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Last10K.com | 10-Q Quarterly Report Fri Aug 02 2013
Exhibit 99.1
ACTIVE Network Reports Second Quarter 2013 Financial Results
| • | Record Second Quarter Revenue of $132.4 Million |
| • | Strong Second Quarter Adjusted EBITDA of $22.2 Million |
| • | Company Issues Improved Full Year 2013 Adjusted EBITDA Guidance |
SAN DIEGO, CALIF. – August 1, 2013 – ACTIVE Network (NYSE: ACTV), the leader in cloud-based activity and participant management™ solutions, today announced its financial results for the second quarter ended June 30, 2013. The Company also announced today that it has formed a Strategic Transactions Committee to consider and evaluate strategic alternatives.
Q2 2013 Financial Highlights:
(All comparisons are made to the second quarter of 2012)
| • | Total net revenue up 9% to $132.4 million. |
| • | Technology revenue increased 10% and constituted 90%, or $119.5 million, of total net revenue. |
| • | Net registration revenue increased 10% to $92.3 million; registrations grew 6% and revenue per registration up 4%. |
| • | Marketing services revenue constituted 10%, or $12.9 million, of total net revenue. |
| • | Net loss was $4.5 million, compared to net loss of $2.3 million. |
| • | Adjusted EBITDA, a non-GAAP financial measure, was $22.2 million. Excluding charges related to management changes, Adjusted EBITDA was $23.7 million up 18%. |
“I am pleased with our strong second quarter results – with revenues at the top end of our outlook range and Adjusted EBITDA exceeding the high end of our guidance,” said Jon Belmonte, Interim CEO of ACTIVE Network. “During the quarter, we commenced on a number of prioritization efforts designed to strengthen our financial performance and extend our market leadership position.”
“We believe our focus on operational efficiency will result in significant progress towards our future Adjusted EBITDA margin target of 23-27%,” said Scott Mendel, CFO of ACTIVE Network. “Our prioritization efforts drove strong margin accretion in the second quarter which we believe will continue, while helping position us for sustainable long-term growth.”
Q2 2013 Key Business Highlights
| • | Marquee customer highlights included wins from Symantec™, SAS™ Institute, City of Mesa, AZ, YMCA™ of East Bay, CA, District of Cook County, IL, YMCA™ of Greater Kansas City, City of Carlsbad, CA Parks & Recreation, World Wrestling Camps™, Ann Arbor, MI Art Center and Rock–N-Glow™ 5Ks. |
The following information was filed by Active Network Inc (ACTV) on Thursday, August 1, 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.
View differences made from one quarter to another to evaluate Active Network Inc's financial trajectory
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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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- Board Members
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SEC Filing Tools
Ticker: ACTV
CIK: 1163932
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-13-316025
Submitted to the SEC: Fri Aug 02 2013 6:20:13 AM EST
Accepted by the SEC: Fri Aug 02 2013
Period: Sunday, June 30, 2013
Industry: Prepackaged Software
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