Is bitcoin the way of the future? If it is, then I give (btcs) Bitcoin Shop a try because it is the tomorrow of shopping. The Bitcoin Shop seems like a good idea if they keep up with what they are accomplishing. As an investor, I am looking for ideas that will make my grandkids money. What do you think?
WilliamMckinleyCapital.com/Rebuilding America.
Start A Hedge Fund Investment Strategies
http://www.mergersandinquisitions.com/start-hedge-fund-investment-strategies/
TheStreet Reports First Quarter 2014 Results
TheStreet,
Inc. (NASDAQ: TST), a leading digital financial media company, today
reported financial results for the first quarter of 2014. The Company
reported revenue of $14.4 million, a net loss of $1.1 million and
Adjusted EBITDA(1) of $18 thousand.
Revenue in the first quarter of 2014 was
$14.4 million, an increase of 14.4% from $12.6 million in the prior year
period, which was primarily driven by organic growth. Subscription
Services revenue in the first quarter was $11.4 million, an increase of
11.7% compared to the prior year period. The increase in Subscription
Services revenue was primarily due to increased subscribers to the
Company's newsletter products as well as revenue from acquisitions.
Media revenue in the first quarter was $2.9 million, an increase of
26.3% compared to the prior year period primarily due to increased
demand from new and repeat advertisers.
"During the first quarter, retail trading
volumes reached multi-year highs as individual investors returned to the
stock market and M&A activity picked up. We are pleased by the 14%
year-over-year revenue growth for the quarter across our subscription
and media platforms. We feel confident about market conditions and
continue to reinvest to accelerate customer acquisition," said Elisabeth
DeMarse, Chairman, President and Chief Executive Officer. "In 2014, we
continue to execute on our growth strategy and remain focused on driving
revenue from our retail and institutional subscription platforms,"
concluded DeMarse.
Operating expenses in the first quarter were $15.6 million, an increase of 8.1% compared to the prior year period.
Net loss in the first quarter was $1.1
million compared to a net loss of $1.7 million in the prior year period.
The Company reported basic and diluted net loss per share attributable
to common stockholders of $0.04 in the first quarter of 2014 compared to
a net loss per share of $0.05 in the prior year period.
Adjusted EBITDA was $18 thousand in the
first quarter compared to negative Adjusted EBITDA of $34 thousand in
the prior year period.
The Company generated $2.4 million in
operating cash flow during the quarter ended March 31, 2014, compared to
the use of $41 thousand in operating cash flow for the prior year
period. The Company ended the quarter with cash and cash equivalents,
restricted cash and marketable securities of $60.9 million.
Selected Operating Metrics
-- For total Subscription Services:
-- Bookings were $12.8 million for the first quarter, an increase of 10.1% from the prior year period.
-- For Subscription Newsletters(2):
-- The number of paid subscriptions at the
end of the period was 82,700, an increase of 22.3% from the prior year
and 5.5% sequentially.
-- Average revenue per user for the first quarter decreased 9.1% compared to the prior period and 2.6% sequentially.
-- Average monthly churn was 3.3% for the
first quarter, compared to 3.0% in the prior year period and 2.3% in the
fourth quarter(3).
Conference Call Information
TheStreet will discuss its financial results for the first quarter today at 4:30 p.m. ET.
To participate in the call, please dial
(888) 481-2877 (domestic) or (719) 457-2661 (international). The
Conference ID number is 5203918. This call is being webcast and can be
accessed in the Investor Relations section of TheStreet website at
http://investor-relations.thestreet.com/events.cfm.
A replay of the webcast will be available
approximately two hours after the conclusion of the call and remain
available for approximately ninety calendar days.
About TheStreet
TheStreet, Inc. (www.t.st) is a leading
independent digital financial media company providing business and
financial news, investing ideas and analysis to personal and
institutional investors worldwide. The Company's portfolio of business
and personal finance brands includes: TheStreet, RealMoney, RealMoney
Pro, Stockpickr, Action Alerts PLUS, Options Profits, MainStreet and
RateWatch. To learn more, visit www.thestreet.com. The Deal, the
Company's institutional business, provides intraday coverage of mergers
and acquisitions and all other changes in corporate control. To learn
more, visit www.thedeal.com.
Non-GAAP Financial Information
(1) To supplement the Company's financial
statements presented in accordance with United States generally accepted
accounting principles ("GAAP"), the Company uses non-GAAP measures of
certain components of financial performance, including "EBITDA,"
"Adjusted EBITDA" and "free cash flow." EBITDA is adjusted from results
based on GAAP to exclude interest, income taxes, depreciation and
amortization. This non-GAAP measure is provided to enhance investors'
overall understanding of the Company's current financial performance and
its prospects for the future. Specifically, the Company believes that
the non-GAAP EBITDA results are an important indicator of the
operational strength of the Company's business and provide an indication
of the Company's ability to service debt and fund acquisitions and
capital expenditures. EBITDA eliminates the uneven effect of
considerable amounts of non-cash depreciation of tangible assets and
amortization of certain intangible assets that were recognized in
business combinations. Adjusted EBITDA further eliminates the impact of
non-cash stock compensation, restructuring, transaction related costs
and other charges affecting comparability. A limitation of these
measures, however, is that they do not reflect the periodic costs of
certain capitalized tangible and intangible assets used in generating
revenues in the Company's businesses. Management evaluates the
investments in such tangible and intangible assets through other
financial measures, such as capital expenditure budgets and investment
spending levels. "Free cash flow" means net loss plus non-cash expenses
net of gains/losses on dispositions of assets, less changes in
operating assets and liabilities and capital expenditures. The Company
believes that this non-GAAP financial measure is an important indicator
of the Company's financial results because it gives investors a view of
the Company's ability to generate cash.
(2) Subscription newsletters includes
investing newsletters and excludes subscriptions from The Deal, DealFlow
Media and Rate Watch.
(3) Average monthly churn rate is defined
as subscriber terminations/expirations in the quarter divided by the sum
of the beginning subscribers and gross subscriber additions for the
quarter, then divided by three. Subscriptions that are on a free-trial
basis are not regarded as added or terminated unless the subscription is
active at the end of the free-trial period.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking
statements as that term is defined in the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include
statements regarding the impact of the Company's growth initiatives and
expectations for 2014. Such forward-looking statements are subject to
risks and uncertainties, including those described in the Company's
filings with the Securities and Exchange Commission ("SEC") that could
cause actual results to differ materially from those reflected in the
forward-looking statements. Factors that might contribute to such
differences include, among others, economic downturns and the general
state of the economy, including the financial markets and mergers and
acquisitions environment, our ability to drive revenue, and increase or
retain current subscription revenue, our ability to optimize our free
site and generate new subscription revenue; our ability to successfully
integrate The Deal and other acquisitions; our ability to develop new
products; competition and other factors set forth in our filings with
the SEC, which are available on the SEC's website at www.sec.gov. All
forward-looking statements contained herein are made as of the date of
this press release. Although the Company believes that the expectations
reflected in the forward-looking statements are reasonable, the Company
cannot guarantee future results or occurrences. The Company disclaims
any obligation to update these forward-looking statements, whether as a
result of new information, future developments or otherwise.
Contacts: John Ferrara Chief Financial Officer TheStreet, Inc. 212-321-5234 ir@thestreet.com
Erica Mannion Investor Relations Sapphire Investor Relations, LLC 415-471-2700 ir@thestreet.com
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SOURCE TheStreet, Inc.
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