comScore, Inc. Reports Second Quarter 2014 Results
Strong Performance Reflects Continued Business Momentum
RESTON, VA - August 5, 2014 - comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today announced financial results for the second quarter 2014.
Second Quarter 2014
comScore achieved record quarterly revenue of $80.0 million. GAAP loss before income taxes was $2.7 million; and GAAP net loss was $3.2 million, or $(0.09) per basic and diluted share, which primarily reflects the accrual of contingent losses expected from the tentative settlement related to comScore's outstanding privacy class-action litigation which was reported in our Form 8-K dated May 30, 2014.
Second quarter and year to date 2014 metrics compared to results for the second quarter and year to date in the prior year* were as follows:
- Second quarter revenues of $80.0 million, up 14% from a year ago.
- Second quarter adjusted EBITDA of $16.7 million, up 20% from a year ago.
- Second quarter adjusted EBITDA margin was 21% of revenue, as compared to 20% in the same quarter of 2013.
- Year to date revenues of $156.9 million, up 13% from the same period in 2013 and up 14% on a pro forma basis*.
- Year to date adjusted EBITDA of $32.1 million, up 20% from the same period in 2013 and up 21% from a year ago on a pro forma basis*.
* comScore divested its Non-Health Copy Testing and Configuration Manager products in March 2013. All year-to-date 2013 pro forma growth rates included in the foregoing reflect adjustments to exclude the company's Non-Health Copy Testing and Configuration Manager products for the purposes of consistent presentation and are based on management's estimates of the revenue and results of operations of such products. 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.
Serge Matta, comScore’s president and chief executive officer, said, “Our strong performance in the second quarter reflects continued sharp execution on comScore’s key strategic priorities and positive momentum across our business. vCE continues to be a leader in digital measurement as we advance our long-term, strategic partnerships with Yahoo and Google to provide essential digital, mobile and video analytics to global advertisers seamlessly. We are also pleased to announce an expansion of our relationship with GroupM as a Preferred Strategic Partner, allowing us to further grow our vCE client base. This quarter, we continued to meaningfully enhance our core vCE product offerings and increase the value we provide to advertisers with the addition of sophisticated ad fraud detection technology via the MdotLabs acquisition. Looking forward, we are confident that we are very well-positioned to deliver superior value to our clients, partners and shareholders by capitalizing on dynamic market trends around the mobile and multi-platform consumer, ubiquitous video and advertising automation."
To access the full press release, please click here:
Second Quarter 2014 Earnings Report.pdf
Chief Financial Officer