WebSideStory reports third quarter loss
Digital marketing and analytics solutions provider WebSideStory Inc., reported a net loss of $1.7 million, compared with same-quarter net income of $1.8 million in 2005.
Under non-generally accepted accounting principles, the San Diego-based company posted a net income for the quarter of $3.2 million, compared to $2.6 million in 2005. These financials ignore amortization of intangibles, stock-based compensation and deferred revenue related to the company's February merger with Visual Sciences.
WebSideStory's third quarter ended September 30.
The company also reported non-GAAP revenue of $18.9 million, which compares favorably to previously issued guidance of $17.9 million to $18.5 million. Non-GAAP revenue includes $1.5 million in deferred revenue related to the company's merger with Visual Sciences. The company reported GAAP revenue of $17.4 million.
WebSideStory also reported strong year-over-year organic revenue growth from all product lines, yielding 34 percent growth company-wide, highlighted by 65 percent growth in the Visual Sciences Division. In addition, the company reported its 12th consecutive quarter of positive cash generation, adding $2.4 million in cash to the balance sheet, raising cash and short-term investments at quarter end to $19.4 million.
It also reported 85 new bookings for various modules of the WebSideStory and Visual Sciences suites, expanding the enterprise customer base to 1,450 worldwide.
For the fourth quarter, the company expects non-GAAP revenue in the $19.2 to $19.7 million range.