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TheStreet Open House

ACTIVE Network Reports Fourth Quarter And Fiscal Year 2012 Financial Results

Stock quotes in this article: ACTV

ACTIVE Network (NYSE: ACTV), the leader in cloud-based Activity and Participant Management™ (APM) solutions, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2012.

Q4 2012 Financial Highlights:

(All comparisons are made to the fourth quarter of 2011)

  • Total net revenue up 23% to $93.7 million.
  • Technology revenue increased 25% and constituted 88%, or $82.0 million, of total net revenue.
  • Net registration revenue increased 20% to $55.8 million with the number of registrations up 7% and the revenue per registration up 13%.
  • Marketing services revenue constituted 12%, or $11.6 million, of total net revenue.
  • Net loss was $14.3 million compared to a net loss of $8.5 million.
  • Adjusted EBITDA, a non-GAAP financial measure, was $5.9 million up from $0.4 million in 2011 (Adjusted EBITDA in 2011 included $1.9 million of severance costs associated with the acquisition of StarCite).

Fiscal Year 2012 Financial Highlights:

(All comparisons are made to fiscal year 2011)

  • Total net revenue up 24% to $418.9 million.
  • Technology revenue increased 28% and constituted 88%, or $370.5 million, of total net revenue.
  • Net registration revenue increased 21% to $275.8 million with the number of registrations up 12% and the revenue per registration up 8%.
  • Approximately 55,000 organizations utilized the Company’s technology solutions, up 7%.
  • Marketing services revenue constituted 12%, or $48.4 million, of total net revenue.
  • Net loss was $43.0 million compared to a net loss of $27.1 million.
  • Adjusted EBITDA, a non-GAAP financial measure, was $38.4 million. Excluding the impact of business combination accounting rules related to deferred revenue, Adjusted EBITDA was $50.8 million.

“In 2012, we achieved the key technology milestones we established at the beginning of the year. Our first Hunting and Fishing customer went live on our ActiveWorks® platform, we made strong progress in transitioning our Endurance customers onto ActiveWorks®, and we delivered on our data center consolidation targets. We continue to drive innovation and adoption of our horizontal ActiveWorks® platform,” commented Executive Chairman of ACTIVE Network, Dave Alberga.

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