ACTIVE Network (NYSE:ACTV), the leader in cloud-based activity and participant management™ solutions, today announced its financial results for the third quarter ended September 30, 2013.
Q3 2013 Financial Highlights:
(All comparisons are made to the third quarter of 2012)
- Total net revenue up 8% to $117.5 million.
- Technology revenue increased 9% and constituted 89%, or $104.4 million, of total net revenue.
- Net registration revenue increased 9% to $79.0 million; registrations grew 6% and revenue per registration was up 2%.
- Marketing services revenue constituted 11%, or $13.1 million, of total net revenue.
- Net loss was $5.3 million, compared to net loss of $6.0 million.
- Adjusted EBITDA, a non-GAAP financial measure, was $16.4 million.
- Excluding charges related to transaction costs associated with ACTIVE Network entering into a definitive agreement to be acquired by Vista Equity Partners and management changes, Adjusted EBITDA was $19.5 million, up 27%.
“I am very pleased with our third quarter results,” said Jon Belmonte, Interim CEO of ACTIVE Network. “During the quarter, we entered into a definitive agreement to be acquired by Vista Equity Partners, which we believe will be a very positive event for stockholders and will help position us to further capitalize on the market opportunity.”Q3 2013 Key Business Highlights
- Marquee customer highlights included wins from Run or Dye, Kentucky Derby Festival Marathon, Monterey County Parks (CA), Arkansas State Parks, and Informatica World 2014 and 2015.
- ACTIVE Network launched a new version of ACTIVE RegOnline™, the Company's entry-level online event-management solution. The new ACTIVE RegOnline makes it easier for event planners from Small and Mid-sized Businesses (SMBs) and associations, to plan, promote, and manage events of all sizes.
- ACTIVE Network saw a 5% increase in summer camping across U.S. Federal parks, 30+ states, and regional and private partners. Through ReserveAmerica.com, ACTIVE Network provides consumers with the ability to search and reserve from more than 210,000 campsites.