Active Network Reports Net Loss of $14.3M for Q4Monday, February 18, 2013
Active Network, the San Diego online registration service for participant sports and other technology services, reported a fourth quarter net loss of $14.3 million, compared with a net loss of $8.5 million in the like quarter of 2011.
Revenue for the quarter came in at $93.7 million, up 23 percent from the like quarter of 2011.
For the full year, Active reported a net loss of $43 million, compared with a net loss of $27.1 million in 2011.
Annual revenue finished at $418.9 million, up 24 percent from the prior year.
Active CEO Matt Landa said in the last quarter the company’s cross selling efforts gained momentum, resulting in the addition of several Fortune 500 customers that now use its solution. “We generated positive operating cash flow of $27 million and ended the year with a strong balance sheet,” Landa said.
Active Network forecast full year 2013 revenue to be in the range of $470 million to $480 million, and for a net loss in the range of $31 million to $38 million.
— SDBJ Staff Report