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

Highlights include:
  • Total revenue increased 12% year-over-year to $48 million
  • Network impressions increased 51% to approximately 66 billion

AUSTIN, Texas, March 4, 2014 (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 third fiscal quarter of 2014 ended January 31, 2014.

"I am very pleased with our strong third quarter performance which was highlighted by our ability to exceed both revenue and earnings expectations as we continued to see operational improvements across the organization," said Gene Austin, chief executive officer and president. "I believe we have the right management team in place to execute our strategic objectives leading to increased revenue growth rates sometime during fiscal 2015."

Third Fiscal Quarter of 2014 Financial Details

Revenue: Bazaarvoice reported revenue of $48.0 million for the third quarter of 2014, up 12% from the third quarter of 2013, which consisted of SaaS revenue of $45.0 million and net media revenue of $3.0 million.

Adjusted EBITDA: Adjusted EBITDA for the third quarter of 2014 was a loss of $1.2 million, compared to a loss of $5.5 million for the third quarter of 2013.

GAAP net loss and net loss per share: GAAP net loss was $8.0 million, compared to a GAAP net loss of $10.8 million for the third quarter of 2013. GAAP net loss per share was $0.10 based upon weighted average shares outstanding of 76.1 million, compared to $0.15 for the third quarter of 2013 based upon weighted average shares outstanding of 71.9 million.

Non-GAAP net loss and net loss per share: Non-GAAP net loss was $2.8 million, compared to a non-GAAP net loss of $4.1 million for the third quarter of 2013. Non-GAAP net loss per share was $0.04 based upon weighted average shares outstanding of 76.1 million, compared to $0.06 for the third quarter of 2013 based upon weighted average shares outstanding of 71.9 million.

Clients: The number of active enterprise clients at the end of the third quarter was 1,308 and the number of active network clients at the end of the third quarter was over 2,000. Annualized SaaS revenue per average active enterprise client for the third quarter was approximately $139,000. Active enterprise client retention rate for the third quarter was approximately 96%.

Quarterly Conference Call

Bazaarvoice will host a conference call today at 4:30 p.m. Eastern Time to review the company's financial results for the third fiscal quarter of 2014 ended January 31, 2014. To access this call, dial (888) 318-7469 from the United States or (719) 325-2214 internationally with conference ID 8751175. 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 March 18, 2014 by dialing (877) 870-5176 from the United States or (858) 384-5517 internationally with recording access code 8751175.

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