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Points International Ltd. Reports Fourth Quarter And Record Full Year 2012 Financial Results

Stocks in this article: PCOM

  • 8 new partners announced or launched since start of 2012 and anticipated to contribute over $100 million in annualized revenues
  • Initiates 2013 revenue guidance of $200 - $220 million, representing year-over-year growth of 42% - 57%
  • Expects to exit 2013 at approximately $300 million annualized revenue run rate

TORONTO, March 6, 2013 (GLOBE NEWSWIRE) -- Points International Ltd. (TSX:PTS) (Nasdaq:PCOM), owner of the loyalty reward management program platform www.Points.com , today announced results for the fourth quarter and full year ended December 31, 2012.

"2012 was a transformational year for Points International," said Chief Executive Officer Rob MacLean. "We made significant strides this past year in expanding current partner relationships, launching innovative products and bringing additional marquee loyalty programs onto our platform. At the beginning of 2012, we highlighted an addressable pipeline, that when annualized, could contribute approximately $50 million in incremental revenue. Since that time, we've announced or launched relationships with Southwest Airlines, Wyndham Hotels, Melia Hotels, Aeroméxico, SVM, Speedway, and SUBA Games. We also kicked off 2013 with a strong start and are pleased to announce today a partnership with Finnair, whose loyalty members as of the end of this month will have the ability to buy and gift their Finnair Plus points.  Thus, since the start of 2012, Points has announced or launched 25 new products with 8 new partners that collectively are expected to contribute well over $100 million in annualized revenues."

"Ultimately, our success in 2012 has set the foundation for accelerated growth in 2013. Total 2013 revenues are forecasted to be in the range of $200 - $220 million, an increase of approximately 50% year-over-year. Driving this acceleration in top-line growth is continued organic growth within our existing business as well as the partial-year contribution from currently signed or announced new business slated to launch in 2013. While on a pre-investments basis, we would expect to deliver approximately $10-$13 million of EBITDA, we have made the strategic decision to re-invest a portion of our incremental profitability, in the range of $2-$3 million, to continue to drive innovation and expansion of our core business.  Notably, we will look to add enhanced mobile capabilities to our platform, expand our payment functionality, boost our data analytics, and invest in our open platform efforts."

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