Exhibit 99.1
ACTIVE Network Reports Third Quarter 2012 Financial Results
• | Third Quarter Revenue Increases 22% to $109.2 Million |
• | Year-to-Date Revenue Up 24% to $325.2 Million |
• | Third Quarter Adjusted EBITDA $15.4 Million |
SAN DIEGO, CALIF. – November 1, 2012 –ACTIVE Network (NYSE: ACTV), the leader in cloud-based Activity and Participant Management™ (APM) solutions, today announced its financial results for the third quarter ended September 30, 2012.
Q3 2012 Financial Highlights:
(All comparisons are made to the third quarter of 2011)
• | Total net revenue up 22% to $109.2 million. |
• | Technology revenue increased 26% and constituted 88%, or $96.2 million, of total net revenue. |
• | Net registration revenue increased 19% to $72.7 million with the number of registrations up 7% and the revenue per registration up 11%. |
• | Marketing services revenue constituted 12%, or $13.0 million, of total net revenue. |
• | Net loss was $6.0 million compared to a net loss of $1.4 million. |
• | Adjusted EBITDA, a non-GAAP financial measure, was $15.4 million. Excluding the impact of business combination accounting rules related to deferred revenue, Adjusted EBITDA was $18.0 million, up 40%. |
“We delivered strong third quarter results and continued to make progress expanding our customer base, driving innovation in our horizontal ActiveWorks® platform and penetrating new markets,” said Matt Landa, CEO of ACTIVE Network. “We added a number of new high profile customers, including NYSE Euronext, the Philadelphia Zoo, and The PGA of America. Additionally, we expanded our presence in the Outdoors market with the addition of Saskatchewan and Puerto Rico, who have agreed to implement our ActiveWorks® platform to automate their respective hunting and fishing permitting operations.”
ACTIVE Network Executive Chairman, Dave Alberga, stated, “Looking ahead, we believe the organizational changes we recently implemented will help leverage the exceptional talent we have at ACTIVE, expand our capabilities and drive long-term growth. Our team will be laser focused on product innovation and sales execution.”
Q3 2012 Key Business Highlights
• | The NYSE EURONEXT selected ACTIVE to manage its corporate events with its leading event management solution. |
• | ACTIVE entered into a partnership with The PGA of America to create a new online registration system for the PGA’s nationwide “Get Golf Ready” campaign, which will allow PGA Professionals to promote their golf camps, tournaments and clinics via PGA.com and ACTIVE.com. |
• | The Company announced that the Philadelphia Zoo has chosen its resorts and attractions technology solution to power its Zoo operations—from ticketing and point of sale to food and beverage sales. |
Financial Outlook
Fourth Quarter 2012—For the fourth quarter of 2012, ACTIVE Network expects total revenue to be in the range of $93 million to $97 million. Registrations are expected to grow approximately 5% to 10% and revenue per registration is expected to grow approximately 8% to 10% compared to the same period in the prior year. The Company expects Adjusted EBITDA in the range of $5 million to $7 million. Excluding the impact of business combination accounting rules, Adjusted EBITDA is expected to be in the range of $6.6 million to $8.6 million. The Company expects a net loss of $18 million to $13 million.
Full Year 2012—For full year 2012, ACTIVE Network expects total revenue to be in the range of $418 million to $422 million. Registrations are expected to grow approximately 11% to 13% and revenue per registration is expected to grow approximately 6% to 8% compared to last year. The Company expects Adjusted EBITDA in the range of $37.5 million to $39.5 million. Excluding the impact of business combination accounting rules, Adjusted EBITDA is expected to be in the range of $50 million to $52 million. The Company expects a net loss of $47 million to $42 million.
Full Year 2013—ACTIVE Network also introduced initial financial guidance for full year 2013. Total revenue is expected to be in the range of $470 million to $480 million and Adjusted EBITDA is expected to be in the range of $50 million to $54 million. The Company expects a net loss of $38 million to $31 million.
“We delivered strong third quarter revenue growth of 22%, gross margins expanded 110 basis points to 56.6% and Adjusted EBITDA came in at $15.4 million,” said Scott Mendel, CFO of ACTIVE Network. “Based on our year-to-date financial results and assumptions for the balance of the year, we believe it is appropriate to provide our 2013 forecast for revenue and Adjusted EBITDA at this time. Our outlook assumes overall growth rates of 12% to 14%, which is comparable to our expectations for 2012.”
Conference Call Information
ACTIVE Network will host a conference call to discuss third quarter 2012 results today at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). The conference call dial-in number is (866) 788-0546 for domestic participants and (857) 350-1684 for international participants. A live webcast of the conference call will also be available and can be accessed within the investor relations section of the ACTIVE Network corporate website at: http://investors.ACTIVEnetwork.com.
A replay of the call will be available starting at 7:00 p.m. Eastern Time (4:00 p.m. Pacific Time) on November 1, 2012 through 11:59 p.m. Eastern Time (8:59 p.m. Pacific Time) on November 8, 2012. To listen to the replay, dial (888) 286-8010 or (617) 801-6888 outside of the United States and use the passcode 83008684. The replay will also be available via webcast at:http:/investors.activenetwork.com/.
About ACTIVE Network
ACTIVE Network (NYSE: ACTV) is on a mission to make the world a more active place. With deep expertise in Activity and Participant Management™ (APM), our ACTIVE Works® cloud technology helps organizations transform and grow their businesses. We do this throughtechnology solutions that power the world’s activities, as well as online destinations such asACTIVE.com® that connect people with the things they love to do. Serving over 50,000 global business customers and driving over 80 million transactions annually, we help organizations get participants, manage their events and build communities. ACTIVE Network is headquartered in San Diego, California and has over 30 offices worldwide. Learn more atACTIVEnetwork.com orACTIVE.com and engage with us on Twitter@ACTIVEnetwork,@ACTIVE and onFacebook.
Note With Respect to Non-GAAP Financial Measures
In addition to using GAAP financial results, the Company’s management measures and reports non-GAAP financial measures, including Adjusted EBITDA, Non-GAAP net income (loss) and Non-GAAP net income (loss) per share. The most directly comparable GAAP financial results for these non-GAAP financial measures are Net income (loss), Net income (loss) and Net income (loss) per share, respectively. Management uses these non-GAAP financial measures to evaluate the Company’s performance and operations. Management also uses these non-GAAP financial measures for business
planning, to evaluate acquisition opportunities and as a measurement to create incentives and to compensate the Company’s management team. In addition, management believes the exclusion or inclusion of certain amounts in calculating these non-GAAP financial measures can provide a useful measure to investors for period-to-period comparisons. These non-GAAP financial measures, however, should be used in addition to, and in conjunction with, the Company’s financial results presented in accordance with GAAP. The Company strongly encourages investors to review its financial statements in their entirety and to not rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare the Company’s results with other companies’ non-GAAP financial measures having the same or similar names. Please see Reconciliation of GAAP to Non-GAAP Results below for a reconciliation of our GAAP to non-GAAP financial measures.
Forward-Looking Statements
The Active Network, Inc. cautions you that the statements included in this press release that are not a description of historical facts are forward-looking statements within the meaning of the federal securities laws. Any such statements are subject to substantial risks and uncertainties, including the Company’s ability to generate revenue and control expenses in order to achieve and maintain profitability, the Company’s ability to maintain an adequate rate of growth, including growing its registrations and revenue from registrations, and the Company’s ability to successfully manage its acquisitions and investments in businesses, applications and technologies, as well as the other risks detailed from time to time in the reports it files with the Securities and Exchange Commission. As a result of these risks and uncertainties, the Company’s actual results may differ materially from those expressed in any forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
THE ACTIVE NETWORK, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2012 | 2011 | 2012 | 2011 | |||||||||||||
Net Revenue: | ||||||||||||||||
Technology revenue | $ | 96,170 | $ | 76,341 | $ | 288,445 | $ | 225,002 | ||||||||
Marketing services revenue | 13,049 | 13,287 | 36,776 | 36,343 | ||||||||||||
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Total net revenue | 109,219 | 89,628 | 325,221 | 261,345 | ||||||||||||
Cost of net revenue: | ||||||||||||||||
Cost of technology revenue | 45,571 | 38,291 | 142,038 | 109,986 | ||||||||||||
Cost of marketing services revenue | 1,826 | 1,599 | 5,257 | 4,241 | ||||||||||||
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Total cost of net revenue | 47,397 | 39,890 | 147,295 | 114,227 | ||||||||||||
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Gross profit | 61,822 | 49,738 | 177,926 | 147,118 | ||||||||||||
Operating expenses: | ||||||||||||||||
Sales and marketing | 24,154 | 17,116 | 73,462 | 52,970 | ||||||||||||
Research and development | 20,624 | 17,628 | 62,954 | 50,181 | ||||||||||||
General and administrative | 15,862 | 11,737 | 49,309 | 34,633 | ||||||||||||
Amortization of intangibles | 5,492 | 3,669 | 16,780 | 11,090 | ||||||||||||
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Total operating expenses | 66,132 | 50,150 | 202,505 | 148,874 | ||||||||||||
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Loss from operations | (4,310 | ) | (412 | ) | (24,579 | ) | (1,756 | ) | ||||||||
Interest income | 23 | 32 | 73 | 91 | ||||||||||||
Interest expense | (239 | ) | (109 | ) | (480 | ) | (2,799 | ) | ||||||||
Other income (expense), net | 486 | (33 | ) | 1,363 | 109 | |||||||||||
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Loss before provision for income taxes | (4,040 | ) | (522 | ) | (23,623 | ) | (4,355 | ) | ||||||||
Provision for income taxes | 1,982 | 910 | 5,062 | 2,490 | ||||||||||||
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Net loss | (6,022 | ) | (1,432 | ) | (28,685 | ) | (6,845 | ) | ||||||||
Accretion of redeemable convertible preferred stock | — | — | — | (11,810 | ) | |||||||||||
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Net loss attributable to common stockholders | $ | (6,022 | ) | $ | (1,432 | ) | $ | (28,685 | ) | $ | (18,655 | ) | ||||
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Net loss per share attributable to common stockholders: | ||||||||||||||||
Basic and diluted | $ | (0.10 | ) | $ | (0.03 | ) | $ | (0.49 | ) | $ | (0.62 | ) | ||||
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Weighted-average shares used to compute net loss per share attributable to common stockholders: | ||||||||||||||||
Basic and diluted | 59,444 | 53,701 | 58,259 | 29,993 | ||||||||||||
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THE ACTIVE NETWORK, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
September 30, 2012 | December 31, 2011 | |||||||
(Unaudited) | ||||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 78,499 | $ | 108,699 | ||||
Restricted cash | 875 | 1,502 | ||||||
Accounts receivable, net | 73,806 | 66,469 | ||||||
Inventories | 3,493 | 1,662 | ||||||
Prepaid expenses and other current assets | 8,653 | 6,179 | ||||||
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Total current assets | 165,326 | 184,511 | ||||||
Property and equipment, net | 35,042 | 33,830 | ||||||
Software development costs, net | 50,464 | 45,093 | ||||||
Goodwill | 244,108 | 243,320 | ||||||
Intangible assets, net | 69,648 | 90,340 | ||||||
Other long-term assets | 2,310 | 2,133 | ||||||
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Total assets | $ | 566,898 | $ | 599,227 | ||||
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Liabilities and stockholders’ equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 8,063 | $ | 8,516 | ||||
Registration fees payable | 72,657 | 72,405 | ||||||
Accrued expenses | 43,766 | 41,106 | ||||||
Deferred revenue | 68,965 | 54,919 | ||||||
Current portion of long-term debt | — | 5,000 | ||||||
Capital lease obligations, current portion | 1,723 | 3,317 | ||||||
Other current liabilities | 4,017 | 42,613 | ||||||
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Total current liabilities | 199,191 | 227,876 | ||||||
Capital lease obligations, net of current portion | 1,028 | 1,652 | ||||||
Other long-term liabilities | 6,149 | 6,147 | ||||||
Deferred tax liability | 20,047 | 16,913 | ||||||
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Total liabilities | 226,415 | 252,588 | ||||||
Stockholders’ equity: | ||||||||
Common stock | 62 | 58 | ||||||
Treasury stock | (11,959 | ) | (11,959 | ) | ||||
Additional paid-in capital | 646,954 | 625,875 | ||||||
Accumulated other comprehensive income | 9,369 | 7,923 | ||||||
Accumulated deficit | (303,943 | ) | (275,258 | ) | ||||
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Total stockholders’ equity | 340,483 | 346,639 | ||||||
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Total liabilities and stockholders’ equity | $ | 566,898 | $ | 599,227 | ||||
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THE ACTIVE NETWORK, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Nine Months Ended September 30, | ||||||||
2012 | 2011 | |||||||
Operating activities | ||||||||
Net loss | $ | (28,685 | ) | $ | (6,845 | ) | ||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||
Depreciation and amortization of property and equipment | 23,995 | 17,344 | ||||||
Amortization of intangible assets | 21,132 | 15,310 | ||||||
Stock-based compensation expense | 11,992 | 4,782 | ||||||
Deferred tax liability | 3,046 | 1,824 | ||||||
Other non-cash items | (2,431 | ) | 380 | |||||
Change in operating assets and liabilities, net of effect of acquisitions: | ||||||||
Restricted cash | 627 | — | ||||||
Accounts receivable | (6,757 | ) | (27,223 | ) | ||||
Inventories | (1,831 | ) | (1,102 | ) | ||||
Prepaid expenses and other assets | (2,692 | ) | (396 | ) | ||||
Accounts payable and accrued expenses | 3,416 | 2,925 | ||||||
Registration fees payable | 252 | 35,505 | ||||||
Deferred revenue | 13,914 | 18,089 | ||||||
Other liabilities | 1,170 | 3,146 | ||||||
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Net cash provided by operating activities | 37,148 | 63,739 | ||||||
Investing activities | ||||||||
Purchases of property and equipment | (12,665 | ) | (8,991 | ) | ||||
Capitalized software development | (17,194 | ) | (13,898 | ) | ||||
Cash paid for acquisitions, net of cash acquired | (38,037 | ) | (4,082 | ) | ||||
Payment of contingent consideration | — | (625 | ) | |||||
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Net cash used in investing activities | (67,896 | ) | (27,596 | ) | ||||
Financing activities | ||||||||
Proceeds from issuance of common stock and repurchase of unvested common stock | 9,247 | 3,059 | ||||||
Payments on capital lease obligations | (3,552 | ) | (2,207 | ) | ||||
Proceeds from long-term debt | 5,000 | — | ||||||
Repayment of long-term debt | (10,000 | ) | (41,628 | ) | ||||
Net proceeds from initial public offering | — | 112,566 | ||||||
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Net cash provided by financing activities | 695 | 71,790 | ||||||
Effect of exchange rates on cash | (147 | ) | (351 | ) | ||||
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Net (decrease) increase in cash and cash equivalents | (30,200 | ) | 107,582 | |||||
Cash and cash equivalents at beginning of period | 108,699 | 31,441 | ||||||
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Cash and cash equivalents at end of period | $ | 78,499 | $ | 139,023 | ||||
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THE ACTIVE NETWORK, INC.
SUPPLEMENTARY DATA
(In thousands, except revenue per registration)
(Unaudited)
Three Months Ended September 30, | % | Nine Months Ended September 30, | % | |||||||||||||||||
2012 | 2011 | change | 2012 | 2011 | change | |||||||||||||||
Operational Data: | ||||||||||||||||||||
Net registration revenue | $ | 72,703 | $ | 60,893 | 19% | $ | 220,076 | $ | 182,067 | 21% | ||||||||||
Registrations | 25,207 | 23,513 | 7% | 71,466 | 62,969 | 13% | ||||||||||||||
Net registration revenue per registration | $ | 2.88 | $ | 2.59 | 11% | $ | 3.08 | $ | 2.89 | 7% | ||||||||||
Three Months Ended September 30, | % or bps | Nine Months Ended September 30, | % or bps | |||||||||||||||||
2012 | 2011 | change | 2012 | 2011 | change | |||||||||||||||
GAAP and Non-GAAP Gross Profit Margin: | ||||||||||||||||||||
Total net revenue | $ | 109,219 | $ | 89,628 | 22% | $ | 325,221 | $ | 261,345 | 24% | ||||||||||
Add: impact of business combination accounting rules | 2,593 | 183 | 10,861 | 768 | ||||||||||||||||
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Non-GAAP total net revenue | $ | 111,812 | $ | 89,811 | 24% | $ | 336,082 | $ | 262,113 | 28% | ||||||||||
GAAP gross profit | $ | 61,822 | $ | 49,738 | 24% | $ | 177,926 | $ | 147,118 | 21% | ||||||||||
Add back: stock-based compensation | 222 | 52 | 474 | 107 | ||||||||||||||||
Add back: depreciation & amortization | 8,060 | 5,897 | 23,728 | 16,796 | ||||||||||||||||
Add: impact of business combination accounting rules | 2,593 | 183 | 10,861 | 768 | ||||||||||||||||
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Non-GAAP gross profit | $ | 72,697 | $ | 55,870 | 30% | $ | 212,989 | $ | 164,789 | 29% | ||||||||||
Gross profit margin: | ||||||||||||||||||||
GAAP gross profit margin | 56.6 | % | 55.5 | % | 110 bps | 54.7 | % | 56.3 | % | (160) bps | ||||||||||
Non-GAAP gross profit margin | 65.0 | % | 62.2 | % | 280 bps | 63.4 | % | 62.9 | % | 50 bps | ||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||
2012 | 2011 | 2012 | 2011 | |||||||||||||||||
Stock-Based Compensation Expense: | ||||||||||||||||||||
Cost of net revenue | $ | 222 | $ | 52 | $ | 474 | $ | 107 | ||||||||||||
Sales and marketing | 1,007 | 277 | 2,709 | 1,040 | ||||||||||||||||
Research and development | 662 | 315 | 1,782 | 636 | ||||||||||||||||
General and administrative | 2,770 | 1,326 | 7,027 | 2,999 | ||||||||||||||||
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Total stock-based compensation | $ | 4,661 | $ | 1,970 | $ | 11,992 | $ | 4,782 | ||||||||||||
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THE ACTIVE NETWORK, INC.
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
(In thousands, except per share data)
(Unaudited)
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2012 | 2011 | 2012 | 2011 | |||||||||||||
Non-GAAP Earnings: | ||||||||||||||||
Non-GAAP net (loss) income: | ||||||||||||||||
GAAP net loss | $ | (6,022 | ) | $ | (1,432 | ) | $ | (28,685 | ) | $ | (6,845 | ) | ||||
Add back: stock-based compensation | 4,661 | 1,970 | 11,992 | 4,782 | ||||||||||||
Add back: amortization of intangibles | 6,900 | 5,063 | 21,132 | 15,310 | ||||||||||||
Add: impact of business combination accounting rules | 2,593 | 183 | 10,861 | 768 | ||||||||||||
Income tax effect | (4,954 | ) | (2,526 | ) | (15,395 | ) | (7,301 | ) | ||||||||
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Non-GAAP net (loss) income | $ | 3,178 | $ | 3,258 | $ | (95 | ) | $ | 6,714 | |||||||
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Non-GAAP shares: | ||||||||||||||||
GAAP shares—basic | 59,444 | 53,701 | 58,259 | 29,993 | ||||||||||||
Add: preferred stock conversion | — | — | — | 18,267 | ||||||||||||
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Non-GAAP shares—basic | 59,444 | 53,701 | 58,259 | 48,260 | ||||||||||||
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GAAP shares—diluted | 59,444 | 53,701 | 58,259 | 29,993 | ||||||||||||
Add: preferred stock and other securities conversion | 5,264 | 9,124 | 6,526 | 27,433 | ||||||||||||
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Non-GAAP shares—diluted | 64,708 | 62,825 | 64,785 | 57,426 | ||||||||||||
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Non-GAAP net income per share: | ||||||||||||||||
Basic | $ | 0.05 | $ | 0.06 | $ | 0.00 | $ | 0.14 | ||||||||
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Diluted | $ | 0.05 | $ | 0.05 | $ | 0.00 | $ | 0.12 | ||||||||
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Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2012 | 2011 | 2012 | 2011 | |||||||||||||
Adjusted EBITDA: | ||||||||||||||||
Net loss | $ | (6,022 | ) | $ | (1,432 | ) | $ | (28,685 | ) | $ | (6,845 | ) | ||||
Add back: interest expense, net | 216 | 77 | 407 | 2,708 | ||||||||||||
Add back: provision for income taxes | 1,982 | 910 | 5,062 | 2,490 | ||||||||||||
Add back: depreciation and amortization | 15,033 | 11,146 | 45,127 | 32,654 | ||||||||||||
Add back: stock-based compensation | 4,661 | 1,970 | 11,992 | 4,782 | ||||||||||||
Add back: other (income) expense, net | (486 | ) | 33 | (1,363 | ) | (109 | ) | |||||||||
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Adjusted EBITDA | $ | 15,384 | $ | 12,704 | $ | 32,540 | $ | 35,680 | ||||||||
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Add: impact of business combination accounting rules | 2,593 | 183 | 10,861 | 768 | ||||||||||||
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Adjusted EBITDA excluding the impact of business combination accounting rules | $ | 17,977 | $ | 12,887 | $ | 43,401 | $ | 36,448 | ||||||||
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THE ACTIVE NETWORK, INC.
FUTURE PERFORMANCE—2012 AND 2013 OUTLOOK
(In thousands, except per share data)
Estimated 4th Quarter 2012 | Estimated Full Year 2012 | |||||||||||||||
Low End | High End | Low End | High End | |||||||||||||
4th Quarter and Full Year 2012 Outlook | ||||||||||||||||
Reconciliation of GAAP to Non-GAAP Results: | ||||||||||||||||
Net loss | $ | (18,000 | ) | $ | (13,000 | ) | $ | (46,700 | ) | $ | (41,700 | ) | ||||
Interest, taxes and other | 2,000 | 1,000 | 6,100 | 5,100 | ||||||||||||
Depreciation and amortization | 16,000 | 15,000 | 61,100 | 60,100 | ||||||||||||
Stock-based compensation | 5,000 | 4,000 | 17,000 | 16,000 | ||||||||||||
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Adjusted EBITDA | $ | 5,000 | $ | 7,000 | $ | 37,500 | $ | 39,500 | ||||||||
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Add: impact of business combination accounting rules | 1,600 | 1,600 | 12,500 | 12,500 | ||||||||||||
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Adjusted EBITDA excluding the impact of business combination accounting rules | $ | 6,600 | $ | 8,600 | $ | 50,000 | $ | 52,000 | ||||||||
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Net Loss Per Share: | ||||||||||||||||
Net loss | $ | (18,000 | ) | $ | (13,000 | ) | $ | (46,700 | ) | $ | (41,700 | ) | ||||
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Weighted average shares—basic and diluted | 60,700 | 61,000 | 58,800 | 59,000 | ||||||||||||
Net loss per share—basic and diluted | $ | (0.30 | ) | $ | (0.21 | ) | $ | (0.79 | ) | $ | (0.71 | ) | ||||
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Estimated Full Year 2013 | ||||||||
Low End | High End | |||||||
Full Year 2013 Outlook | ||||||||
Reconciliation of GAAP to Non-GAAP Results: | ||||||||
Net loss | $ | (38,000 | ) | $ | (31,000 | ) | ||
Interest, taxes and other | 6,000 | 5,000 | ||||||
Depreciation and amortization | 60,000 | 59,000 | ||||||
Stock-based compensation | 22,000 | 21,000 | ||||||
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Adjusted EBITDA | $ | 50,000 | $ | 54,000 | ||||
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Net Loss Per Share: | ||||||||
Net loss | $ | (38,000 | ) | $ | (31,000 | ) | ||
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Weighted average shares—basic and diluted | 64,000 | 65,000 | ||||||
Net loss per share—basic and diluted | $ | (0.59 | ) | $ | (0.48 | ) | ||
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Media Contact: | Investor Contact: | |
Mona Klausing, ACTIVE Network | Christine Greany, The Blueshirt Group | |
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1-858-964-3813 | 1-858-523-1732 |