Boston, MA 05\/23\/2014 (wallstreetpr) \u2013 RetailMeNot Inc (NASDAQ:SALE) <\/b>drove a meaningful upside in its first quarter performance as a result of strong growth in traffic and continued increase in monetization. <\/b><\/p>\n
Strong Driving Factor<\/b><\/p>\n
During first quarter 2014, total visits grew by 26% to 155.2 million versus 122.9 million a year\u2019s ego due to higher mobile engagement which involves web visits, app sessions and app downloads.<\/p>\n
As of March 31, 2014, RetailMeNot has 49 million mobile web visits (+73%) and 20.4 million global subscribers for email and alerts (+107%) with cumulative downloads of more than 16.3 million apps (+171%) and 125.3 million mobile app sessions (+520%).<\/p>\n
As a result of high traffic, the net revenue per visit increased to $0.39 from $0.33 in the same period 2013. Therefore, mobile net revenues increased by 127% to $9.3 million (1Q2013: $4.1 million), which accounted for 15% of the total revenue. Consequently, it increased the consolidated net revenues by 51% to $61.3 million (1Q2013: $40.6 million), but, organic net revenues increased by 47%.<\/p>\n
The significant growth was due to increasing revenue from both national and international markets. The international market represented 22% of total revenue and grew by 55% to $13.7 million (1Q2013: $8.8 billion), but, the domestic market grew by 50% to $47.6 million (1Q2013: $31.8 million).<\/p>\n
Revenue Growth Improves Margins<\/b><\/p>\n
Gross margin improved to 93% with increasing revenues over it services. Despite increasing operating expenses related to product development and SG& A costs, the Company reported an upside of 17% year over year in adjusted EBITDA to $21.4 million that increased the adjusted EBITDA to 35%.<\/p>\n
Conclusion<\/b><\/p>\n
RetailMeNot Inc (NASDAQ:SALE) continues to demonstrate positive results with more customer additions and mobile apps for their smartphones. The Company generated $18.3 million of cash inflows from its operation during the quarter and ended up with the cash balance of $196.5 million. In addition, the Company has total debts of $39.6 million and $101.4 million available borrowings under credit facility as of March 31, 2014 to support its operation.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/23\/2014 (wallstreetpr) \u2013 RetailMeNot Inc (NASDAQ:SALE) drove a meaningful upside in its first quarter performance as a result of strong growth in traffic […]<\/p>\n","protected":false},"author":12,"featured_media":23420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[6867,6866,6865],"stock_ticker":[],"class_list":["post-23419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nasdaqsale","tag-retailmenot-inc","tag-retailmenot-inc-nasdaqsale","entry"],"acf":[],"yoast_head":"\n