8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 20, 2015

Covisint Corporation

(Exact Name of Registrant as Specified in its Charter)

Commission File Number: 001-36088

Michigan (State or other jurisdiction of incorporation or organization)	26-2318591 (I.R.S. Employer Identification No.)
26533 Evergreen Road, Suite 500, Southfield, Michigan (Address of Principal Executive Offices)	48076 (Zip Code)

(Registrant’s telephone number, including area code): (248) 483-2000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written Communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On May 20, 2015, Covisint Corporation (“Covisint”) issued a press release announcing financial results for its fourth quarter and fiscal year ended March 31, 2015 and certain other information.  A copy of the press release is furnished with the Report as Exhibit 99.1. The Registrant intends to hold an investor call and webcast to discuss these results on May 20, 2015, at 5:00 p.m. Eastern Time. Additional presentation materials relating to such call are furnished hereto as Exhibit 99.2 and are incorporated herein by reference.

Forward-Looking Statements

Certain statements in this Current Report on Form 8-K, including but not limited to statements set forth in the attached press release and additional presentation materials, may constitute forward-looking statements. These forward looking statements involve a number of known and unknown risks, uncertainties and other factors that may cause such forward-looking statements not to be realized and that could cause actual results to differ materially from Covisint’s expectations in these statements. For more information about other risks that could affect the forward-looking statements herein, please see Covisint’s most recent annual report on Form 10-K, quarterly report on Form 10-Q, and other filings made with the Securities and Exchange Commission. Covisint expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any changes in expectations, or any change in events or circumstances on which those statements are based, unless otherwise required by law.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits.

99.1 Press Release, dated May 20, 2015.

99.2 Presentation materials dated May 20, 2015.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

COVISINT CORPORATION

Date: May 20, 2015                        By:    /s/ Enrico Digirolamo    

Enrico Digirolamo

Chief Financial Officer

INDEX OF EXHIBITS

Exhibit No.	Description
99.1	Press Release, dated May 20, 2015
99.2	Presentation materials dated May 20, 2015

EX-99.1

NEWS RELEASE

26533 Evergreen Rd., Suite 500 • Southfield, Michigan 48076
(800) 229-4125

For Immediate Release

May 20, 2015

Covisint Corporation Announces Fourth Quarter and Full-Year Fiscal 2015 Earnings Results

• Fiscal Year 2015 subscription revenue of $66.3 million

• Fiscal 2015 total revenue of $88.5 million

• Year in Transition Successfully Completed

• Transformed Services Business by Partnering with Seven Certified Services Partners

• Reorganized Sales Force and Hired New Senior Vice President of Products and Marketing

DETROIT -- May 20, 2015 -- Covisint Corporation(Nasdaq: COVS), a leading cloud platform provider enabling the Internet of Things (IoT) and Identity Management (IdM) solutions, today announced financial results for the fourth quarter and full fiscal year ended March 31, 2015.

“Fiscal 2015 was a transformative year for Covisint. Over the past twelve months, we successfully transitioned to a fully independent enterprise-grade software company, made a number of strategically significant decisions in both our subscription and services businesses, and transformed our leadership and sales teams,” said Covisint Chairman and CEO Sam Inman. “As we move forward in fiscal 2016, Covisint is well positioned to become the cloud platform of choice for IoT and identity-centric solutions. We are extremely excited about our position within the market and will work diligently with our strategic partners to deploy Covisint’s solutions to help enterprises digitally transform how they do business with their customers and business partners.”

For fiscal year 2016 the company will focus on four key initiatives:

• Continue to build out our direct sales organization;

• Refine and enhance our relationship with our current strategic partners, as well as work to develop and build our pipeline of potential strategic partners;

• Improve our branding and product positioning in the market; and

• Continue to enhance our platform to meet and lead market demand.

Fiscal 2015 Financial Results

• Revenues: Subscription and support revenue decreased 1% year-over-year to $66.3 million. Services revenue decreased 27% year-over-year to $22.2 million. Total revenues decreased by 9% year-over-year to $88.5 million.

• Gross Profit: GAAP gross profit was $22.1 million. GAAP gross margin was 25%. Non-GAAP gross profit was $37.8 million. Non-GAAP gross margin was 43%.

• Earnings: GAAP diluted loss per share was ($1.01) compared to ($1.06) last year. Non-GAAP diluted loss per share was ($0.52) compared to ($0.50) in the prior year.

Fourth Quarter Fiscal 2015 Financial Results

• Revenues: Subscription and support revenue increased 8% year-over-year to $18.4 million. Services revenue decreased 31% year-over-year to $5.1 million. Total revenues decreased by 4% year-over-year to $23.5 million.

• Gross Profit: GAAP gross profit was $1.0 million. GAAP gross margin was 4%. GAAP results were negatively affected by an impairment of $8.3 million of previously capitalized software costs and $0.5 million of customer relationship intangibles associated with portions of our healthcare customer service offerings that we have exited. Non-GAAP gross profit was $11.0 million. Non-GAAP gross margin was 47%.

• Earnings: GAAP diluted loss per share was ($0.32) compared to ($0.27) in the same quarter last year. Non-GAAP diluted loss per share was ($0.06) compared to ($0.17) in the same quarter last year.

Fourth Quarter Fiscal 2015 Business Highlights

In the fourth quarter, Covisint:

• At CES 2015, announced that the Covisint platform is providing support for Hyundai's newly released Hyundai Blue Link smartwatch application. The application is the latest innovation in Hyundai's Blue Link telematics platform, which is secured and integrated by Covisint. With Blue Link, customers can remotely activate certain automotive functions, including remote start, as well as receive important vehicle information via their mobile devices, which now include smartwatches.

• Announced that its chief security officer, David Miller, presented at the IBM InterConnect 2015 Conference and discussed how connectivity is achieved with one of the biggest items in the Internet of Things (IoT) - the vehicle.

• Announced strategic relationship with Tech Mahindra focused on expanding IoT platform and digital transformation solutions for global enterprises. This initiative will provide Covisint a distinct advantage with alliances and customers. Covisint's cloud-based platform and Tech Mahindra's expertise in IoT and digital transformation will open up promising opportunities for both enterprises.

Use of Non-GAAP Financial Measures

In addition to reporting financial results in accordance with generally accepted accounting principles (“GAAP”), Covisint monitors non-GAAP measures, including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per diluted share and adjusted EBITDA. Each of these financial measures excludes the impact of certain items (the impact of stock award compensation expense, the amortization and impairment of intangible assets and amounts incurred for capitalized internal software costs) and, therefore, has not been calculated in accordance with GAAP.

Covisint monitors these non-GAAP measures to evaluate its ongoing operational performance and enhance an overall understanding of its past financial performance. Covisint believes that these non-GAAP metrics help illustrate underlying trends in its business that could otherwise be masked by the effect of the income or expenses, as well as the related tax effects, that are excluded in non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per diluted share and adjusted EBITDA. Furthermore, Covisint uses these measures to establish budgets and operational goals for managing its business and evaluating its performance. Covisint also believes that these non-GAAP measures provide additional tools for investors to use in comparing its recurring core business operating results over multiple periods against other companies in its industry.

The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating its business internally and as such has determined that it is important to provide this information to investors.

Conference Call and Webcast Information

Covisint management will hold a conference call at 5:00 p.m. (Eastern time) today to discuss these results. The U.S. toll free dial-in for the conference call is 1-877-407-4018, and the international dial-in number is 1-201-689-8471. No passcode is required. A live webcast of the conference call will also be available on the company's website at investors.covisint.com.

For those unable to participate in the conference call, a replay will be available after the conclusion of the earnings call on May 20, 2015, through May 27, 2015. The U.S. toll-free replay dial-in number is 1-877-870-5176 and the international replay dial-in number is 1-858-384-5517. The replay passcode is 13607930.

About Covisint Corporation

Covisint provides an open, developer-friendly, enterprise-class cloud platform to facilitate the rapid development and deployment of Internet of Things (IoT), Identity Management (IdM), and B2B collaboration solutions. Our platform enables users to securely identify, authenticate and connect users, devices, applications and information, and has been successfully operating globally at enterprise scale for over 12 years. Today, the Covisint platform enables more than 3,000 organizations to connect with more than 212,000 business partners and customers, and supports more than $4 billion in ecommerce transactions annually.

• Follow us:

• Covisint on Twitter

• Covisint on LinkedIn

• Covisint on Facebook

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding Covisint's future financial performance, market growth, the demand for Covisint's solutions, and general business conditions. Any forward-looking statements contained in this press release are based upon Covisint's historical performance and its current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Covisint's expectations as of the date of this press release. Subsequent events may cause these expectations to change, and Covisint's disclaims any obligation to update the forward-looking statements in the future. These

forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, our ability to attract new customers; the extent to which customers renew their contracts; the extent we are able to maintain pricing with our customers at renewal; the continued growth of the market for our solutions; the success of our channel partner and certified partner strategies; competition from current competitors and new market entrants; unpredictable macro-economic conditions; the loss of any of our key employees; the length of the sales for our solutions; and other risk and uncertainties. Further information on potential factors that could affect actual results is included in Covisint's reports filed with the SEC.

Investor Relations Contact

866.319.7659

investors@covisint.com

Media Contact

Brad Schechter

248.483.2097

bschecht@covisint.com

For Sales and Marketing Information

Covisint Corporation, 26533 Evergreen Road, Suite 500, Southfield, MI 48076, (800) 229-4125

http://www.covisint.com

COVISINT CORPORATION

CONSOLIDATED BALANCE SHEETS

(In Thousands)

(Unaudited)

	March 31, 2015			March 31, 2014
ASSETS
CURRENT ASSETS:
Cash		$50,077			$49,536
Accounts receivable, net	15,348			21,838
Deferred tax asset, net	16			1,017
Due from parent and affiliates	—			2,813
Prepaid expenses	3,160			1,686
Other current assets	4,209			4,297
Total current assets	72,810			81,187
PROPERTY AND EQUIPMENT, LESS ACCUMULATED DEPRECIATION AND AMORTIZATION	8,809			4,751
CAPITALIZED SOFTWARE AND OTHER INTANGIBLE ASSETS, NET	10,646			23,040
OTHER:
Goodwill	25,385			25,385
Deferred costs	1,736			6,188
Deferred tax asset, net	1,528			131
Other assets	928			766
Total other assets	29,577			32,470
TOTAL ASSETS		$121,842			$141,448
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable		$7,703			$3,893
Accrued commissions	3,286			1,640
Deferred revenue	18,029			16,606
Accrued expenses	3,344			3,752
Deferred tax liability, net	1,597			—
Total current liabilities	33,959			25,891
DEFERRED REVENUE	3,914			11,223
ACCRUED LIABILITIES AND OTHER	2,622			56
DEFERRED TAX LIABILITY, NET	—			2,668
Total liabilities	40,495			39,838
COMMITMENTS AND CONTINGENCIES	—			—
SHAREHOLDER’S EQUITY:
Common Stock	—			—
Additional paid-in capital	157,004			140,569
Retained deficit	(75,633		)	(38,947		)
Accumulated other comprehensive income (loss)	(24		)	(12		)
Total shareholders' equity	81,347			101,610
TOTAL LIABILITIES AND SHAREHOLDER’S EQUITY		$121,842			$141,448

COVISINT CORPORATION

COMBINED AND CONSOLIDATED STATEMENTS OF OPERATIONS

(In Thousands, Except Per Share Data)

(Unaudited)

	THREE MONTHS ENDED MARCH 31,						TWELVE MONTHS ENDED MARCH 31,
	2015			2014			2015			2014
REVENUE		$23,457			$24,400			$88,534			$97,135
COST OF REVENUE	22,428			15,278			66,404			56,374
GROSS PROFIT	1,029			9,122			22,130			40,761
	4		%	37		%	25		%	42		%
OPERATING EXPENSES:
Research and development	1,852			3,046			10,416			12,408
Sales and marketing	7,812			8,640			32,593			35,250
General and administrative	3,528			7,338			17,640			28,676
Total operating expenses	13,192			19,024			60,649			76,334
OPERATING LOSS	(12,163		)	(9,902		)	(38,519		)	(35,573		)
Other income	15			—			69			—
LOSS BEFORE INCOME TAX PROVISION	(12,148		)	(9,902		)	(38,450		)	(35,573		)
INCOME TAX PROVISION	33			26			112			85
NET LOSS		($12,181	)		($9,928	)		($38,562	)		($35,658	)
DILUTED EPS COMPUTATION
Numerator: Net loss		($12,181	)		($9,928	)		($38,562	)		($35,658	)
Denominator:
Weighted-average common shares outstanding	38,998			37,363			38,217			33,774
Dilutive effect of stock awards	—			—			—			—
Total shares	38,998			37,363			38,217			33,774
Diluted EPS		($0.32	)		($0.27	)		($1.01	)		($1.06	)

COVISINT CORPORATION

NON-GAAP COMBINED AND CONSOLIDATED STATEMENTS OF OPERATIONS

(In Thousands, Except Per Share Data)

(Unaudited)

	THREE MONTHS ENDED MARCH 31,						TWELVE MONTHS ENDED MARCH 31,
	2015			2014			2015			2014
REVENUE		$23,457			$24,400			$88,534			$97,135
COST OF REVENUE	12,422			13,447			50,712			48,792
GROSS PROFIT	11,035			10,953			37,822			48,343
	47		%	45		%	43		%	50		%
OPERATING EXPENSES:
Research and development	3,036			4,311			13,749			17,381
Sales and marketing	7,082			8,122			30,200			29,348
General and administrative	3,124			4,877			13,766			18,306
Total operating expenses	13,242			17,310			57,715			65,035
OPERATING LOSS	(2,207		)	(6,357		)	(19,893		)	(16,692		)
Other income	15			—			69			—
LOSS BEFORE INCOME TAX PROVISION	(2,192		)	(6,357		)	(19,824		)	(16,692		)
INCOME TAX PROVISION	33			26			112			85
NET LOSS		($2,225	)		($6,383	)		($19,936	)		($16,777	)
DILUTED EPS COMPUTATION
Numerator: Net loss	$	(2,225	)	$	(6,383	)	$	(19,936	)	$	(16,777	)
Denominator:
Weighted-average common shares outstanding	38,998			37,363			38,217			33,774
Dilutive effect of stock awards
Total shares	38,998			37,363			38,217			33,774
Diluted EPS		($0.06	)		($0.17	)		($0.52	)		($0.50	)

COVISINT CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP

(In Thousands, Except Per Share Data)

(Unaudited)

	THREE MONTHS ENDED MARCH 31,						TWELVE MONTHS ENDED MARCH 31,
	2015			2014			2015			2014
Gross profit		$1,029			$9,122			$22,130			$40,761
Gross profit %	4		%	37		%	25		%	42		%
Adjustments:
Stock compensation expense—cost of revenue	30			94			613			829
% of total revenue	—		%	—		%	1		%	1		%
Cost of revenue—amortization of capitalized software	9,976			1,737			15,079			6,753
% of total revenue	43		%	7		%	17		%	7		%
Adjusted gross profit		$11,035			$10,953			$37,822			$48,343
Adjusted gross profit %	47		%	44		%	43		%	50		%
	THREE MONTHS ENDED MARCH 31,						TWELVE MONTHS ENDED MARCH 31,
	2015			2014			2015			2014
Cost of revenue		$22,428			$15,278			$66,404			$56,374
Adjustments:
Stock compensation expense	30			94			613			829
Cost of revenue - amortization of capitalized software	9,976			1,737			15,079			6,753
Cost of revenue, non-GAAP		$12,422			$13,447			$50,712			$48,792
	THREE MONTHS ENDED MARCH 31,						TWELVE MONTHS ENDED MARCH 31,
	2015			2014			2015			2014
Research and development		$1,852			$3,046			$10,416			$12,408
Adjustments:
Capitalized internal software costs	(1,210		)	(1,331		)	(3,508		)	(5,695		)
Stock compensation expense	26			66			175			722
Research and development, non-GAAP		$3,036			$4,311			$13,749			$17,381
	THREE MONTHS ENDED MARCH 31,						TWELVE MONTHS ENDED MARCH 31,

	2015			2014			2015			2014
Sales and marketing		$7,812			$8,640			$32,593			$35,250
Adjustments:
Stock compensation expense	201			441			1,570			5,594
Amortization of customer relationship agreements	529			77			823			308
Sales and marketing, non-GAAP		$7,082			$8,122			$30,200			$29,348
	THREE MONTHS ENDED MARCH 31,						TWELVE MONTHS ENDED MARCH 31,
	2015			2014			2015			2014
General and administrative		$3,528			$7,338			$17,640			$28,676
Adjustments:
Stock compensation expense	404			2,461			3,874			10,330
Amortization of trademarks	—			—			—			40
General and administrative, non-GAAP		$3,124			$4,877			$13,766			$18,306
	THREE MONTHS ENDED MARCH 31,						TWELVE MONTHS ENDED MARCH 31,
	2015			2014			2015			2014
Net loss		($12,181	)		($9,928	)		($38,562	)		($35,658	)
Adjustments:
Capitalized internal software costs	(1,210		)	(1,331		)	(3,508		)	(5,695		)
Stock compensation expense	661			3,062			6,232			17,475
Amortization of capitalized software and other intangibles	10,505			1,814			15,902			7,101
Net loss, non-GAAP		($2,225	)		($6,383	)		($19,936	)		($16,777	)
	THREE MONTHS ENDED MARCH 31,						TWELVE MONTHS ENDED MARCH 31,
	2015			2014			2015			2014
Diluted EPS		($0.32	)		($0.27	)		($1.01	)		($1.06	)
Adjustments:
Capitalized internal software costs	(0.03		)	(0.04		)	(0.09		)	(0.17		)
Stock compensation expense	0.02			0.08			0.16			0.52
Amortization of capitalized software and other intangibles	0.27			0.05			0.42			0.21
Diluted EPS, non-GAAP		($0.06	)		($0.17	)		($0.52	)		($0.50	)

COVISINT CORPORATION

COMBINED AND CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands)

(Unaudited)

	THREE MONTHS ENDED MARCH 31,						TWELVE MONTHS ENDED MARCH 31,
	2015			2014			2015			2014
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Net income (loss)		($12,181	)		($9,928	)		($38,562	)		($35,658	)
Adjustments to reconcile net income (loss) to cash provided by (used in) operations:
Depreciation and amortization	2,483			2,255			9,574			8,678
Capitalized software impairment	8,751			—			8,751			—
Deferred income taxes	19			(39		)	11			4
Stock award compensation	661			3,062			6,232			17,475
Other	307			—			307			—
Net change in assets and liabilities, net of effects from currency fluctuations:
Accounts receivable	(1,249		)	(2,846		)	6,377			3,618
Other assets	593			1,523			3,306			3,414
Accounts payable and accrued expenses	6,379			1,919			6,484			1,543
Deferred revenue	5,524			(1,680		)	(5,610		)	(7,410		)
Net cash provided by (used in) operating activities		$11,287			($5,734	)		($3,130	)		($8,336	)
CASH FLOWS USED IN INVESTING ACTIVITIES:
Purchase of:
Property and equipment	(3,543		)	(1,605		)	(5,518		)	(3,541		)
Capitalized software	(1,211		)	(1,332		)	(3,509		)	(5,696		)
Net cash used in investing activities		($4,754	)		($2,937	)		($9,027	)		($9,237	)
CASH FLOWS PROVIDED BY FINANCING ACTIVITES:
Cash payments from parent company	—			12,538			23,999			65,746
Cash payments to parent company	—			(9,061		)	(13,879		)	(67,003		)
Proceeds from initial public offering	—			—			—			68,448
Initial public offering costs	—			(15		)	—			(1,412		)
Net proceeds from exercise of stock awards	461			—			2,865			332
Net cash provided by financing activities		$461			$3,462			$12,985			$66,111
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(242		)	(25		)	(287		)	32
NET CHANGE IN CASH	6,752			(5,234		)	541			48,570
CASH AT BEGINNING OF PERIOD	43,325			54,770			49,536			966
CASH AT END OF PERIOD		$50,077			$49,536			$50,077			$49,536

EX-99.2

Covisint Corporation Fourth Quarter and Full-Year Fiscal 2015 Results May 20, 2015

2 Forward Looking Statements This presentations contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operations, financial performance, the company’s strategy for growth, product development, market position and expenditures. These statements use words, and variations of words, such as "will," "expect," "next," "project," "potential," "continue," "expand," and "grow". You are cautioned not to rely on these forward-looking statements, as they are based on our current expectations of future events and thus, are inherently subject to uncertainty. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, any projections of financial information; any statements about historical results that may suggest trends for our business and results of operations; any statements of the plans, strategies and objectives of management for future operations; any statements of expectation or belief regarding future events, potential markets or market size, technology developments, or enforceability of our intellectual property rights; and any statements of assumptions underlying any of the foregoing. These statements are based on estimates and information available to us at the time of this presentation and are not guarantees of future performance. Actual results could differ materially from our current expectations as a result of many factors, including but not limited to: quarterly fluctuations in our business and results of operations; our ability to address market needs and sell our applications and services successfully; the general market conditions of the industry; and the effects of competition. These and other risks and uncertainties associated with our business are described in our Annual Report on Form 10-K for the fiscal year ended March 31, 2014. We assume no obligation and do not intend to update these forward-looking statements. In addition to U.S. GAAP financials, this presentation includes certain non-GAAP financial measures. These historical and forward-looking non-GAAP measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP measures is included in the appendix to this presentation. Covisint is a registered trademark of Covisint Corporation. This presentation also contains additional trademarks and service marks of ours and of other companies. We do not intend our use or display of other companies’ trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by, these other companies.

3 FY15: Transition Year in Review • Leadership and Organization – Completed major re-organization and staff rationalization – Strengthened Senior Leadership Team • Developing and building the Product Management and Product Marketing Group – Established West Coast HQ in San Francisco • Software/Services to Software Focus – Developed and executed a Certified Services Partner program • Currently: 7 Partners – Re-organized the direct sales force with enterprise-class focus • Shifted focus of sales force to $2 – $3M annual deals – Exited virtually the entire Healthcare application business – Substantially exited the Services business

4 FY15: Transition Year in Review • Strategic Partnerships – Cisco arrangements yielded additional 2015 subscription revenue • Strong pipeline in place – Announced the Tech Mahindra relationship • Pipeline development underway with Tech Mahindra team – Continue to develop additional strategic partners • Cost and Revenue – Completed spin from parent – Established G&A activity, installed corporate accounting and management reporting – Established Covisint “cost culture” – Rationalized organization – Rationalized facilities

5 FY16: Year of Execution • Continue to Build our Direct Sales Organization • Enhance Relationship with Current Strategic Partners and Develop Potential Strategic Partners • Improve Our Branding and Product Positioning in the Market • Continue to Enhance our Platform to Meet and Lead Market Demand

6 FY15: Non-GAAP Financial Overview Non-GAAP* Income Statement ($ in thousands, except per share) Q4FY15 Y/Y Q/Q FY15 Y/Y REVENUE Subscription 18,356 8% 17% 66,283 (1%) Services 5,101 (31%) (16%) 22,251 (27%) Total revenue 23,457 (4%) 8% 88,534 (9%) COST OF REVENUE 12,422 (8%) (2%) 50,712 4% GROSS PROFIT 11,035 1% 21% 37,822 (22%) Gross margin 47% 43% OPERATING EXPENSES Research and development 3,036 (30%) (17%) 13,749 (21%) Sales and marketing 7,082 (13%) 9% 30,200 3% General and administrative 3,124 (36%) (3%) 13,766 (25%) Total operating expenses 13,242 57,715 Operating Loss (2,207) (19,893) Other Income 15 69 Income (loss) before tax (2,192) (19,824) Income tax provision 33 112 NET INCOME (LOSS) (2,225) (19,936) Diluted EPS (0.06) (0.52) Guidance Summary FY16 Q1FY16 Subscription Revenue** 5% - 10% Flat Services Revenue** 10-15% of Total Revenue 10-15% of Total Revenue Net Income $(11) – (14) mil $(5) – (6) mil Free Cash Flow $(12) – (15) mil $(5) – (6) mil Total Shares Outstanding 40.5 mil 39.1 mil * Excludes the impact of stock compensation and the expensing of certain R&D costs (rather than capitalizing such costs) Highlights • Positive cash flow in Q4 2015 • ASR booking – $14.4 million for FY15 – 80% improvement vs. FY14 • Reduced run-rate expense by approximately $20 million • Investing in the future

Appendix

8 FY15: Non-GAAP Reconciliation Q4FY15 FY15 Cost of Revenue 22,428 66,404 Adjustments: Stock compensation expense 30 613 Cost of revenue–amortization of capitalized software 9,976 15,079 Cost of revenue, non-GAAP 12,422 50,712 Research and development 1,852 10,416 Adjustments: Capitalized internal software costs (1,210) (3,508) Stock compensation expense 26 175 Research and development, non-GAAP 3,036 13,749 Sales and marketing 7,812 32,593 Adjustments: Stock compensation expense 201 1,570 Amortization of customer relationship agreements 529 823 Sales and marketing, non-GAAP 7,082 30,200 Q4FY15 FY15 General and administrative 3,528 17,640 Adjustments: Stock compensation expense 404 3,874 General and Administrative, non-GAAP 3,124 13,766 Net income (loss) (12,181) (38,562) Adjustments: Capitalized internal software costs (1,210) (3,508) Stock compensation expense 661 6,232 Amortization of intangibles 10,505 15,902 Net income (loss), non-GAAP (2,225) (19,936) Diluted EPS (0.32) (1.01) Adjustments: Capitalized internal software costs (0.03) (0.09) Stock compensation expense 0.02 0.16 Amortization of intangibles 0.27 0.42 Diluted EPS, non-GAAP (0.06) (0.52) ($ in thousands, except per share)