Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What's Happening: Shares of Interactive Intelligence (NASDAQ:ININ) surged on Tuesday after the company beat analyst estimates for both revenue and earnings when it reported first-quarter results. The stock was up as much as 15% soon after the market opened on Tuesday, settling down for a roughly 8% gain by 12:20 p.m.

Why It's Happening: Interactive Intelligence reported revenue of $89.5 million for the first quarter, a year-over-year increase of 13% and slightly higher than what analysts were expecting. Sixty-one percent of the company's revenue was recurring, including cloud subscriptions, which accounted for $21 million of revenue. Recurring revenue increased by 25% year-over-year, while cloud subscription revenue rose 61%.

Interactive Intelligence acquired 61 new customers during the first quarter, higher than the 54 new customers it added during the first quarter of 2014. Large contract signings, valued at over $250,000, rose to 40 during the quarter, up from 34 during the first quarter of 2014.

The company reported a non-GAAP loss of $0.04 per share, doubling the loss of $0.02 per share reported during the first quarter of 2014. However, this handily beat analyst estimates, which called for the company to lose $0.14 per share during the quarter. On a GAAP basis, Interactive Intelligence lost $0.16 per share, higher than the $0.12 loss posted during the first quarter of 2014.

Going forward, Interactive Intelligence expects strong growth to continue. The company expects cloud revenue to grow by 60% in 2015, with contracted annual recurring revenue expected to grow by 40%. Interactive Intelligence also raised its guidance for 2015 revenue to $385 million, representing 13% revenue growth. The company guided for a non-GAAP loss of $0.15 for the full year.