comScore Reports 23% Revenue Growth

Online measurement firm comScore has announced results for the quarter ended June 30, with revenue up 23% on the year to $20.8m. It also reports a growth in the proportion of its income from subscriptions, and strong investment for the future.

Second quarter 2007 GAAP net income was $1.2m compared to $1.4m for Q2 2006 - however, this includes a one-off charge of $1.3m due to a reclassification relating to the IPO it completed a month ago. Allowing for this, the company is also reporting adjusted net income for the quarter at $3.3m, an increase of 67% on Q2 2006.

Subscription revenue for the second quarter was up 29% on the year to $16.3m, and its share of all revenue up from 74 to 78%. comScore also reports strong sales momentum in the first half of 2007, resulting in deferred revenue up 50% at $26.6m at the end of the quarter. The firm added 128 new customers in the year to June 30th, for a total of 776, with 687 of these subscription-based (up 110 on the year). International revenue was up 78% to $2.3m in the second quarter, and comprised 11% of total revenue.

President and CEO Dr. Magid Abraham says the firm was pleased with results which were 'ahead of our expectations for the quarter.' He continues: 'Demand for our products was driven by continued strong growth in our existing customers' spending on digital marketing combined with consumers' increased spending on e-commerce. As a result, we were able to continue to grow the size of our customer base.' comScore has also been ploughing profit back in, according to Dr. Abraham, who adds: 'In addition, we have invested in building a pipeline of new products that we expect to introduce in the third quarter. We also intend to invest in growing our sales capacity both domestically and internationally, as reflected by the opening of a Tokyo office during the second quarter that serves to establish our commercial presence in the important Asia-Pacific region.'

The company forecasts Q3 revenue of c.$21.5m to $22.0m, up 33-36% on the year, an adjusted net income of $3.3m-$3.5m, or $0.11 to $0.12 per fully diluted share. For the full-year 2007, it anticipates revenue of approximately $85.9m to $86.7m, up 30-31% over comparable 2006 revenue.

Web site: www.comscore.com.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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