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Active Network Inc (ACTV) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2012

Active Network Inc

CIK: 1163932 Ticker: ACTV

Exhibit 99.1

 

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ACTIVE Network Reports Second Quarter 2012 Results

 

   

Record Second Quarter Revenue Increases 23% Year-Over-Year to $121.6 Million

 

   

Year-to-Date Revenue Up 26% Over the Prior Year Period to $216.0 Million

 

   

Number of Registrations Increases 14% Year-Over-Year to 28.0 Million

SAN DIEGO, CALIF. – August 2, 2012

ACTIVE Network (NYSE: ACTV), the leader in cloud-based activity and participant management™ solutions, today announced its financial results for the second quarter of 2012.

Q2 2012 Financial Highlights:

(All comparisons are made to the second quarter of 2011)

 

   

Total net revenue was $121.6 million, up 23% from $99.0 million.

 

   

Technology revenue constituted 89%, or $108.2 million of total net revenue, up 26% from $85.6 million.

 

   

Net registration revenue was $83.9, up 20% - including registration growth of 14% and revenue per registration growth of 5%.

 

   

Marketing services revenue constituted 11%, or $13.4 million of total net revenue.

 

   

Net loss was $2.3 million compared to a net income of $5.5 million.

 

   

Adjusted EBITDA, a non-GAAP financial measure, was $20.2 million. Excluding the impact of business combination accounting rules related to deferred revenue, Adjusted EBITDA was $23.8 million.

“We delivered a strong second quarter with record revenue of $121.6 million, up 23% over the prior year period,” said Dave Alberga, CEO of ACTIVE Network. “During the quarter, we achieved an important technology milestone by launching the first Hunting and Fishing permitting application built on the ACTIVE Works® platform. Our customer base continues to expand, adding key customers such as Aetna, MacWorld, and Edinburgh University Sports Union. We remain focused on strengthening our position as the leading cloud-based provider of activity and participant management solutions and continue to increase penetration in the underdeveloped activities market.”

“We are excited to see positive trends in our key metrics this quarter as registrations, one of our main drivers, accelerated 14% and revenue per registration grew 5% from the prior year period,” explained Scott Mendel, CFO of ACTIVE Network. “We experienced growth across all verticals and continued to benefit from a high degree of predictability in our model and strong renewal rates of over 95%.”

 

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The following information was filed by Active Network Inc (ACTV) on Thursday, August 2, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
Ticker: ACTV
CIK: 1163932
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-12-342321
Submitted to the SEC: Wed Aug 08 2012 6:18:08 AM EST
Accepted by the SEC: Wed Aug 08 2012
Period: Saturday, June 30, 2012
Industry: Prepackaged Software

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