Within the first month of the new financial year, a lot of companies have reported their financial results for the previous quarter and year. Amongst many others, Angie’s List Inc (NASDAQ:ANGI) is one such company that has just reported financial results. According to reports, it managed to grow at 15% in the previous quarter in terms of revenues.
Overall A Good Bet?
Angie’s is one of the fastest growing firms in today’s time. It has not only enhanced its financial performance over these years, but also generated a massive consumer base. The first quarter of 2015 proved to be a good duration for the company. It earned $83.5 million revenue in the previous quarter, 15% higher on YOY basis. When it comes to membership revenue, it earned $17.3 million in the first quarter, which was 5% lesser than the revenue earned during the same period in 2014.
Angie’s has undoubtedly taken its services to the new level, and the revenues earned as a service provider are the biggest evidence of it. As per the reports, the revenue generated as a service provider in the previous quarter was $66.2 million, 22% more than the revenue generated by the company during the same period in the previous year. This revenue comprised of fees from e-commerce transactions and revenue from advertising contracts.
Marketing expenses amounted $16.3 million in the previous quarter, 31% lesser than 1Q2014. Net income for 1Q2015 was $4.4 million as compared to net loss of $3.8 million in 1Q2014. It had put significant emphasis on increasing selling activities; hence, the selling expenses totaled $28.6 million in the previous quarter, a little over $26.1 million in 1Q2014. The company managed to earn adjusted EBITDA of $8.6 million in the previous quarter versus a loss of $0.6 million in 1Q2014. Cash from the operation was $21.2 million while total cash, investments and cash equivalent for this period were $77.5 million.