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TechTarget Reports Second Quarter 2011 Financial Results

Stocks in this article: TTGT

The Company’s balance sheet and financial position remain strong. As of June 30, 2011, the Company’s cash, cash equivalents and investments totaled $54.4 million, working capital is $45.2 million, and the Company has no outstanding bank debt.

Recent Company Highlights

  • Announced a major upgrade to its Activity Intelligence suite of products and services; TechTarget’s new Activity Intelligence Dashboard gives marketers and sales representatives an industry-changing view of their prospects with Enhanced Contact Profiles™ and Account Intelligence™ activity details including insights on the research activities of technology buying teams across entire companies.
  • Announced the TechTarget Engage™ portfolio, which includes both demand and brand-focused offerings that accelerate IT user interaction with key marketer content assets, such as white papers, videos and webcasts. The TechTarget Engage solutions also provide opportunities for the integration of key social streams and communities.
  • Announced alliance with RapidBuyr, the only national and local daily deals site specifically for small and mid-sized businesses, to provide daily deals on business products and services to TechTarget members. Under the initial terms of the alliance, TechTarget will be RapidBuyr’s exclusive partner in the business-to-business (BtoB) technology media segment.
  • Recognized for the 5 th time by The Boston Business Journal as one of the Best Places to Work in Massachusetts. The honor recognizes TechTarget’s achievements in creating a positive work environment that attracts and retains employees through a combination of employee satisfaction, working conditions and company culture. Other companies recognized in this year’s list include; Accenture, Comcast, Digitas, and Microsoft.

Financial Guidance

In the third quarter of 2011, the Company expects total revenues to be within the range of $25.3 million to $26.7 million; online revenues within the range of $21.5 million to $22.5 million; events revenues within the range of $3.8 million to $4.2 million and adjusted EBITDA to be within the range of $5.0 million to $6.0 million. When compared to the third quarter of 2010, these expected results translate into total revenue growth of approximately 15% to 21% and adjusted EBITDA growth of 29% to 55% for the third quarter of 2011.

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