Record Quarterly Revenue Reflects Continued Positive Momentum
Across Audience, Advertising and Digital Enterprise Businesses
RESTON, VA – October 29, 2013 – comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today announced financial results for the third quarter of 2013.
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Third Quarter 2013
comScore achieved record quarterly revenue of $71.6 million; GAAP income before income taxes of $0.7 million; and GAAP net loss of $0.1 million, or $0.00 per basic and diluted share.
Third quarter and year to date metrics compared to pro forma* results for the third quarter and year to date of 2012 were as follows:
- Revenues of $71.6 million, up 14% from a year ago.
- Adjusted EBITDA of $16.4 million, up 50% from a year ago.
- Adjusted EBITDA margin was 23% of revenue, up from 17% from a year ago.
- On a constant currency basis third quarter revenues would have been $0.3 million higher.
- Year to date revenues of $209.0 million, up 16% from a year ago.
- Year to date Adjusted EBITDA of $43.0 million, up 38% from a year ago.
* All amounts, including implied prior year Pro Forma amounts, reflect adjustments to exclude Non-Health Copy Testing and Configuration Manager products and are based on management’s estimates of the revenues and results of operations of such products. Prior period amounts have been adjusted to reflect the same assumptions with respect to Non-Health Copy Testing and Configuration Manager products for the purposes of consistent presentation. See Reconciliation of Revenue and Income before Income Taxes to Non-GAAP Revenue, non-GAAP Income and Adjusted EBITDA set forth in the attachment to this press release.
Dr. Magid Abraham, comScore’s chief executive officer, stated, “comScore’s strong third quarter results reflect increasing momentum across our business as we continue to lead the way in digital measurement and analytics. With continued growth in our customer base, we generated record revenues that contributed to margin expansion and strong EBITDA growth in the quarter. Our Media Metrix MP service, which delivers multi-platform audience measurement, continued its successful customer adoption with 43 additional customers subscribing to the service in the quarter. In addition, recent announcements such as VivaKi’s selection of our validated Campaign Essentials (vCE) across all of Publicis Group for its Audience on Demand, real time bidding platform, speak to vCE’s growing market position in campaign measurement and the value our suite of advertising analytics delivers for optimizing advertising buys.”
“Looking ahead, we remain committed to sharp execution of the strategies and priorities that are driving our strong performance in 2013. We are focused on the fastest growing areas of digital analytics, including multimedia and cross-media measurement products, and expect to sustain strong momentum across our business and improve margin leverage from our scalable, high revenue visibility SAAS business model.”
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Q3 2013 Earnings Report.pdf 669.83 KB