XO Group Reports Financial Results
Fourth Quarter Revenue up 13.7% Year Over Year, Full Year Revenue up 7.4% Year Over Year.
XO Group Inc the premier consumer internet and media company dedicated to guiding people through transformative life stages – from getting married, moving in together and having a baby – reported financial results for the three months and full year endedDecember 31, 2014.
Total revenue for the fourth quarter of 2014 was$37.1 million, up 13.7% compared to the same period in the prior year. GAAP net loss for the quarter was($4.0) millionor($0.16)per share. Non-GAAP earnings per share for the quarter was$0.06compared to$0.02in the prior year quarter. The Company’s balance sheet atDecember 31, 2014reflects cash and cash equivalents of$90.0 millioncompared to$90.7 millionatDecember 31, 2013. Under the previously announced stock buyback authorization, during the quarter, the Company repurchased shares of its common stock for approximately$1.0 million.
«I want to congratulate our team on successfully focusing our efforts, investing in our mobile and marketplace capabilities, and launching exceptional products, while delivering our best revenue growth rates in years and continuing to deliver positive cash flow», saidMike Steib, Chief Executive Officer.
During the quarter, the Company announced two strategic actions to focus on the Company’s core business: the shutdown of its wedding supplies fulfillment operations and the disposition of its Ijie operations in China. The shutdown of the wedding supplies fulfillment operations is scheduled to be complete by the end of Q1 2015 and the disposition of its Ijie operations was completed inDecember 2014.
The Company is reiterating its long-term financial targets as previously provided onNovember 6, 2014. The Company is targeting double digit revenue growth rates, gross margins of approximately 90-95%, and operating expense growth below revenue growth rates, yielding adjusted EBITDA margins of at least 20%.
XO Group Inc.’s (NYSE: XOXO;xogroupinc.com) mission is to help people navigate and truly enjoy life’s biggest moments, together. Our multi-platform brands guide couples through transformative life stages – from getting married, to moving in together and having a baby – and include The Knot (#1 wedding planning resource), The Bump, (a leading pregnancy and parenting brand), and The Nest (the hip guide to all things home for new couples). The Company is publicly listed on the New York Stock Exchange (XOXO) and is headquartered inNew York City.