Exhibit 99.1

 

FOR IMMEDIATE RELEASE LOGO

 

HomeAway, Inc. Reports Fourth Quarter and Full Year 2014 Financial Results

2014 total revenue of $446.8 million, up 28.9% year-over-year

2014 adjusted EBITDA of $119.3 million, up 23.4% year-over-year

2014 free cash flow of $117.1 million, up 25.9% year-over-year

Ending paid listings of approximately 1,043,000, up 17.2% year-over-year

Austin, Texas – February 24, 2015 – HomeAway, Inc. (NASDAQ: AWAY), the world’s leading online marketplace for the vacation rental industry, today reported its financial results for the fourth quarter and full year ended December 31, 2014.

Management Commentary

“We’ve had a terrific year, delivering strong financial results and meaningful improvements in the traveler experience on our sites.” says Brian Sharples, chief executive officer of HomeAway®. “HomeAway recently celebrated its tenth anniversary. Over the past decade, the company has experienced tremendous growth but what we’re most proud of is bringing friends and families together in vacation rentals around the globe. Yesterday we introduced some elements of our new global integrated marketing campaign centered on the joy of “a whole vacation.” The campaign focuses on the functional and emotional benefits HomeAway provides – the ability to travel with “the whole family” and stay together in “the whole house.” Over the coming years we look forward to introducing more travelers to the space and privacy that a whole house rental provides, and to building the most preferred brand in the vacation rental industry.”

Fourth Quarter 2014 Financial Highlights

 

    Total revenue increased 21.5% to $109.7 million from $90.3 million in the fourth quarter of 2013. On an FX neutral basis, year-over-year revenue growth was 25.3%. Growth in total revenue primarily reflected an increase in listings, an increase in average revenue per subscription listing as a result of tiered pricing and bundled product offerings, and the benefit of ancillary product and services revenue.

 

    Listing revenue increased 19.3% to $93.5 million from $78.4 million in the fourth quarter of 2013. On an FX neutral basis, year-over-year listing revenue growth was 23.5%.

 

    Other revenue, which is comprised of ancillary revenue from owners, managers, and travelers, advertising, software and other items, increased 36.3% to $16.2 million from $11.9 million in the fourth quarter of 2013. Growth in other revenue primarily reflected increased adoption of value-added owner, manager and traveler products.

 

    Net income attributable to HomeAway was $0.2 million, or $0.00 per diluted share, compared to net loss attributable to HomeAway of $1.6 million, or loss of $0.02 per diluted share, in the fourth quarter of 2013.

 

    Adjusted EBITDA increased 36.0% to $28.6 million from $21.0 million in the fourth quarter of 2013. As a percentage of revenue, adjusted EBITDA was 26.1% compared to 23.3% in the fourth quarter of 2013.

 

    Free cash flow decreased 0.6% to $23.3 million from $23.4 million in the fourth quarter of 2013.

 

    Non-GAAP net income was $15.2 million, or $0.16 per diluted share, compared to non-GAAP net income of $6.9 million, or $0.08 per diluted share, in the fourth quarter of 2013.

 

1


The following information was filed by Homeaway Inc (AWAY) on Tuesday, February 24, 2015 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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