This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Xoom Reports Second Quarter 2013 Results

- Revenue of $33.5 Million, increase of 59% from Q2 2012

- Gross Sending Volume of $1.61 Billion, increase of 82% from Q2 2012       

- 919,610 Active Customers, increase of 40% from Q2 2012

SAN FRANCISCO, July 24, 2013 (GLOBE NEWSWIRE) -- Xoom Corporation (Nasdaq:XOOM), a digital money transfer provider, today announced financial results for the second quarter of 2013:

  • Revenue for the second quarter was $33.5 million, an increase of 59% from the second quarter of 2012.  
  • Gross profit for the second quarter was $23.4 million, an increase of 72% from the second quarter of 2012.  
  • GAAP net income for the second quarter was $4.1 million, or $0.11 per diluted share, compared to a net loss of $1.6 million, or $0.32 per diluted share, for the second quarter of 2012.  
  • Adjusted EBITDA for the second quarter was $6.1 million, compared to a loss of $345,000 for the second quarter of 2012.  
  • Non-GAAP earnings per diluted share was $0.14, compared to a loss of $0.20 per diluted share for the second quarter of 2012.   
  • Cash, cash equivalents, disbursement prefunding and short-term investments were $166.9 million as of June 30, 2013, compared to $85.3 million as of December 31, 2012.  
  • Outstanding amounts due under the line of credit were $49.0 million as of June 30, 2013, compared to $40.0 million as of December 31, 2012. 

"We are pleased with our solid results driven by growth across all corridors, including strength from our India corridor," said John Kunze, president and chief executive officer, Xoom. "We believe our initiatives in providing customers the best-in-class money transfer service are paying off."

Operating Metrics

  • Gross sending volume for the quarter grew 82% to $1.61 billion from the second quarter of 2012.
  • Transactions for the quarter grew 57% to 2,582,000 from the second quarter of 2012.
  • Active customers for the quarter grew 40% to 919,610 from the second quarter of 2012.
  • New customers for the quarter grew 16% to 134,899 from the second quarter of 2012.

Highlights and Strategic Announcements

  • In May, Xoom announced a quick deposit service to India to provide customers with a fast and secure service. Customers can now deposit money to bank accounts in India within a breakthrough speed of four hours when sent during Indian banking hours.  
  • In June, Xoom announced a new Xoom Money Transfer App to provide customers a fast and simple method to send money on the go. The Xoom App is unique in its simplicity. With "one tap and one swipe" customers can complete a quick send to their recipients in just seconds.  
  • During the quarter, Xoom announced two initiatives to expand its reach in the Mexican and Indian communities.  -- In early May, Xoom announced Mexican radio personality Eddie "Piolín" Sotelo as an endorser for Xoom. Piolín stars in a series of television and radio commercials, advocating the convenience, security and speed of Xoom.  -- In late May, Xoom announced Indian superstar and trusted icon Amitabh Bachchan as its brand ambassador of Xoom's revolutionary four hour bank deposit to India.

Business Outlook

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs