Active Network Inc (ACTV) 10-Q Quarterly Report November 2013

SAN DIEGO, CALIF. – October 30, 2013 – ACTIVE 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)

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Total net revenue up 8% to $117.5 million.

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Technology revenue increased 9% and constituted 89%, or $104.4 million, of total net revenue.

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Net registration revenue increased 9% to $79.0 million; registrations grew 6% and revenue per registration was up 2%.

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Marketing services revenue constituted 11%, or $13.1 million, of total net revenue.

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Net loss was $5.3 million, compared to net loss of $6.0 million.

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Adjusted EBITDA, a non-GAAP financial measure, was $16.4 million.

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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 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

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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.

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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.

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The following information was filed by Active Network Inc (ACTV) on Wednesday, October 30, 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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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Ticker: ACTV
CIK: 1163932
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-13-427873
Submitted to the SEC: Tue Nov 05 2013 4:58:02 PM EST
Accepted by the SEC: Tue Nov 05 2013
Period: Monday, September 30, 2013
Industry: Prepackaged Software