Exa Corporation
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| Public | |
| Traded as | NASDAQ: EXA |
| Industry | Computer-aided engineering |
| Founded | November 21, 1991 |
| Founder | Kim Molvig |
| Products | |
| Website | exa |
Exa Corporation is a developer and distributor of computer-aided engineering (CAE) software. Its main product is PowerFLOW, a lattice-boltzmann derived implementation of computational fluid dynamics (CFD), which can very accurately simulate internal and external flows in low-Mach regimes. PowerFLOW is used extensively in the international automotive and transportation industries.
Exa was founded on November 21, 1991. Exa raised about $2.4 million in a series of venture capital investments from April 1993 though 1994 from Fidelity Ventures and individuals. More funding was obtained in 1994, 1996, 1998 and 2005, including Boston Capital Ventures as an investor. In 1999, Stephen A. Remondi became chief executive.
The company filed for an initial public offering in August 2011. On July 3, 2012, company shares were listed on the NASDAQ exchange under symbol EXA, raising about $3.9 million.
For fiscal year 2012, Exa recorded total revenues, net income and Adjusted EBITDA of $45.9 million, $14.5 million and $7.1 million, respectively. Since generating its first commercial revenue in 1994, Exa's annual revenue had increased for 18 consecutive years. The company was profitable in fiscal years 2011 and 2012 after recording net losses in the three preceding fiscal years. Exa's total revenues and Adjusted EBITDA in fiscal year 2012 increased 21% and 51%, respectively, compared with fiscal year 2011. Exa reported $61.4 million in total revenue for the full year fiscal 2015. The company's total revenue is expected to be in the range of $64.7 million to $67.0 million for the full year fiscal 2016.
The Exa corporate headquarters are located in Burlington, Massachusetts. The company also has U.S. offices in Livonia, Michigan and Brisbane, California, along with offices in Europe and Asia. Exa's European headquarters are located in Paris, France, and it also has European offices in Germany, Italy and the United Kingdom. Exa's Asia headquarters are located in Japan, and its Asia offices are based out of China, India and South Korea. Exa employs over 260 people worldwide.
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