Trulia, Inc. (NYSE: TRLA), a leading online marketplace for homebuyers, sellers, renters and real estate professionals, today announced financial results for the quarter ended September 30, 2012.
“In our first quarter as a public company, Trulia delivered record traffic and record revenue contributing to the Company’s first quarter of positive adjusted EBITDA,” said Pete Flint, Chief Executive Officer of Trulia. “Our ability to monetize our mobile traffic at rates higher than the web puts us in an advantageous position, as our industry continues to migrate to mobile. Additionally, our competitive advantage continues to grow as the Trulia community contributed unique insights at a record pace of one new piece of user-generated content every 10 seconds during the quarter.”
Third Quarter 2012 Financial Highlights
- Total revenue for the third quarter of 2012 was $18.5 million, an increase of 76% year-over-year.
- Net loss attributable to common stockholders for the quarter was $1.7 million, compared with $1.5 million in the third quarter of 2011.
- Adjusted EBITDA for the quarter was $0.3 million, compared with -$0.4 million in the third quarter of 2011. This marked Trulia’s first quarter of positive adjusted EBITDA.
- Raised net proceeds of $89.4 million from the Company’s initial public offering in September.
Key Business Metrics
- Average monthly unique visitors in the quarter were 24.9 million, an increase of 50% from 16.6 million in the same period last year.
- Mobile monthly unique visitors in the quarter were 5.8 million, an increase of 129% from 2.5 million in the same period last year.
- Total subscribers at the end of the quarter were 22,763, a 34% increase from 16,935 in the same period last year.
- Average monthly revenue per subscriber for the quarter was $154, a 45% increase from $106 in the same period last year.
- New contributions to user-generated content totaled approximately 842,000 during the quarter, a 68% increase from approximately 500,000 in the same period last year. At the end of the third quarter of 2012, this amounted to a cumulative total of more than six million pieces.
- Trulia Mobile Subscription Product Expansion: Trulia mobile subscription units were expanded to the Trulia iPad app and are now being served in the map view. Trulia also expanded the offering by launching a six-month subscription package.
- Commute Maps: Trulia rolled out its interactive Commute Maps, a way to visualize driving and public transit times to best help identify where you want to live in relation to where you commute everyday to work. Commute Maps are fully integrated into your home search along with Trulia’s crime maps, school maps and amenities.
- Expansion of Mobile Offering: Trulia launched the Trulia Real Estate App and the Trulia Rentals App for Amazon’s Kindle Fire HD introducing new apps for maps and location-based searching to take advantage of the Kindle Fire HD’s new features. Additionally, Trulia updated its Trulia Rentals app for Android Phones, and released a brand new rentals App for Android tablets.