Organic Growth for comScore

comScore has reported third quarter results for 2015, with revenue up 13% to $92.4m vs Q3 2014, and a slightly larger rise in the profit measure adjusted EBITDA, which rose 16% to $23.4m.

GAAP income before taxes was $0.9m, helped out of the red by lower sales and marketing costs; while net income was $1.0m. Adjusted EBITDA margin was 25% of revenue, up 50 basis points. The company's subscription revenue continues to drive growth - up 15.8% to $84.8m, while project revenue declined slightly from $8.0m to $7.6m. International revenue remained static at $24.8m.

An increasing portion of the revenue figures reported - $9.1m in the latest quarter - comes from 'nonmonetary' revenue, which refers to sales booked from barter agreements with other companies and generally used to get access to their data sets. According to the Wall Street Journal (www.wsj.com ) growth in this quarter would have been 'only' 8% without such revenue, and the agreements 'have been the subject of scrutiny' as their fair value is based on estimates.

For the nine months to date, on a pro forma basis, revenue was up 15% to $270.7m, and adjusted EBITDA up 23% to $67.6m.

With the acquisition of Rentrak in process, comScore has also announced the sale of its enterprise analytics technology, Digital Analytix, to Adobe, helping it to focus on core activity.

President and CEO Serge Matta (pictured) said the results showed 'a solid quarter of record revenues, strong profitability and net income from operations'. He comments: 'We continue to see momentum in our advertising solutions, including vCE and new partnerships to bring comScore Bid Ratings to programmatic platforms. We're incredibly focused on innovation and execution for cross-platform measurement, introducing our new Total Home Panel, and working through the details of our planned merger with Rentrak'.

Notwithstanding its big acquisitions news and continuing strong growth, comScore has seen its share price fall from a high of more than 64 cents just after the last quarter's results (August 17th) to just over 46 cents today (Nov 6th) - although it is still ahead of its price 12 months ago, c.43 cents.

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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