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|FOR IMMEDIATE RELEASE|
HomeAway, Inc. Reports Second Quarter 2015 Financial Results
|||Total revenue of $125.8 million, up 10.1% year-over-year (19.2% FX neutral)|
|||TTM free cash flow of $122.3 million, up 7.1% year-over-year|
|||Online bookable listings of approximately 594,000, up 96% year-over-year|
Austin, Texas August 4, 2015 HomeAway, Inc. (NASDAQ: AWAY), the worlds leading online marketplace for the vacation rental industry, today reported its financial results for the second quarter ended June 30, 2015.
Weve had another great quarter, delivering strong results at or above our expectations, says Brian Sharples, chief executive officer of HomeAway®. We are especially encouraged by the uptake of our online bookable listings, which grew to 50% of our inventory in the quarter and marks a significant milestone toward our 2016 goal to make nearly all of our listings online bookable.
Mr. Sharples continued, Another important accomplishment in the first half of the year was the launch of our integrated marketing campaign. Post-launch, we have experienced an acceleration in traffic growth and brand awareness. We have started building a solid foundation for our multi-year marketing effort and look forward to continuing to bring friends and families together in vacation rentals around the globe through our network of sites.
Second Quarter 2015 Financial Highlights
|||Total revenue increased 10.1% to $125.8 million from $114.3 million in the second quarter of 2014. On an FX neutral basis, year-over-year revenue growth was 19.2%. Growth in total revenue primarily reflected an increase in average revenue per subscription listing as a result of tiered pricing and bundled product offerings, the benefit of ancillary product and services revenue, and an increase in listings.|
|||Listing revenue increased 5.6% to $99.8 million from $94.5 million in the second quarter of 2014. On an FX neutral basis, year-over-year listing revenue growth was 16.0%.|
|||Other revenue, which is comprised of ancillary revenue from owners, managers, and travelers, advertising, software and other items, increased 31.9% to $26.0 million from $19.7 million in the second quarter of 2014. Growth in other revenue primarily reflected increased adoption of value-added owner, manager and traveler products.|
|||Net loss attributable to HomeAway was $2.4 million, or a loss of $0.03 per diluted share, compared to net income attributable to HomeAway of $3.9 million, or $0.04 per diluted share, in the second quarter of 2014.|
|||Adjusted EBITDA decreased 27.0% (decreased 17.6% FX neutral) to $24.1 million from $33.0 million in the second quarter of 2014. As a percentage of revenue, adjusted EBITDA was 19.1% compared to 28.9% in the second quarter of 2014. This change reflects a significant increase in investment in our global integrated marketing campaign, which launched in the first quarter of 2015.|
|||Free cash flow decreased 3.6% to $33.8 million from $35.0 million in the second quarter of 2014. On a trailing twelve month basis, free cash flow increased 7.1% to $122.3 million from $114.2 million in the comparable trailing twelve month period for the prior year.|
|||Non-GAAP net income was $11.5 million, or $0.12 per diluted share, compared to non-GAAP net income of $14.3 million, or $0.15 per diluted share, in the second quarter of 2014.|
The following information was filed by Homeaway Inc (AWAY) on Tuesday, August 4, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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