This Day On The Street
Continue to site
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

ACTIVE Network Reports Second Quarter 2013 Financial Results

ACTIVE Network (NYSE: ACTV), the leader in cloud-based activity and participant management™ solutions, today announced its financial results for the second quarter ended June 30, 2013. The Company also announced today that it has formed a Strategic Transactions Committee to consider and evaluate strategic alternatives.

Q2 2013 Financial Highlights:

(All comparisons are made to the second quarter of 2012)
  • Total net revenue up 9% to $132.4 million.
  • Technology revenue increased 10% and constituted 90%, or $119.5 million, of total net revenue.
  • Net registration revenue increased 10% to $92.3 million; registrations grew 6% and revenue per registration up 4%.
  • Marketing services revenue constituted 10%, or $12.9 million, of total net revenue.
  • Net loss was $4.5 million, compared to net loss of $2.3 million.
  • Adjusted EBITDA, a non-GAAP financial measure, was $22.2 million. Excluding charges related to management changes, Adjusted EBITDA was $23.7 million, up 18%.

“I am pleased with our strong second quarter results - with revenues at the top end of our outlook range and Adjusted EBITDA exceeding the high end of our guidance,” said Jon Belmonte, Interim CEO of ACTIVE Network. “During the quarter, we commenced on a number of prioritization efforts designed to strengthen our financial performance and extend our market leadership position.”

“We believe our focus on operational efficiency will result in significant progress towards our future Adjusted EBITDA margin target of 23-27%,” said Scott Mendel, CFO of ACTIVE Network. “Our prioritization efforts drove strong margin accretion in the second quarter which we believe will continue, while helping position us for sustainable long-term growth.”

Q2 2013 Key Business Highlights
  • Marquee customer highlights included wins from Symantec™, SAS™ Institute, City of Mesa, AZ, YMCA™ of East Bay, CA, District of Cook County, IL, YMCA™ of Greater Kansas City, City of Carlsbad, CA Parks & Recreation, World Wrestling Camps™, Ann Arbor, MI Art Center and Rock–N-Glow™ 5Ks.
  • ACTIVE’s Conference™ solution powered a record number of large, complex technology events during the quarter including Cisco Live 2013, Adobe Max 2013, and Symantec Vision 2013, among others.
  • ACTIVE Network powered 200,000 games over 81-days during the United States Bowling Congress (USBC) 2013 Women's Championships held April 12 through June 30 in Reno, Nevada.
  • ACTIVE Network announced a strategic partnership with RaceHQ™ to support software solutions that help race directors build and deliver great events.

Financial Outlook

Third Quarter 2013 - For the third quarter of 2013, ACTIVE Network expects total revenue to be in the range of $113 million to $116 million. Registrations are expected to grow approximately 2% to 4% and revenue per registration is expected to grow approximately 1% to 4% compared to the same period in the prior year. The Company expects Adjusted EBITDA in the range of $15 million to $17 million, and a net loss of $9 million to $4 million.

Full Year 2013 - Total revenue is expected to be in the range of $451 million to $456 million and Adjusted EBITDA is expected to be in the range of $51 million to $54 million. Excluding charges in the second quarter of 2013 related to management changes, Adjusted EBITDA is expected to be in the range of $52.5 million to $55.5 million, an improvement from the Company’s previously issued Adjusted EBITDA outlook. The Company expects a net loss of $41 million to $35 million.

Formation of a Strategic Transactions Committee

Separately, the Company noted it has received expressions of interest from outside parties ranging from an investment in ACTIVE Network to an acquisition of the Company. As a result, ACTIVE Network announced today its Board of Directors has a committee in place to evaluate strategic alternatives.

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.58 -1.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs