted total revenue, license revenue, gross billings, non-GAAP operating loss and non-GAAP net loss per share for the fiscal fourth quarter and fiscal year 2016. Words such as “expect,” “will,” “believes,” and similar expressions are intended to identify forward-looking statements.  These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks, and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements.  Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks, and changes in circumstances, including without limitation risks and uncertainties related to Apigee’s limited operating history; risks associated with its history of losses and its expectation of incurring losses for the foreseeable future; risks associated with the potential significant fluctuation of its future quarterly results and variances in its quarterly bookings, license revenue and operating cash flows; risks associated with revenue mix; risks associated with the effective management of its growth; risks associated with the role its strategic relationships with third parties plays in its growth; risks associated with market acceptance of its platform and Apigee Edge product; risks associated with Apigee’s experience in developing and introducing new products; risks associated with successfully implementing partnerships and strategic relationships; risks associated with Apigee’s ability to meet its customers’ needs for infrastructure capacity and the quality of its software, support and services; and risks associated with Apigee’s ability to obtain renewals from current customers.

The foregoing list of factors is not exclusive.  Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Annual Report on Form 10-Q filed with the SEC on March 4, 2016.  Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov.  Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Non-GAAP Financial Measures

Apigee provides the following non-GAAP financial measures in this release and in the earnings call referencing this press release: gross billings, product gross billings, non-GAAP license gross margin, non-GAAP subscription and support gross margin, non-GAAP professional services gross margin, non-GAAP gross margin, non-GAAP operating expense, non-GAAP operating loss, non‑GAAP net loss, and non-GAAP net loss per share.  These non-GAAP items are key measures used by our management to understand and evaluate our operating performance and trends.  In particular, because a number of these measures exclude certain non-cash expenses, they can provide useful measures for period-to-period comparisons of our business.

Apigee uses these non-GAAP financial measures internally in analyzing its operating results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating its ongoing operational performance. Apigee believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends.

Non-GAAP financial measures should not be considered in isolation from, or as substitutes for, their most directly comparable financial measure prepared in accordance with GAAP.  A reconciliation of the historical non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.  Investors are encouraged to review the reconciliation of these historical non-GAAP financial measures to their most directly comparable GAAP financial measures.

We calculate non-GAAP gross profit, non-GAAP gross margin, non-GAAP license gross margin, non-GAAP subscription and support gross margin, non-GAAP professional services gross margin, non-GAAP operating expenses, non-GAAP sales and marketing expenses, non-GAAP research and development expenses, non-GAAP general and administrative expenses, non-GAAP operating loss and non-GAAP net loss as the respective GAAP balances, adjusted for: (1) stock-based compensation and (2) the amortization of intangible assets. Non-GAAP net loss per share is calculated as non-GAAP net loss divided by GAAP weighted average shares outstanding.

We define gross billings as our total revenue plus the change in our deferred revenue in a period. We define product gross billings as our total product revenue (where product is defined as license, subscription and support) plus the change in our license, subscription and support deferred revenue in a period. Gross billings and product gross billings in any period consists of sales to new customers plus renewals and additional sales to existing customers. Our management uses gross billings and product gross billings as a performance measurement because we believe that gross billings and product gross billings provide valuable insight into the sales of our solutions and the performance of our business.  On certain transactions, a portion of gross billings will be recognized as revenue over a period of more than 12 months.  We do not consider gross billings as a substitute for revenue recognition or revenue measurement.

With respect to Apigee’s outlook under “Fourth Quarter Fiscal 2016 Guidance” and "Full Year Fiscal 2016 Guidance" above, Apigee has not reconciled its expectations regarding non-GAAP loss from operations to GAAP loss from operations, nor reconciled non-GAAP net loss per share to GAAP net loss per share, because stock-based compensation expenses cannot be reasonably predicted and calculated.  Accordingly, reconciliation is not available without unreasonable effort.

Investor Relations Contact:

Kevin Faulkner

kfaulkner@apigee.com

1-408-816-1658

Media Contact:
press@apigee.com

 

Apigee Corporation Consolidated Balance Sheets (in thousands)

 

April 30,

July 31,

 

2016

2015

 

(Unaudited)

 

Assets

 

 

Current assets

 

 

Cash and cash equivalents...................................................................

$70,215

$89,562

Accounts receivable, net....................................................................

27,516

21,451

Prepaid expenses and other current assets........................................

       4,669

        5,806

Total current assets.............................................................

   102,400

   116,819

Property and equipment, net..............................................................

2,267

3,144

Goodwill.................................................................................................

14,744

14,744

Intangible assets, net........................................................

2,413

3,200

Other assets........................................................................................

            827

            799

Total assets.................................................................................

 $122,651

 $138,706

Liabilities and stockholders’ equity

 

 

Current liabilities

 

 

Accounts payable...........................................................................

$606

$2,015

Accrued expenses and other current liabilities..............................

11,925

9,796

Deferred revenue, current portion.................................................

42,548

35,648

Term debt, current portion............................................................

       1,317

       2,079

Total current liabilities.............................................................

    56,396

   49,538

Non-current liabilities

 

 

Deferred revenue, non-current......................................................

8,361

5,154

Deferred rent, non-current...........................................................

1,177

1,550

Other liabilities, non-current........................................................

639

773

Term debt, non-current.................................................................

           1,212

       1,787

Total non-current liabilities......................................................

       11,389

       9,264

Total liabilities...............................................................................

     67,785

    58,802

Commitments and contingencies

 

 

Stockholders’ equity

 

 

Common stock..............................................................................

30

29

Additional paid-in capital

283,044

276,099

Accumulated deficit

(228,208)

(196,224)

Total stockholders’ equity

      54,866

     79,904

Total liabilities and stockholders’ equity

 $122,651

 $138,706

 

Apigee Corporation Consolidated Statements of Comprehensive Loss (in thousands, except per share amounts)

 

Three Months Ended

April 30,

Nine Months Ended

April 30,

 

2016

2015

2016

2015

 

(Unaudited)

(Unaudited)

Revenue

 

 

 

 

License............................................

 $8,161

$5,697

 $23,764

 $15,219

Subscription and support..........................

 10,452

7,694

 31,331

 21,858

Professional services and other....................................

      4,864

      3,899

  11,816

   12,828

Total revenue.........................................

23,477

17,290

66,911

 49,905

Cost of revenue

 

 

 

 

License.........................................

 128

129

 385

 386

Subscription and support..................................

 3,077

2,808

 9,301

 8,175

Professional services and other................................

      3,879

    3,103

  10,528

   10,147

Total cost of revenue

     7,084

    6,040

      20,214

      18,708

Gross profit.........................................

 16,393

11,250

 46,697

 31,197

Operating expenses

 

 

 

 

Research and development...................................

9,477

7,567

 27,514

 21,952

Sales and marketing...................................

12,702

11,139

 38,012

 36,313

General and administrative.................................

   4,075

      3,299

   12,473

     10,003

Total operating expenses...................................

    26,254

  22,005

    77,999

    68,268

Loss from operations.................................

 (9,861)

(10,755)

  (31,302)

(37,071)

Other income (expense), net.........................................

           19

      (93)

         (402)

        (383)

Loss before provision for income taxes.........................................

(9,842)

(10,848)

(31,704)

 (37,454)

Provision for income taxes.........................................

            73

            140

      280

         343

Net loss and comprehensive loss.........................................

   $(9,915)

  $(10,988)

   $(31,984)

  $(37,797)

Net loss per share:

 

 

 

 

Basic and diluted.........................................

  $(0.33)

   $(2.16)

   $(1.08)

     $(8.66)

Weighted-average shares outstanding used in calculating net loss per share:

 

 

 

 

Basic and diluted.........................................

29,830

5,095

29,620

4,363

 

Apigee Corporation Consolidated Statements of Cash Flows (in thousands)

 

Three Months Ended

Nine Months Ended

April 30,

April 30,

 

2016

2015

2016

2015

 

(Unaudited)

(Unaudited)

Cash flows from operating activities

 

 

 

 

Net loss .........................................

 $(9,915)

 $(10,988)

 $(31,984)

 $(37,797)

Adjustments to reconcile net loss to net cash used in operating activities

 

 

 

 

Depreciation and amortization.............

583

 597

1,790

 1,809

Provision for doubtful accounts ....

9

20

66

 38

  Amortization of debt discount .....

 10

12

25

38

Deferred income taxes ..........

 –

 –

 –

 -

Stock-based compensation expense ..........................

 2,110

 822

5,378

 2,269

Changes in operating assets and liabilities

 

 

 

 

Accounts receivable ..............................

 (1,659)

2,903

 (6,131)

273

Prepaid expenses and
other assets .........................................

(268)

395

1,100

38

Accounts payable .........................................

(609)

 (1,225)

 (1,248)

 (1,429)

Accrued expenses, other liabilities and deferred rent ......................................... 

665

558

1,779

 1,078

Deferred revenue .........................................

       5,558

     4,686

      10,108

    10,189

Net cash used in
operating activities ...................................

    (3,516)

    (2,220)

    (19,117)

   (23,494)

Cash flows from investing activities

 

 

 

 

Purchase of property and
equipment .........................................

        (28)

      (485)

        (136)

       (835)

Net cash used in investing
activities .........................................

        (28)

      (485)

          (136)

     (835)

Cash flows from financing activities

 

 

 

 

Proceeds from issuance of debt, net of issuance costs .........................................

2,648

2,648

4,000

Repayments of debt obligations .......

 (3,108)

(526)

 (4,158)

 (4,858)

Proceeds from initial public offering, net of offering costs......

 

79,341

 

78,264

Payment of deferred costs related to initial public offering …………...

(152)

-

Taxes paid related to net share settlement of equity awards.........................................

 

(387)

 

(387)

Proceeds from exercise of stock options, net of taxes paid .........................................

192

 389

 607

796

Proceeds from issuance of Employee Stock Purchase Plan
shares .........................................

 –

             –

        961

             -

Net cash provided by (used in) financing activities .........................................

 (268)

 78,817

     (94)

       77,815

Net increase (decrease) in cash and cash equivalents .........................................

(3,812)

       76,112

      (19,347)

       53,486

Cash and cash equivalents

 

 

 

 

Beginning of period .........................................

  74,027

29,133

        89,562

       51,759

End of period .........................................

         70,215

         105,245

         70,215

         105,245

 

Apigee Corporation Reconciliation of GAAP to Non-GAAP Financial Measures (in thousands, except per share amounts)

 

Three Months Ended

April 30,

Nine Months Ended

 April 30,

 

2016

2015

2016

2015

Gross billings

 

 

 

 

Total revenue.........................................

$23,477

$17,290

$66,911

$49,905

Total deferred revenue, end of period......

50,909

38,379

50,909

38,379

Less: Total deferred revenue,
beginning of period.........................................

(45,352)

(33,193)

(40,802)

 (28,190)

Total change in deferred revenue

      5,557

      5,186

    10,107

    10,189

Gross billings        

 $29,034

 $22,476

 $77,018

 $60,094

Product gross billings

License.........................................

$8,161

$5,697

$23,764

15,219

Subscription and support.........................................

  10,452

    7,694

31,331

   21,858

Total product revenue.........................................

18,613

13,391

55,095

37,077

Total license, subscription and support deferred revenue, end of
period.........................................

43,177

34,749

43,177

34,749

Less: Total license, subscription and support deferred revenue,
beginning of period.....................................

(36,954)

(29,546)

(36,638)

(24,848)

Total change in license, subscription and support deferred revenue.........................................

6,223

     5,203

        6,539

     9,901

Product gross billings.........................................

$24,836

$18,594

$61,634

$46,978

Non-GAAP gross margin

Gross margin.........................................

69.8%

65.1%

69.8%

62.5%

Add: Stock-based compensation expense.........................................

0.7%

0.3%

0.6%

0.3%

Add: Amortization of intangible assets.........................................

      1.0%

      1.3%

      1.0%

      1.4%

Non-GAAP gross margin        

   71.5%

   66.7%

   71.4%

   64.2%

Non-GAAP license gross profit:

 

 

 

 

License gross profit.........................................

$8,033

$5,568

$23,379

$14,833

License gross margin.........................................

98.4%

97.7%

98.4%

97.5%

Add: Amortization of intangible assets.........................................

        114

        113

342

       340

Non-GAAP license gross profit        

  $8,147

 $5,681

$23,721

 $15,173

Non-GAAP license gross margin        

  99.8%

  99.7%

   99.8%

   99.7%

Non-GAAP subscription and support gross profit:

 

 

 

 

Subscription and support gross profit.........................................

$7,375

$4,886

$22,030

$13,683

Subscription and support gross margin.........................................

70.6%

63.5%

70.3%

62.6%

Add: Stock-based compensation expense.........................................

43

8

114

21

Add: Amortization of intangible assets.........................................

         113

      114

         339

        341

Non-GAAP subscription and support gross profit.........................................

   $7,531

  $5,008

$22,483

  $14,045

Non-GAAP subscription and support gross margin.........................................

   72.1%

   65.1%

   71.8%

    64.3%

Non-GAAP professional services and other gross profit:

 

 

 

 

Professional services and other gross profit.........................................

$985

$796

$1,288

$2,681

Professional services and other gross margin.........................................

20.3%

20.4%

10.9%

20.9%

Add: Stock-based compensation expense.........................................

         132

          54

         328

           145

Non-GAAP professional services and other gross profit        

  $1,117

     $850

      $1,616

  $2,826

Non-GAAP professional services and other margin        

23.0%

21.8%

13.7%

22.0%

Non-GAAP research and development expense:

 

 

 

 

GAAP research and development expense.........................................

$9,477

$7,567

 $27,514

 $21,952

Less: Stock-based compensation expense.........................................

(897)

(306)

(2,135)

(759)

Less: Amortization of intangible assets.........................................

      (18)

     (44)

       (106)

        (132)

Non-GAAP research and development expense        

 $8,562

 $7,217

$25,273

$21,061

Non-GAAP sales and marketing expense:

 

 

 

 

GAAP sales and marketing expense.........................................

$12,702

$11,139

 $38,013

 $36,313

Less: Stock-based compensation expense.........................................

(426)

(173)

(1,225)

(492)

Less: Amortization of intangible assets.........................................

                 –

                 –

                 –

           (58)

Non-GAAP sales and marketing expense        

$12,276

$10,966

$36,788

$35,763

Non-GAAP general and administrative expense:

 

 

 

 

GAAP general and administrative expense.........................................

 $4,075

$3,299

 $12,473

 $10,003

Less : Stock-based compensation expense.........................................

      (612)

       (281)

       (1,576)

       (852)

Non-GAAP general and administrative expense        

    $3,463

    $3,018

     $10,897

     $9,151

Non-GAAP operating loss:

 

 

 

 

Operating loss.........................................

$(9,861)

$(10,755)

$(31,302)

$(37,071)

Add: Stock-based compensation expense.........................................

2,110

822

5,378

2,269

Add: Amortization of intangible assets.........................................

          245

          271

            787

            871

Non-GAAP operating loss        

$(7,506)

$(9,662)

$(25,137)

$(33,931)

Non-GAAP net loss:

 

 

 

 

Net loss.........................................

$(9,915)

$(10,988)

$(31,984)

$(37,797)

Add: Stock-based compensation expense.........................................

2,110

822

5,378

2,269

Add: Amortization of intangible assets.........................................

         245

         271

787

            871

Non-GAAP net loss        

$(7,560)

$(9,895)

$(25,819)

$(34,657)

Non-GAAP net loss per share:

 

 

 

 

GAAP net loss per share.........................................

 $(0.33)

$(2.16)

$(1.08)

$(8.66)

Non-GAAP adjustments to net loss per share.........................................

0.08

0.21

0.21

0.72

Non-GAAP adjustments to weighted average shares used in calculating net loss per share.........................................

1.54

6.50

Non-GAAP net loss per share        

$(0.25)

$(0.41)

 $(0.87)

  $(1.44)

GAAP Weighted-average shares outstanding used in calculating net loss per share,.........................................

29,830

5,095

29,620

4,363

 

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    Apigee and Pivotal Team Up to Deliver Comprehensive API Management on Pivotal Cloud Foundry

     

    Apigee Now Available on Pivotal’s Cloud Native Platform Through Pivotal Network 

     

    SAN JOSE and SAN FRANCISCO, Calif. — Apigee® (NASDAQ: APIC), developer of a leading API platform, and Pivotal®, the company accelerating digital transformation for enterprises, today announced the availability of Apigee’s API management software for Pivotal's Cloud Foundry®. Pivotal users can now select Apigee Edge software from the Pivotal Network marketplace to get Apigee’s comprehensive API management capabilities easily integrated into their Web applications built with Pivotal Cloud Foundry.

    “APIs and Cloud Native platforms such as Pivotal Cloud Foundry are key for building applications in today’s modern enterprises,” said Ed Anuff, senior vice president at Apigee. “Pivotal Cloud Foundry provides a consistent experience for the developer and operator, regardless of the underlying cloud infrastructure used. We share the Cloud Foundry goal of simplifying the complexity of a multi-cloud world, and we are collaborating with leading Cloud Native platform providers like Pivotal to make it easier for enterprises using any and every cloud to take advantage of comprehensive API management.”

    The Apigee-Pivotal Cloud Foundry integration provides a feature-rich API management solution on an industry-leading Cloud Native platform with the reliability and flexibility to deploy in various on-premises, cloud-based, and hybrid cloud topologies. This technology integration takes advantage of Pivotal’s "Route Services Feature.” Apigee Edge can automatically create API proxies in Pivotal Cloud Foundry, enabling policies to be seamlessly applied, and APIs can also be automatically published to a developer portal. All API requests in software developed on Pivotal Cloud Foundry are routed to Apigee for security, analytics and traffic management.

    "At Pivotal we are helping customers to re-architect their businesses for the cloud,” said James Watters, senior vice president of Products at Pivotal. “Cloud Native architecture implies applications built for horizontal scale, always-on resiliency, and API first. The combination of Pivotal Cloud Foundry and Apigee Edge can allow our customers to operate at scale with lower operational cost and higher service availability."

    “Apigee API management and Pivotal Cloud Foundry are a powerful combination for building modern connected applications,” said Vish Nandlall, chief technology officer, Telstra. “Digital is disrupting many industries, making it increasingly important for businesses to rapidly transform. Apigee and Pivotal Cloud Foundry are a part of our ongoing IT innovation and digital journey.”

    “At Swisscom, we are committed to building a modern, digital business that includes APIs and cloud-native applications,” said Martin Graf, vice president, API Product Management & Development, Swisscom. “This integration of Apigee with Pivotal Cloud Foundry will make it much easier to expose and manage services that are developed in Cloud Foundry, without the need for additional configuration. We believe it’s an important collaboration for the two companies.”

     

    Apigee at Upcoming Cloud Foundry Summit – Booth #405

     

    Apigee will be demonstrating and discussing Apigee integration with Pivotal Cloud Foundry at the Cloud Foundry Summit, May 23-25, in Santa Clara, California.  Apigee’s Ed Anuff will lead a Lightning Talk entitled, “Why APIs Matter in the Multi-Cloud Strategy” on Monday, May 23, as well as the session, “Using CF Route Services to Publish, Secure, and Monitor APIs,” on Wednesday, May 25.

     

    About Pivotal

    Pivotal’s Cloud Native platform drives software innovation for many of the world’s most admired brands. With millions of developers in communities around the world, Pivotal technology touches billions of users every day. After shaping the software development culture of Silicon Valley's most valuable companies for over a decade, today Pivotal leads a global technology movement transforming how the world builds software.

     

    About Apigee

    Apigee® (NASDAQ: APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 33 percent of the Fortune 100, four of the top five Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California. For more information, go to http://apigee.com.

     

    Safe Harbor Statement

    This press release contains forward-looking statements, including statements regarding market adoption of digital technologies; ease of use, and potential benefits, of using Apigee’s and Pivotal’s products; and continued customer adoption and use of Apigee’s products. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to market adoption of digital technologies, the ability of Apigee’s software to meet its customers’ needs, the quality of Apigee’s and Pivotal’s software, support and services and related infrastructure capacity and any incorrect implementation or use of Apigee or Pivotal software.

    The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on March 4, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

     

    Connect with Apigee

    Apigee blog: http://apigee.com/about/blog/

    Apigee community: https://community.apigee.com/

    Twitter: https://twitter.com/Apigee

    LinkedIn: https://www.linkedin.com/company/apigee

    ###

     

    Apigee is a registered trademark in the U.S. Pivotal is a registered trademark or trademark of Pivotal Software, Inc. in the United States and other countries. Other product or company names mentioned may be trademarks or trade names of their respective companies.

     

    Apigee Media Contact:

    press@apigee.com

     

    Rita Manachi 
    Pivotal Analyst Relations 
    rmanachi@pivotal.io

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      Apigee Announces New Open Banking Solution for PSD2

       

      API Management Leader Teaming with Accenture to Help EU Banks Accelerate Path to Open Banking Spurred by the Recent Adoption of PSD2 by the European Parliament

       

      LONDON — OPEN BANKING & PSD2 SUMMIT —  Apigee® (NASDAQ: APIC), developer of a leading API platform, today announced Apigee Open Banking APIx, a new software solution designed to help banks within the European Union (EU) more quickly and easily embrace open banking requirements generally set out in the revised Payment Services Directive (PSD2). Built on the Apigee Edge API platform, Apigee Open Banking APIx features pre-built application programming interfaces (APIs) for banking, an open banking developer portal, and additional tools to help empower financial institutions to securely share data and build an ecosystem of partners and customers.

      In anticipation of the final adoption of PSD2 by EU Cabinet of Ministers and subsequent enforcement of PSD2 at the member state level, Apigee is teaming with leading global management consulting, technology services and outsourcing company Accenture to work on developing customized client solutions for open banking spurred by PSD2. At Apigee’s Open Banking & PSD2 Summit in London today, Apigee is showcasing its Open Banking APIx solution together with industry use cases developed by Accenture. The collaboration is a part of the ongoing Apigee and Accenture global alliance that was established in 2013.

      “We applaud the fact that the industry is moving quickly toward open banking in the EU and incorporating clarity on the use of emerging payment methods, such as mobile and online,” said Anurag Wadhera, Apigee vice president, solutions. “In the open banking model, value for financial institutions may come less from owning and protecting data, and more from sharing and leveraging key assets. Our open banking accelerator solution, together with Accenture’s banking industry thought leadership, is designed to demystify this process and help banks reap the potential benefits of open banking faster.”

       

      PSD2 Requires APIs

      PSD2, established by the European Commission and currently pending the adoption by the EU Counsel of Ministers, is a major policy development set to impact the payments industry across Europe. The PSD2 seeks to standardize and make interoperable card, Internet, and mobile payments. PSD2 may accelerate open banking because it requires banks to open up data and transactions to certain new payment market entrants. By January 2018, all financial institutions in the 28 EU member states need to be PSD2 compliant.

      "PSD2 presents a business opportunity as well as a compliance obligation," said Simon Hamilton from Nationwide Building Society. "For us, open APIs are a key element of an open banking strategy. We are working with Apigee and Accenture to get our PSD2 programme up and running quickly, with the right underlying technology, in a way that can empower us to take full advantage of the benefits of this new business model.  It is readily apparent that the combined team is extremely committed to our shared vision."

      PSD2 requires that banks provide open access to regulated third parties to customer account information, transaction information, and payment initiation to these new third-party payment providers via APIs (per the PSD2 XS2A rule), while meeting stringent requirements for strong authentication and secure communication. According to analysts at Gartner, “Banks will be required to provide API access to customer accounts…This will require bank investment in application service governance and API management.  For example, most financial institutions will need to build or buy an API management gateway and create new APIs to provide access to customer accounts.”[1]

      “Regulatory changes in Europe such as the PSD2 may accelerate payments innovation to a new phase of development for EU banks,” said Jeremy Light, managing director, Accenture Payment Services. “Banks must be ready to embrace these changes as catalysts for positive innovation. Accenture has significant experience working with our financial services clients to implement both front- and back-end API transformation. We believe it is essential that banks work with an API management platform that facilitates secure access with partners and developers while also providing strong security controls, and we look forward to continuing to working with Apigee to help deliver their solution.”

       

      Apigee Open Banking APIx

       

      Apigee Open Banking APIx leverages Apigee Edge, Apigee’s flagship product and leading API management software. Apigee Open Banking APIx aims to simplify and accelerate the process of delivering open banking by providing APIs that are ready for immediate use, along with the computing infrastructure to support internal and external innovation. Apigee’s Open Banking APIx solution will provide digital teams, including mobile and Web developers, with access to capabilities including:

      • A banking-specific developer portal with API documentation and tools;
      • A collection of pre-configured API proxies for banking APIs such as Payment Transfer, Account Information, Transactions History, Sufficient Funds, and Financial Products APIs;
      • Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP) - specific workflows, as well as API product monetization;
      • Pre-integrated OAuth security framework to support different access models for internal apps or third-party providers, such as PISPs, AISPs and Fintechs;
      • Support for the XS2A rule in PSD2 through end-user authentication using the OpenID Connect standard to allow multiple authentication models, two-factor authentication, and consent capture and management.

       

      By leveraging Apigee Edge, Apigee Open Banking APIx also gives operators the benefits of Apigee API management, including API security, API analytics, API monetization, and developer on-boarding capabilities.

      Apigee Open Banking APIx solution APIs and developer portal are available online here as a sandbox for banks and developers to try.  Banks can also deploy their own version of the Open Banking APIx solution from here.

      For more information about Apigee Open Banking APIx and other industry-specific solutions built on the Apigee API management platform solutions, go to apigee.com/about/solutions/open-banking-apix.

       

      About Apigee

      Apigee® (NASDAQ: APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 33 percent of the Fortune 100, four of the top five Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California. For more information, go to http://apigee.com.

       

      Safe Harbor Statement

      This press release contains forward-looking statements, including statements regarding the expected market impact of regulatory changes, the launching of and planned functionality, adoption and implementation of products developed by Apigee or any other party mentioned in this press release and the potential future customer benefits of using them. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements.  Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to introducing new products successfully; market adoption of digital technologies; the ability of Apigee’s software to meet its customers’ needs; the quality of Apigee’s software, support and services and related infrastructure capacity; and any incorrect implementation or use of Apigee software.

       

      The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on March 4, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov.

       

      The parties mentioned in this news release disclaim any responsibility for, or obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

       

      Connect with Apigee

      Apigee blog: http://apigee.com/about/blog/

      Apigee community: https://community.apigee.com/

      Twitter: https://twitter.com/Apigee

      LinkedIn: https://www.linkedin.com/company/apigee

       

      Apigee is a registered trademark in the U.S. All other trademarks mentioned herein are property of their respective owners.

      # # #

       

      Media Contact:

      apigee@3monkeyszeno.com

       



      [1]Gartner Inc.: “Use PSD2 to Accelerate Open Banking,” published February 19, 2016, by Kristin R. Moyer, Christophe Uzureau, and Alistair Newton.

       

       

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        Dozens of New Apigee Customers Running API-Powered Digital Programs on Amazon Web Services

         

        New Apigee customers running on AWS include AccuWeather,  Allstate Corporation, OpenGov Inc., and Sage Payment Solutions, among other businesses in financial services, insurance, retail, media, technology and other industries

         

        SAN JOSE, Calif. – Apigee® (NASDAQ: APIC), developer of a leading API platform for digital business, today announced that dozens of companies signed on to use the Apigee Edge API management software on Amazon Web Services (AWS) in the first calendar quarter of 2016. New Apigee customers using AWS for Apigee’s Software-as-a-Service (SaaS) cloud product include AccuWeather, Allstate Corporation, OpenGov Inc., and Sage Payment Solutions, among other leading companies in the financial services, insurance, retail, media and technology industries.

        “We’re collaborating with AWS to give Apigee’s SaaS customers the benefit of a proven, industry-leading cloud platform to power their API programs,” said Chet Kapoor, Apigee CEO. “Today’s modern enterprises use APIs to become digital businesses - delivering strategic mobile apps, growing partner and developer ecosystems, and creating new levels of internal efficiencies. We find that AWS gives our cloud customers confidence that they can scale their API programs as they grow, with strong performance.”

        Apigee Edge is a leading API management platform used by hundreds of enterprises worldwide, including 30 percent of the companies in the Fortune 100, to help securely deliver and manage the APIs that power mobile applications and other digital initiatives. The Apigee Cloud is designed to deliver the high throughput and scale required by the most demanding digital businesses; it currently processes over 300 billion API calls per year. Companies using AWS services like Amazon Elastic Compute Cloud (Amazon EC2), Amazon Simple Storage Service (Amazon S3) and AWS Lambda can easily take advantage of Apigee’s cloud product to promote high performance, security and scale for their API programs.

        “Apigee shares AWS’s commitment to innovation and customer satisfaction,” said Terry Wise, vice president of Worldwide Partner Ecosystem, Amazon Web Services, Inc. “AWS provides companies of all sizes, across all industries with on-demand, highly elastic, reliable technology resources on the cloud.  As more and more companies utilize the cloud, they want an easy, painless way to migrate their large and complex IT infrastructures to AWS, and to use the security and management controls that their IT teams already know. Apigee enables companies of all types to do this with the APIs they’re already using, while leveraging the power of AWS.”

        “At OpenGov, we’re focused on delivering a powerful financial transparency and business intelligence platform for governments. As a software-as-a-service provider, we need a technology platform with the services and performance we can rely on. With Apigee Edge Cloud built on AWS, we get the benefits of AWS’s proven cloud-based services along with the full suite of Apigee’s API management capabilities, which includes monetization, analytics, Node.js support, and more,” said Tim Rodriguez, senior software engineer at OpenGov, Inc.

         

        Apigee Reference Architecture for AWS Developers

        Apigee recently announced a new reference architecture designed to make it easier for developers to use the richly featured Apigee Edge API management software on AWS. It provides a resource that documents best practices for considerations such as security and performance when developing Apigee-powered applications using AWS services. The reference architecture can be found here on the Apigee website. 

        In addition, Apigee is working with AWS Lambda to develop an open source plug-in to enable easier access to AWS services on Apigee Edge software. AWS Lambda is a next-generation compute service that runs developers’ code in response to events and automatically manages the compute resources for them, making it easy to build and manage applications that respond quickly to new information. Apigee’s API Management for AWS Lambda will be available later this year.

         

        Apigee Edge: Available for public cloud, private cloud or hybrid deployment

        Apigee Edge software is available both as an on-demand cloud service and an on-premises solution deployed in a customer’s private datacenter. In addition, the Apigee Edge Microgateway capability provides a hybrid cloud deployment option that leverages the availability and performance of the Apigee public cloud together with the performance of local, on-premises API management. With these three deployment options, Apigee empowers customers to optimize the performance, availability and capacity of their API programs.

         

        Useful Links:

        Apigee on AWS reference architecture

        Replay of Apigee and AWS joint webinar on “Bringing API Management to AWS-Powered Backends

         

        About Apigee

        Apigee® (NASDAQ: APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 30 percent of the Fortune 100, five of the top six Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California.  For more information, go to http://apigee.com.

         

        Connect with Apigee

        Apigee blog: http://apigee.com/about/blog/

        Apigee community: https://community.apigee.com/

        Twitter: https://twitter.com/Apigee

        LinkedIn: https://www.linkedin.com/company/apigee

         

        Safe Harbor Statement

        This press release contains forward-looking statements, including statements regarding market adoption of digital technologies, planned customer adoption and implementation of Apigee’s products, and potential future customer opportunities. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements.  Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to market adoption of digital technologies, the ability of Apigee’s software to meet its customers’ needs, the quality of Apigee’s software, support and services and related infrastructure capacity and any incorrect implementation or use of Apigee software.

        The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on March 4, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

        ###

         

        Apigee is a registered trademark in the U.S. Other product or company names mentioned may be trademarks or trade names of their respective companies.

         

        Apigee Media Contact:

        press@apigee.com

         

        Share this press release

          Apigee to Host Open Banking & PSD2 Summit in London

           

          EU financial industry leaders convening to discuss how to put systems in place to comply with PSD2

           

          SAN JOSE, CALIF. –  Apigee® (NASDAQ: APIC), developer of an intelligent API platform, has announced the Open Banking & PSD2 Summit 2016 – a one-day event in London dedicated to providing financial institutions with information and guidance on how to embrace the open banking model and comply with the revised Directive on Payment Services (PSD2). The event will take place on Thursday, May 19 at Canary Wharf’s Level39 Technology Accelerator.

          Those interested in attending can register for the Apigee Open Banking & PSD2 Summit here.

          The Summit will feature sessions from API and financial services experts discussing how banks and other financial institutions can put systems in place to meet PSD2 regulations. Financial institutions including Nationwide, RBS, and MoneySupermarket will discuss methods to prepare for PSD2 compliance to maximise innovation and stay competitive in the sector.

          Additional sessions will include a talk from Simon Hamilton, CTO at Nationwide, on how businesses can use open banking regulation as a chance to bring flexibility and transparency to the industry. Jeremy Light, managing director at Accenture Payment Services, will be joined by Javier Santamaria, chairman at the European Payments Council, and Paul Rohan, author of the just-released book, PSD2 in Plain English, to review the current state of open banking and identify how APIs can be used.  Additionally, the founder of The Open Bank Project, Simon Redfern, will present on the day.

           

          “PSD2 and open banking compliance is now a pressing issue among financial institutions, and many in the industry are searching for best practices. At the Summit, leading financial services brands will pull back the curtain and share their approaches to gearing up for this initiative,” said Denis Dorval, Apigee vice president of EMEA. “Attendees can expect to come away with a fresh outlook on their payment systems and a better understanding for how they can move forward to address PSD2 today.”

          For the latest updates on the event, go to https://pages.apigee.com/Open-Banking-PSD2-Summit-2016-London.html

           

          Media Registration

           

          The all-day event will be held at Level39 technology accelerator, One Canada Square, Canary Wharf, London, E14 5AB (View on Google Maps).

          For information contact: apigee@3monkeyszeno.com

           

          About Apigee

          Apigee® (NASDAQ: APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 30 percent of the Fortune 100, five of the top six Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, BBC Worldwide, and Morrisons. Apigee is headquartered in San Jose, California. For more information, go to http://apigee.com.

           

          Connect with Apigee

          Apigee blog: http://apigee.com/about/blog

          Apigee community: https://community.apigee.com/

          Twitter: https://twitter.com/Apigee

          LinkedIn: https://www.linkedin.com/company/apigee

          ###

          Apigee is a registered trademark in the U.S.  Other product or company names mentioned may be trademarks or trade names of their respective companies.

          Media Contacts:

          press@apigee.com

          Share this press release

            Apigee Announces Date of Third Quarter Fiscal 2016 Financial Results Conference Call

             

            SAN JOSE, CALIF. –  Apigee® (NASDAQ: APIC), developer of an intelligent API platform for digital business, today announced that it will report its financial results for the third fiscal quarter ended April 30, 2016 after market close on Wednesday, May 25, 2016.  The company also announced that it will hold a conference call on the same day at 5:00 PM Eastern Time (2:00 PM Pacific Time) to discuss its quarterly financial results.  The conference call may include forward-looking statements.

            The conference call can be accessed by dialing 1-877-407-4018 from the United States or 1-201-689-8471 internationally, with reference to the company name and conference title.  A live webcast of the conference call can be accessed from the investor relations page of Apigee’s company website at http://investors.apigee.com. Following the completion of the call, a recorded replay will be available on the company’s website, and a telephone replay will be available through 11:59 PM Eastern Time on June 1, 2016 by dialing 1-877-870-5176 from the United States or 1-858-384-5517 internationally, with recording access code 13636744.

             

            About Apigee

             

            Apigee® (NASDAQ: APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including more than 30 percent of the Fortune 100, five of the top six Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California.  For more information, go to http://apigee.com.

                                                                                                                                                                  

            Media Contact:
            press@apigee.com

             

             

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              Pitney Bowes Leveraging Apigee to Power its Innovation in Commerce

               

              SAN JOSE, Calif. –  Apigee® (NASDAQ: APIC), developer of an intelligent API platform for digital business, today announced that it has been selected by Pitney Bowes (NYSE: PBI), a global technology company that provides products and solutions that power commerce, for API management.

              Pitney Bowes is a global technology company that enables its clients, including 90 percent of the Fortune 500, more than 200 retailers and 1.5 million small businesses, to succeed in the physical and digital world of commerce. The company is in the midst of a multi-year corporate transformation focused on growing revenue through a broad set of digital businesses in software and ecommerce services, optimizing its own operations globally, and transforming its mailing and shipping business with digital technologies.  Pitney Bowes is leveraging the Apigee Edge API management software to deliver new services, such as location intelligence, shipping, and financial services, for its customers.  Pitney Bowes is also leveraging Apigee’s API management software to enable innovation by both Pitney Bowes and third party developers.

              “In our borderless world, the lines between physical and digital commerce are becoming increasingly blurred,” said James Fairweather, Pitney Bowes’ Senior Vice President of Technology. “Pitney Bowes’ goal is to create modern technology solutions with precision and accuracy for this new complex world of commerce, and Apigee’s technology helps make this possible.”

              Today, Pitney Bowes solutions include mailing and shipping, customer information management, customer engagement, location intelligence, and global ecommerce. The company is using APIs (application programming interfaces) and Apigee to help securely deliver new data-powered digital solutions to customers, and to enable its internal and external developers to build new products more quickly.

              “In today’s accelerated business environment, enterprises need to speed up the pace with which they innovate and adapt to rapidly changing customer and market needs,“ said Chet Kapoor, Apigee CEO. “Digital transformation with APIs is a key part of enabling Pitney Bowes to power billions of transactions across the physical and digital landscape and help shape and refine the world of commerce. We are proud to be part of their digital success.”

              Apigee’s flagship Apigee Edge API management software empowers organizations to securely deliver and manage APIs, with agility and at scale. Apigee Edge is part of the Apigee intelligent API platform, which also includes Apigee Insights, an API-based, self-service predictive analytics solution, and Apigee Link, an API-first Internet of Things (IoT) product for connecting devices to the Internet. Most recently, Apigee introduced Apigee Sense, an intelligent API security product.

              About Apigee

              Apigee® (NASDAQ: APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 30 percent of the Fortune 100, five of the top six Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California. For more information, go to http://apigee.com.

              Connect with Apigee

              Apigee blog: /about/blog/front

              Apigee community: https://community.apigee.com/

              Twitter: https://twitter.com/Apigee

              LinkedIn: https://www.linkedin.com/company/apigee

              Safe Harbor Statement

              This press release contains forward-looking statements, including statements regarding market adoption of digital technologies, planned customer adoption and implementation of Apigee’s products, potential future customer opportunities and opportunities between Apigee and Pitney Bowes. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements.  Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to market adoption of digital technologies, the ability of Apigee’s software to meet its customers’ needs, the quality of Apigee’s software, support and services and related infrastructure capacity and any incorrect implementation or use of Apigee software.

              The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on March 4, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

              ###

               

              Apigee is a registered trademark in the U.S. Other product or company names mentioned may be trademarks or trade names of their respective companies.

               

              Apigee Media Contact:

              press@apigee.com

               

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                The Bancorp Selects Apigee to Help Deliver Access to Fast, Secure Data for Its Customers

                 

                Banking and Technology Solutions Provider Reinventing the Way it Services Customers Through APIs

                 

                SAN JOSE, Calif. – Apigee® (NASDAQ: APIC), developer of an intelligent API platform for digital business, today announced that it has been selected by The Bancorp, a provider of private-label banking and technology solutions for non-bank companies, to help provide its customers and affiliates with fast, simple and secure access to their data through APIs (application programming interfaces).

                 

                Apigee senior vice president of strategy Ed Anuff added, “In today’s digital and interconnected business environment, customers want frictionless and nearly real-time access to their data. APIs are helping make this possible for The Bancorp – empowering them to create better experiences for their partners and affiliates, while helping driving new efficiencies across their internal support teams.”

                 

                Apigee’s flagship Apigee Edge API management software empowers organizations to securely deliver and manage APIs, with agility and at scale. The Apigee Edge software is part of the Apigee intelligent API platform, which also includes Apigee Insights, an API-based, self-service predictive analytics solution, and Apigee Link, an API-first Internet of Things (IoT) product for connecting devices to the Internet. Most recently, Apigee introduced Apigee Sense, an intelligent API security product.

                 

                APIs Key to Digital Transformation in Financial Services

                 

                According to Forrester senior analyst Peter Wannemacher in his Predictions 2016: Financial Services Execs Wake Up To Digital Transformation report: “Financial services providers have been relatively slow to recognize and act on APIs as an opportunity to transform their businesses and, ultimately, better win, serve, and retain customers. This will change in 2016, as digital business executives collaborate with CIOs to champion investment in internal, B2B, and product APIs. APIs won’t only help firms increase agility and provide services to clients and partners: they will enable financial firms to build dynamic ecosystems of value, reconnecting a fragmented value chain.

                 

                The findings of Apigee’s 2015 Digital Impact Survey[1] revealed that smartphones and apps continue to impact the way today’s banking consumers manage their financial lives. In 2015, adoption of digital technologies gained momentum in banking, with nearly three quarters (73%) of smartphone owners reporting a change in the way they bank. This rise in digital experiences for banking may indicate a larger shift in the center of gravity in financial services.  The survey findings show that:

                • More than half of all of U.S. smartphone users (58%) report that they prefer to bank using their smartphone and apps rather than in person at a bank. Among millennials, nearly three quarters (71%) prefer digital options.
                • Approximately one in four respondents report using their smartphone for paying in-store, making or receiving a direct payment via app, or using a non-bank financial management app or website.
                • Between 2014 and 2015, banking app daily usage increased from 14 percent to 20 percent, while non-ATM bank branch usage fell four points (to 41 percent). This represents 52 percent growth in daily banking app usage, year over year. Among those ages 18-29 more than one in four (27%) now use a banking app daily.

                 

                Links:

                • To read the press release announcing findings from the 2015 Digital Impact Survey, go here.
                • To see a report with more information and analysis of the 2015 Digital Impact Survey findings: go here.
                • To see the recent webcast, “Eight Ways the Digital Financial Services Market Will Shift in 2016,” with Forrester’s Peter Wannemacher,” go here.

                 

                About Apigee

                Apigee® (NASDAQ: APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 30 percent of the Fortune 100, five of the top six Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California. For more information, go to http://apigee.com.

                 

                Safe Harbor Statement

                This press release contains forward-looking statements, including statements regarding market adoption of digital technologies, planned customer adoption and implementation of Apigee’s products, potential future customer opportunities and opportunities between Apigee and The Bancorp. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to market adoption of digital technologies, the ability of Apigee’s software to meet its customers’ needs, the quality of Apigee’s software, support and services and related infrastructure capacity and any incorrect implementation or use of Apigee software.

                The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on March 4, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

                 

                Connect with Apigee

                Apigee blog: /about/blog/front

                Apigee community: https://community.apigee.com/

                Twitter: https://twitter.com/Apigee

                LinkedIn: https://www.linkedin.com/company/apigee

                 

                ###

                 

                Apigee is a registered trademark in the U.S. Other product or company names mentioned may be trademarks or trade names of their respective companies.

                 

                Apigee Media Contact:

                press@apigee.com

                 



                [1] The 2015 Digital Impact Survey surveyed 1,000 smartphone owners 18 years of age or older in the United States. Respondent data was modeled on key demographics proportional to known benchmarks for smartphone owners. Respondents were weighted to match the November 2014 omnibus survey by the Pew Research Center, filtered to smartphone owners over 18. Those polled demographically match Pew’s sample in terms of age group distribution, income, education, and regional representation. The Digital Impact Survey is conducted online with respondents sampled from leading industry consumer panels who clear multiple quality checks during the survey process.

                 

                 

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                  Apigee to Present at Roth Conference

                  San Jose, Calif. – March 14, 2016 – Apigee® (NASDAQ: APIC), developer of an intelligent API platform for digital business, today announced that Apigee CEO Chet Kapoor and CFO Tim Wan will be presenting at the 28th Annual ROTH Conference in Laguna Niguel, California.  The presentation is scheduled for Tuesday, March 15, 2016 at 10:00 a.m. PDT.

                  Apigee invites investors and analysts to listen to the live webcast at the investor relations page of Apigee’s company website at http://investors.apigee.com.  A replay of the webcast will be available on the website later in the day.  The webcast may include forward-looking statements.

                  About Apigee

                  Apigee® (NASDAQ: APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 30 percent of the Fortune 100, five of the top six Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California and has over 400 employees worldwide.

                  Investor Relations Contact:

                  Kevin Faulkner

                  kfaulkner@apigee.com
                  1-408-816-1658

                  Media Contact:
                  press@apigee.com

                   

                  Share this press release

                    The Royal Dutch Touring Club (ANWB) Selects the Apigee API Management Platform to Deliver Digital Services to its Four Million Members

                    Netherlands’ travel association using APIs to help enhance personalization of services and drive partner integration

                    SAN JOSE, CALIF. – March 10, 2016 – Apigee®, developer of an intelligent API platform for digital business, announced that the Royal Dutch Touring Club (ANWB) has selected the Apigee Edge API management platform to help it become a more modern, digital organization.  

                    Formed in 1883 as the Dutch bicyclists' club, ANWB is a large travel association in The Netherlands, similar to the American Automobile Association (AAA) in the U.S. It has over four million members spanning insurance, medical, leisure, legal and roadside assistance. The organization is leveraging the Apigee API platform as a key enabling technology to deliver digital services to its members and help it engage with the younger generation of Dutch citizens. 

                    Scheduled to go live in 2016, the Apigee API platform will help enable a more flexible architecture for ANWB’s online and mobile activities; it will support the implementation of a single sign-on (SSO) solution, which should provide more flexibility for members to access the ANWB website. Apigee software will also help ANWB to expose its APIs for future third-party collaboration. The Apigee API management platform will be installed, hosted and maintained by Triple IT, a full service digital agency, on behalf of ANWB.

                    “Businesses need to constantly reinvent themselves to stay relevant to their customers, especially one that has been going strong for over 130 years,” said Sander Morreau – ICT manager at ANWB. “We recognized that becoming a digital business was vital to our future growth, helping us to attract and engage with the next generation by providing them with the apps and services that they demand.

                    “By working with Apigee and Triple IT, we’ll be able to digitize our offering and open up our APIs to deliver more personalized services to members, collaborate with third parties and also bring new services to market,” continued Morreau. 

                    “Today’s consumers expect to engage with brands in a way that fits with their own connected lifestyles; our latest report covering the UK found that 79 percent of UK businesses are seeing a fundamental shift in customer expectations due to digital growth[1],” said Ed Anuff, senior vice president of product strategy at Apigee. “To stay relevant in a rapidly shifting marketplace, businesses like ANWB are building digital platforms with Apigee to help them provide a more personal and convenient service to customers, while also building potential new revenue opportunities for the business.”

                    “Triple IT creates the strategies and concepts for digital solutions that enables clients to interact with their customers in new and relevant ways,” said Lennart van Wijk, managing director, Triple Cloud Solutions, a division of Triple IT. “Together we are helping transform brands into remarkable experiences, helping our clients develop a competitive advantage. It is our mission to develop leading products in leading businesses and our service has made us a trusted supplier for some of Holland’s leading brands like ANWB.”

                    About ANWB

                    The Royal Dutch Touring Club (ANWB) offers a wide range of services related to roadside assistance and medical and repatriation assistance abroad, legal assistance, travel, information products, insurances, selling travel related products and many other products and services in the areas of recreation, tourism and mobility. Furthermore, the ANWB is active in lobbying in the fields of driving, road safety, mobility, travel and recreation. http://www.anwb.nl/

                    About Triple IT

                    Triple IT is a Dutch company founded in 1998 by the four current partners and has continually grown since. It creates synergizing opportunities between content, media and technology and provides products and services for Internet and Mobile, with a strong focus on cutting edge product innovations.

                    www.triple-it.nl

                    About Apigee

                    Apigee provides an intelligent API platform for digital business acceleration. Many of the world's largest organizations select Apigee to enable their digital business, including 30 percent of the Fortune 100, five of the top six Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, eBay, Burberry, Shell, Live Nation, and Morningstar. Apigee is headquartered in San Jose, California and has over 400 employees worldwide.

                    Connect with Apigee

                    Apigee blog: /about/blog/front

                    Apigee community: https://community.apigee.com/

                    Twitter: https://twitter.com/Apigee

                    LinkedIn: https://www.linkedin.com/company/apigee

                    Safe Harbor Statement

                    This press release contains forward-looking statements, including statements regarding market adoption of digital technologies, planned customer adoption and implementation of Apigee’s products, potential future customer opportunities and benefits between Apigee and The Royal Dutch Touring Club (ANWB), as well as the success of the relationship between Apigee and Triple IT and the potential opportunities with joint customers. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to market adoption of digital technologies, the ability of Apigee’s software to meet its customers’ needs, the quality of Apigee’s software, support and services and related infrastructure capacity, the continued business success of both Triple IT and Apigee, Apigee’s ability to maintain the Triple IT relationship,  the complementarity of each of Apigee’s and Triple IT’s products or services and the effectiveness of their combined use; and any incorrect implementation or use of Apigee software.

                    The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on March 4, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

                    Apigee is a registered trademark in the U.S.  Other product or company names mentioned may be trademarks or trade names of their respective companies.

                    Media Contact:

                    press@apigee.com



                    [1] According to a 2015 study by Apigee of 252 senior executives and IT decision makers across the UK in four major industries. The study can be found at: https://pages.apigee.com/rs/351-WXY-166/images/Apigee_Institute_Report_UK.pdf.

                     

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                      Digital Transformation Gaining Momentum - Apigee’s 2016 “The State of APIs” Report

                       

                      Enterprises embracing APIs for their digital transformations; Retail, media and entertainment, and information services industries driving largest API volume

                       

                      SAN JOSE, Calif., - Apigee® (NASDAQ: APIC), developer of an intelligent API platform for digital business, today announced the publication of the 2016 “The State of APIs,” a report on digital business momentum and trends based on an analysis of hundreds of billions of API calls in 2015 through the Apigee Edge cloud product. The findings show that the industries undergoing the most rapid digital transformation as measured by API traffic volume are media and entertainment, retail, and information services, which together account for over 70 percent of all enterprise API traffic on Apigee’s cloud product. In addition, the report’s findings suggest that public or “open” API programs – those that make APIs available to software developers outside their organization through a developer portal – are on the rise, accounting for 67 percent of the API programs overall in 2015, compared to only 57 percent in the previous year.

                       

                      “Demand for better digital experiences has grown from a murmur to a roar. Across the enterprise today, consumers, employees and partners all want to seamlessly connect with services and experiences at any time – wherever they are, and across multiple devices and platforms,” said Apigee CEO Chet Kapoor. “We believe that digital transformation has reached an inflection point – that every industry now understands that APIs are the key to corporate survival in our increasingly digital world. The robust growth of API traffic in the enterprise suggests that this change is beginning.”

                       

                      Apigee provides an industry-leading API management platform used by hundreds of enterprises worldwide, including 30 percent of the companies in the Fortune 100. Apigee’s Software-as-a-Service (SaaS) platform currently processes close to 400 billion calls per year.

                       

                      The findings in Apigee’s 2016 “The State of APIs” report are based on original data and analysis of hundreds of billions of API calls in the Apigee Edge cloud product across its global network of 24 data centers in the year 2015. It examines the impact of APIs on businesses across industries, common use cases driving digital transformation in different industries, and the best practices of API-driven enterprises. The findings present a snapshot of current API trends, along with analysis of technology use and digital transformation in the enterprise.

                       

                      Additional highlights from The State of APIs report include:

                       

                      • Enterprise digital transformation gaining momentum: API traffic volume increased 2.8X over the previous year in the Apigee cloud.
                      • Partner initiatives driving most API growth in enterprises: In 2015, partner/ecosystem initiatives accounted for 56 percent of all APIs, with consumer APIs accounting for 39 percent. Information services and high tech industries are the most focused on building API-powered partner ecosystems.
                      • But customer experiences initiatives drove 4X more API traffic: While partner programs led in number of APIs, customer experience initiatives accounted for approximately 80 percent of all API traffic, given the millions of consumers using apps.
                      • Businesses are using APIs for enhanced security: Companies are widely adopting security capabilities in their APIs; 78 percent are using Apigee Edge spike arrest functionality and 74 percent are using the OAuth authorization standard; 72 percent are using threat protection capabilities in the API layer.
                      • Businesses are moving more business logic into the API tier: 85 percent of enterprises are adding business logic in the API tier to accelerate their digital initiatives without disrupting their back-ends. Fifty-seven percent of enterprises are using the API tier for transformations to tie their disparate backend systems and formats seamlessly.
                      • Businesses are enhancing app performance and availability with APIs: Enterprises are using a variety of techniques at the API tier to drive superior end user experience of apps; 74 percent are using caching for app responsiveness and 68 percent use quota management to increase high availability.

                       

                      Apigee’s 2016 “The State of APIs” report can be downloaded here (requires email).

                       

                      Note to editors: to get a copy the full 2016 State of APIs report, please send request to press@apigee.com.

                       

                      Methodology

                      The State of APIs report compiles information about digital transformation trends, the impact of APIs on businesses across industries, and best practices across API-driven businesses. Unless otherwise noted, findings in this report are based on hundreds of billions of API calls made through the Apigee cloud during 2015 and distributed across Apigee’s global network of 24 data centers from customers spanning 20 vertical industry sectors. Year-over-year comparisons use 2014 traffic data.

                       

                      About Apigee

                      Apigee® (NASDAQ: APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 30 percent of the Fortune 100, five of the top six Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California and has over 400 employees worldwide.

                       

                      Connect with Apigee

                      Apigee blog: https://blog.apigee.com/front

                      Apigee community: https://community.apigee.com

                      Twitter: https://twitter.com/Apigee

                      LinkedIn: https://www.linkedin.com/company/apigee

                       

                      Safe Harbor Statement

                      This press release contains forward-looking statements, including statements regarding the market for Apigee’s products and the potential future customer benefits of using them. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements.  Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to market adoption of digital technologies, the ability of Apigee’s software to meet its customers’ needs, the quality of Apigee’s software, support and services and related infrastructure capacity and any incorrect implementation or use of Apigee software.

                      The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on December 8, 2015. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

                       

                      ###

                       

                      Apigee is a registered trademark in the U.S. Other product or company names mentioned may be trademarks or trade names of their respective companies.

                       

                      Apigee Media Contacts:

                      press@apigee.com

                       

                       

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                        Apigee to Present at Morgan Stanley Conference

                         

                        SAN JOSE, Calif., - Apigee® (NASDAQ: APIC), developer of an intelligent API platform for digital business, today announced that Apigee CFO Tim Wan and CTO Anant Jhingran will be presenting at the Morgan Stanley Technology, Media and Telecom Conference in San Francisco, California.  The presentation is scheduled for Thursday, March 3, 2016 at 8:45 a.m. PST.

                        Apigee invites investors and analysts to listen to the live webcast at the investor relations page of Apigee’s company website at http://investors.apigee.com.  A replay of the webcast will be available on the website later in the day.  The webcast may include forward-looking statements.

                        About Apigee

                        Apigee® (NASDAQ:APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 30 percent of the Fortune 100, five of the top six Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California and has over 400 employees worldwide.

                        Media contact:

                        press@apigee.com

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