Ellie Mae reported revenues for the fourth quarter of 2018 of $116.0 million, compared to $112.9 million for the fourth quarter of 2017. Net income for the fourth quarter of 2018 was $0.1 million, or $0.00 per share, compared to $9.9 million, or $0.28 per diluted share, for the fourth quarter of 2017.
Net income for that time period includes the amortization of cost from the Velocify acquisition, and one-time costs related to a reorganization of the technology group.
On a non-GAAP basis, adjusted net income for the fourth quarter of 2018 was $9.5 million, or $0.27 per share, compared to $11.8 million, or $0.33 per share, for the fourth quarter of 2017.
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Total revenue for 2018 was $480.3 million, compared to $417.0 million for 2017. Net income for 2018 was $22.6 million, or $0.63 per share, compared to $52.9 million, or $1.48 per share, for 2017. Full year 2018 net income includes the amortization of acquisition-related intangibles related to the Velocify acquisition.
On a non-GAAP basis, adjusted net income for 2018 was $63.4 million, or $1.77 per share, compared to $58.9 million, or $1.64 per share, for 2017. Adjusted EBITDA for 2018 was $122.5 million, compared to $123.9 million for 2017.
Ellie Mae has agreed to be acquired by Thoma Bravo LLC in an all-cash transaction for around $3.7 billion. Stockholders will receive $99.00 a share in cash once the transaction closes. The deal is subject to approval by stockholders and regulatory authorities and is slated to close in the second or third quarter of 2019.
