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TechTarget Reports Third Quarter 2012 Financial Results

The Company’s balance sheet and financial position remain strong. As of September 30, 2012, the Company’s cash, cash equivalents and investments totaled $72.6 million, and the Company had no outstanding bank debt.

Recent Company Highlights

  • Bob Burke has joined the Board of Directors. Bob has over 35 years of experience in the technology industry and was most recently the CEO of Art Technology Group. Under his leadership, ATG became a leading e-commerce software provider and was successfully sold to Oracle for over $1 billion. Before ATG, Bob was CEO of Quidnunc, a privately-held web consultancy firm with headquarters in London. Before Quidnunc, Bob was President of ePresence Solutions (formerly Banyan Systems). Bob started his career at Digital Equipment Corporation, where his most recent position was general manager of its billion-dollar plus systems integration business with operations in over 45 countries. He is currently associated with Technology Crossover Ventures as a venture partner advisor to portfolio companies in the software and Internet sectors. Bob has a B.S. in Physics from Eastern Michigan University.
  • The Company’s first paid Activity Intelligence offering, Nurture and Notify™, continues to gain traction. This add-on service has been sold onto over 100 lead generation campaigns; feedback from customers has been very positive and renewal rates for campaigns with this offering are strong. The Company is developing a new suite of Activity Intelligence subscription products based on data mining the millions of data points that the Company manages in its data warehouse.
  • Geo-targeted revenues have grown over 50% in the first 3 quarters of 2012 versus the same period in 2011. Online geo-targeted revenues represented 22% of online revenue in the 3 rd quarter with excellent results both in EMEA and, especially, APAC, where the Company’s new direct operations in Singapore and Australia are contributing to growth. The number of customers conducting geo-targeted campaigns in Q3 was up 42% versus the same period a year ago.

Financial Guidance

In the fourth quarter of 2012, the Company expects total revenues to be within the range of $24.5 million to $25.7 million, online revenues within the range of $22.0 million to $23.0 million, events revenues within the range of $2.5 million to $2.7 million, and adjusted EBITDA to be within the range of $4.7 million to $5.4 million.

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