Bazaarvoice, Inc. Announces Its Financial Results For The Second Fiscal Quarter Of 2014

Highlights include:
  • Increased total revenue for the second quarter by 17.9% year-over-year to $45.5 million.  
  • Added 50 new active enterprise clients in the second quarter.

AUSTIN, Texas, Nov. 20, 2013 (GLOBE NEWSWIRE) -- Bazaarvoice, Inc. (Nasdaq:BV), the network connecting brands and retailers to the authentic voices of consumers wherever they shop, reported its financial results for the second fiscal quarter of 2014 ended October 31, 2013.

"We were pleased with the continuing growth of our active enterprise clients and the number of brands connecting to our platform during the second quarter," said Stephen Collins, Chief Executive Officer. "The combination of our expanding global network and our ability to provide deeper insights to both retailers and brands on their ecommerce ecosystems, positions the company well for future growth."

Second Fiscal Quarter of 2014 Financial Details

Revenue: Bazaarvoice reported revenue of $45.5 million for the second quarter of 2014, up 17.9% from the second quarter of 2013, which consisted of SaaS revenue of $44.2 million and net media revenue of $1.3 million.

Adjusted EBITDA: Adjusted EBITDA for the second quarter of 2014 was a loss of $3.1 million, compared to a loss of $4.0 million for the second quarter of 2013.

GAAP net loss and net loss per share: GAAP net loss was $14.2 million, compared to a GAAP net loss of $11.2 million for the second quarter of 2013. GAAP net loss per share was $0.19 based upon weighted average shares outstanding of 75.1 million, compared to $0.16 for the second quarter of 2013 based upon weighted average shares outstanding of 69.8 million.

Non-GAAP net loss and net loss per share: Non-GAAP net loss was $4.8 million, compared to a non-GAAP net loss of $4.9 million for the second quarter of 2013. Non-GAAP net loss per share was $0.06 based upon weighted average shares outstanding of 75.1 million, compared to $0.07 for the second quarter of 2013 based upon weighted average shares outstanding of 69.8 million.

Clients: The number of active enterprise clients at the end of the second quarter was 1,289, and the number of active network clients at the end of the second quarter was 1,918. Annualized SaaS revenue per average active enterprise client for the second quarter was approximately $140,000. Active enterprise client retention rate for the second quarter was approximately 96.8%.

Quarterly Conference Call

Bazaarvoice will host a conference call today at 5:00 p.m. Eastern Time to review the company's financial results for the second fiscal quarter of 2014 ended October 31, 2013. To access this call, dial (888) 208-1427 from the United States or (913) 312-0684 internationally with conference ID 7857573. A live webcast of the conference call can be accessed from the investor relations page of Bazaarvoice's company website at investors.bazaarvoice.com. Following the completion of the call, a recorded replay will be available on the company's website, and a telephone replay will be available through December 4, 2013 by dialing (877) 870-5176 from the United States or (858) 384-5517 internationally with recording access code 7857573.

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