Top Image Systems, a public company whose shares are traded on NASDAQ, is a growing technology innovator.


A leading global provider of content process automation technologies, Top Image Systems is recognized for innovative thought leadership by leading independent research firms such as Forrester and Gartner. TIS addresses the established enterprise capture market, a market that reached some $3 billion in 2014 and for which estimated CAGR from 2013 – 2018 is 8% globally and 10% for North America.  Today TIS is focusing largely on financial process automation, a sub-sector comprising some 30% of this overall market; here growth is notable in the mid-market, where the demand for cloud computing is growing. In parallel, we are active in the emerging high growth mobile capture market, where we have already closed significant partnerships that are expected to bring increasingly higher revenue from quarter to quarter.

Especially following the acquisition of eGistics in 2014, the company serves a very substantial and loyal blue chip customer base from which we earn a high ratio of recurring revenue and to whom we cross-sell innovative new technologies. We are committed to continually innovate and invest in our future. Combining this with a strong management team, a growing U.S. presence, a powerful integrated solution portfolio, a healthy install base and growing market demand, we expect the combination of our mature solutions together with our new products and new partnerships to position TIS in a steady growth pattern.

We are proud of Top Image System’s achievements to date and are confident in our future. The company has consistently leveraged its proprietary and long-proven data capture technology and expertise to drive value for our customers and our shareholders.  By realizing continuous efficiency improvements in our operations, protecting our core remittance and forms processing business and making prudent investments in high velocity cloud applications that target the underserved mid-market for accounts payable automation, we aim to transform our company into a high growth cloud applications and services business.

TIS Financials at a Glance

The Ordinary Shares of Top Image Systems, Ltd. are traded on the NASDAQ Small Cap market under the symbol TISA.
Exchange: NasdaqCM; Ticker: TISA

For more up-to-date financial information on TISA, visit Top Image Systems Ltd. (TISA) @ YAHOO! FINANCE.

Top Image Systems Latest Financial Results:

Full Year Fiscal 2017 Highlights

  • Annual revenues were $29.7 million, compared to $31.6 million last year;
  • Net loss was $(6.6) million, the same as fiscal 2016;
  • Operating loss was $(5.8) million, the same as in 2016.
  • Adjusted EBITDA* was a loss of $(2.8) million, compared to a loss of $(0.6) million for fiscal 2016;
  • Recurring revenues were $18.7 million, representing 63% of total revenues in fiscal 2017, compared to $19.4, representing 61% of total revenues, in 2016;
  • GAAP total expenses for fiscal 2017 were $35.4 million, compared to total expenses of $37.4 million for fiscal 2016.
  • Successfully extended multi-year subscription agreements with our top financial service providers, which will generate high-value private cloud recurring revenue streams;
  • Closed a multi-year, seven-figure agreement with a leading business process outsource service provider in EMEA, providing call center financial process automation and digital mailroom solutions;
  • Successfully upgraded one of our largest customers, Bosch, to the latest version of eFLOW AP, processing more than 450,000 invoices per month, which was featured by IDC in a published case study;
  • Closed a two-year, $3.3 million transaction with a leading multinational energy company to upgrade its existing accounts payable solution to eFLOW AP for SAP;
  • Selected by a Japanese personal care company with subsidiaries worldwide to implement an accounts payable solution that automates the capture and processing of over 180,000 supplier invoices annually; and
  • Closed two strategic deals for eFLOW AP for SAP in the US including a multi-year, six-figure transaction processing over 65,000 invoices annually in a hybrid cloud environment.
  • During fiscal 2017, TIS announced and implemented additional measures to achieve cost reductions through consolidation and restructuring:
  • Consolidation of sales and marketing functions for the Americas into our US headquarters in Plano, Texas, under the leadership of John McCaffrey, Vice President and General Manager of TIS Americas;
  • Integration of the global Engineering teams under Arvind Sharma, Senior Vice President of Engineering; and
  • Implementation of a Customer Success initiative designed to improve customer service levels and to maximize high-value recurring revenue from our installed base of customers.
  • These measures instituted in fiscal 2017 have resulted in a reduction of the Company’s operating expenses by $2 million.


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