Trulia and Market Leader add almost 5,900 subscribers in third
quarter; combined companies now provide the leading end-to-end platform
for the real estate industry
Total revenue for the third quarter of 2013 was $40.3 million, up 117%
Marketplace revenue of $24.8 million, up 96% year-over-year.1
Media revenue of $9.0 million, up 52% year-over-year. 1
Market Leader revenue of $6.5 million.
Net income attributable to common stockholders for the quarter was
$7.0 million, or $0.19 on a diluted basis, compared with a net loss of
$1.7 million, or $0.19 per share on a basic and diluted basis, in the
third quarter of 2012.
Adjusted EBITDA for the quarter was $4.8 million, compared with $0.3
million in the third quarter of 2012. Excluding the contribution from
Market Leader, Adjusted EBITDA for the quarter was $4.7 million.
Adjusted net income attributable to common stockholders for the
quarter was $18.4 million, or $0.49 per share on a diluted basis,
compared with an adjusted net loss of $0.9 million, or $0.10 per share
on a basic and diluted basis, in the third quarter of 2012.
SAN FRANCISCO--(BUSINESS WIRE)--
Trulia, Inc. (NYSE: TRLA), a leading online marketplace for homebuyers,
sellers, renters and real estate professionals, today announced
financial results for the third quarter ended September 30, 2013.
“Trulia and Market Leader now offer an unprecedented, end-to-end
marketing solution for real estate professionals, and we are already
seeing evidence of the rapid adoption of our platform by the industry,”
said Pete Flint, Chief Executive Officer of Trulia. “Trulia’s vibrant
marketplace for consumers and real estate professionals, combined with
Market Leader’s comprehensive operating system for the real estate
industry, enabled us to add almost 5,900 more subscribers this quarter –
the most we have ever added in a quarter. We now serve over 56,000
subscribers, by far the largest professional customer base in our
Beginning this quarter, Trulia and Market Leader will report their
quarterly results as a combined company, following the completion of
their merger on August 20, 2013. For the third quarter of 2013, Trulia
will present its consolidated financial results on a GAAP basis,
reflecting the stub period contribution from Market Leader from August
21, 2013, the date following the closing of the acquisition of Market
Leader, through the end of the third quarter. For illustrative purposes
and for ease of comparison with prior quarters, Trulia will also present
its financial results on a pro forma basis assuming contribution from
Market Leader for the entire third quarter of 2013.
Financial Highlights (reflecting contribution from Market
Leader from August 21, 2013 through the end of the third quarter of