ACTIVE Network Reports Third Quarter 2013 Financial Results
October 30, 2013
Third Quarter Revenue of $117.5 Million
Third Quarter Adjusted EBITDA of $16.4 Million
SAN DIEGO--(BUSINESS WIRE)--
Network (NYSE:ACTV), the leader in cloud-based activity and
participant management™ solutions, today announced its financial results
for the third quarter ended September 30, 2013.
Q3 2013 Financial Highlights:
(All comparisons are made to the third quarter of 2012)
Total net revenue up 8% to $117.5 million.
Technology revenue increased 9% and constituted 89%, or $104.4
million, of total net revenue.
Net registration revenue increased 9% to $79.0 million; registrations
grew 6% and revenue per registration was up 2%.
Marketing services revenue constituted 11%, or $13.1 million, of total
Net loss was $5.3 million, compared to net loss of $6.0 million.
Adjusted EBITDA, a non-GAAP financial measure, was $16.4 million.
Excluding charges related to transaction costs associated with ACTIVE
Network entering into a definitive agreement to be acquired by Vista
Equity Partners and management changes, Adjusted EBITDA was $19.5
million, up 27%.
“I am very pleased with our third quarter results,” said Jon Belmonte,
Interim CEO of ACTIVE Network. “During the quarter, we entered into a
definitive agreement to be acquired by Vista Equity Partners, which we
believe will be a very positive event for stockholders and will help
position us to further capitalize on the market opportunity.”
Q3 2013 Key Business Highlights
Marquee customer highlights included wins from Run or Dye, Kentucky
Derby Festival Marathon, Monterey County Parks (CA), Arkansas State
Parks, and Informatica World 2014 and 2015.
ACTIVE Network launched a new version of ACTIVE RegOnline™, the
Company's entry-level online event-management solution. The new ACTIVE
RegOnline makes it easier for event planners from Small and Mid-sized
Businesses (SMBs) and associations, to plan, promote, and manage
events of all sizes.
ACTIVE Network saw a 5% increase in summer camping across U.S. Federal
parks, 30+ states, and regional and private partners. Through ReserveAmerica.com,
ACTIVE Network provides consumers with the ability to search and
reserve from more than 210,000 campsites.