The Active Network, Inc. (NYSE: ACTV), the leading provider of organization-based cloud computing applications, today announced its financial results for the fourth quarter and fiscal year 2011.
Q4 2011 Financial Highlights:
(All comparisons are made to the fourth quarter of 2010)
- Total net revenue was $76.0 million, up 23% from $61.6 million.
- Technology revenue constituted 86%, or $65.5 million of total net revenue, up 33% from $49.2 million.
- Marketing Services revenue constituted 14%, or $10.6 million of total net revenue.
- Loss from operations was $14.9 million compared to a loss of $8.9 million.
- Net loss was $8.5 million compared to a net loss of $9.1 million.
- Adjusted EBITDA, a non-GAAP financial measure, was $0.4 million, including $1.9 million in severance costs associated with the acquisition of StarCite. Excluding these costs, Adjusted EBITDA was $2.3 million.
Fiscal Year 2011 Financial Highlights:(All comparisons are made to fiscal year 2010)
- Total net revenue was $337.4 million, up 21% from $279.6 million.
- Technology revenue constituted 86%, or $290.5 million of total net revenue, up 22% from $237.7 million.
- Registrations grew 14% over the prior year period to 80.3 million and revenue per registration was $2.85.
- 51,300 organizations utilized the Company’s technology solutions, up 8%.
- Marketing Services revenue constituted 14%, or $46.9 million of total net revenue, up 12% from $41.9 million.
- Loss from operations narrowed to $16.6 million compared to a loss of $20.5 million.
- Net loss was $15.3 million compared to a net loss of $27.3 million.
- Adjusted EBITDA, a non-GAAP financial measure, increased 43% to $36.0 million, from $25.1 million.
- The Company ended the year with cash and cash equivalents of $108.7 million.
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