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Active Network Inc (ACTV) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2013

Active Network Inc

CIK: 1163932 Ticker: ACTV

Exhibit 99.1

 

LOGO

ACTIVE Network Reports First Quarter 2013 Financial Results

 

   

First Quarter Revenue Increases 12% to $106.0 Million

 

   

Record First Quarter Adjusted EBITDA of $6.1 Million

 

   

Operating Cash Flow of $60.2 Million for the Quarter

SAN DIEGO, CALIF. – May 2, 2013

ACTIVE Network (NYSE: ACTV), the leader in cloud-based activity and participant management™ solutions, today announced its financial results for the first quarter ended March 31, 2013.

Q1 2013 Financial Highlights:

(All comparisons are made to the first quarter of 2012)

 

   

Total net revenue up 12% to $106.0 million.

 

   

Technology revenue increased 13% and constituted 90%, or $95.0 million, of total net revenue.

 

   

Net registration revenue increased 11% to $70.5 million - number of registrations flat; revenue per registration up 11%.

 

   

Marketing services revenue constituted 10%, or $11.0 million, of total net revenue.

 

   

Gross margins increased 230 basis points as a % of revenue to 52.6%.

 

   

Net loss was $15.2 million compared to net loss of $20.3 million.

 

   

Adjusted EBITDA, a non-GAAP financial measure, was $6.1 million.

“Our strong first quarter 2013 revenues and bottom line results demonstrate the Company’s ability to scale our infrastructure and deliver gross margin accretion,” said Scott Mendel, CFO of ACTIVE Network. “Cash flow for the quarter was very strong, reflecting our top line growth and following typical seasonal patterns. We remain focused on driving operational efficiency to capitalize on our large market opportunity and generate long-term growth.”

Q1 2013 Key Business Highlights

 

   

Marquee customer highlights included wins from YMCA Los Angeles, New Jersey Department of Environmental Protection, Two Cities Marathon, and Woodlands Marathon.

 

   

ACTIVE Network renewed exclusive multi-year contracts with well-known clients including Gartner, IRONMAN, Georgia State Parks and Recreation.Gov, which services the National Park Service, the National Forest Service, Bureau of Land Management, and the Army Corps of Engineers.

 

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The following information was filed by Active Network Inc (ACTV) on Thursday, May 2, 2013 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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Active Network Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:

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SEC Filing Tools
Ticker: ACTV
CIK: 1163932
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-13-199411
Submitted to the SEC: Fri May 03 2013 5:07:27 PM EST
Accepted by the SEC: Fri May 03 2013
Period: Sunday, March 31, 2013
Industry: Prepackaged Software

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