The following is from Globe Newswire:
Second Quarter Revenues $169.4 million, Up 8.5% Year-Over-Year; Up 10.2% on Constant Currency Basis –
– Second Quarter Adjusted EBITDA $67.3 million, Up 16.1% Year-Over-Year1 –
PROVO, Utah, July 22, 2015 (GLOBE NEWSWIRE) — Ancestry.com LLC (the “Company”), the world’s largest online family history resource, reported financial results today for the second quarter ended June 30, 2015.
“Our business is performing well at nearly every level, highlighted in the second quarter by improving revenue growth and continued strong Adjusted EBITDA growth,” said Tim Sullivan, Chief Executive Officer of the Company. “We are seeing continued momentum both in our Ancestry subscriber business and growth at AncestryDNA, which hit the one million DNA customer milestone earlier this month. This quarter Ancestry also released a major upgrade to its core website that transforms how customers view, arrange, and share the details of their ancestors’ lives, helping them weave together a richer, more complete picture of the events, places, and eras that shaped the people who led to them. Product improvements and new content are important growth drivers for our business for new and existing subscribers alike, and the new features and experience on Ancestry, combined with exciting new content releases on tap, position us well for the future.”
Second Quarter 2015 Financial Highlights
Total revenues for the second quarter 2015 were $169.4 million compared to $156.1 million in the second quarter of 2014, driven by growth in revenues from AncestryDNA and the core Ancestry websites. Second quarter 2015 total revenues were reduced by approximately one-and-one-half percentage points due to the foreign exchange impact of the strong U.S. dollar.
Net income for the second quarter of 2015 was $13.7 million compared to a net loss of $(7.6) million in the second quarter of 2014.
Adjusted EBITDA2 for the second quarter of 2015 was $67.3 million, compared to $55.4 million in the second quarter of 2014. Adjusted EBITDA for the three months ended June 30, 2014 included $2.6 million of professional service fees related to litigation.
Free cash flow3 totaled $20.4 million for the second quarter of 2015, compared to $10.2 million for the second quarter of 2014.
Cash and cash equivalents totaled $108.1 million as of June 30, 2015.
Obligations under long-term debt4 totaled $854.5 million as of June 30, 2015.
1 Adjusted EBITDA for the three months ended June 30, 2015 increased 21.5% year-over-year.Excluding the impact of one-time expenses of $2.6 million of professional service fees related to litigation for the three months ended June 30, 2014,adjusted EBITDA increased 16.1% in the second quarter of 2015.
2 Adjusted EBITDA is defined as net income (loss) plus interest expense, net; other (income) expense, net; income tax expense (benefit); and non-cash charges, including depreciation, amortization and stock-based compensation expense.
3 Free cash flow subtracts from adjusted EBITDA the capitalization of content databases, purchases of property and equipment and cash received (paid) for income taxes and interest.
4 This amount does not include $390.2 million in senior unsecured PIK notes issued by our parent company, Ancestry.com Holdings LLC. While not required, Ancestry.com LLC has made and intends to pay future distributions or loans to its parent related to the PIK Notes.