
Q2 GAAP Revenues Increase 22%, Non-GAAP Revenues Increase 17%;
GAAP Net Loss Decreases 24%, Non-GAAP Net Income Increases 44%;
More than 150 New Customers Added in Q2
OREM, Utah – July 22, 2009 — Omniture, Inc. (NASDAQ: OMTR), a leading provider of online business optimization software, today announced results for its second quarter ended June 30, 2009. In the second quarter, Omniture achieved record revenues of $87.6 million, compared to $71.6 million reported for the second quarter of 2008 and $87.2 million reported for the first quarter of 2009. This represents 22 percent year-over-year revenue growth. Non-GAAP revenue for the quarter was $87.9 million. The difference between GAAP and non-GAAP revenue reflects the revenue excluded from the GAAP results due to purchase accounting adjustments, which reduce deferred revenue to its fair value.
Omniture's GAAP net loss was $4.9 million or $0.06 per diluted share in the second quarter of 2009 as compared to a net loss of $6.5 million or $0.09 per diluted share in the second quarter of 2008. Non-GAAP net income was $10.5 million or $0.13 per diluted share for the second quarter, compared to net income of $7.3 million or $0.10 per diluted share in the second quarter of 2008. Non-GAAP net income excludes the effect of acquisition-related adjustments to deferred revenue, stock-based compensation, amortization of certain intangible assets, imputed interest related to patent license agreements and certain acquisition-related expenses and non-cash tax adjustments.
Second quarter adjusted EBITDA was $18.9 million. Adjusted EBITDA is defined as loss from operations on a GAAP basis less depreciation and amortization, stock-based compensation and the acquisition-related adjustment to deferred revenue.
During the second quarter of 2009, Omniture added over 150 new customers and captured data from approximately 1.05 trillion transactions. New customer relationships secured in the second quarter include: 3M, Alvenda, Azamara Cruises, Celebrity Cruises, Colonial First State, Forex Direct Dealer, FOXTEL, Ghirardelli Chocolate Company, Mozy by Decho, Neu.de GmbH, Niche Technologies, Press immo On Line S.A.S, Rhamat Trading Inc., Royal Caribbean International, Ryman Direct, Senshukai Co., SurveyMonkey.com, The Education Center, TV2 Danmark A/S, University Hospitals of Cleveland, Viking Line and YouCompare.
Click here to view the Q2 2009 financial results.
Guidance
Q3 FY 2009: Omniture is targeting flat revenues from the second quarter, with adjusted EBITDA and non-GAAP net income per share approximately the same as the second quarter.
Information for Conference Call to Discuss Q2 2009 Financial Results
Omniture, Inc. will host a conference call and simultaneous audio-only webcast at 5:00 p.m. (Eastern Time) this afternoon. To access the conference call, dial 866-730-5764, or 857-350-1588 for international callers. The access code is 62479935. Please call 10 minutes prior to the scheduled conference call time. The webcast will be available on the company's investor relations web site at www.omtr.com. A replay of the conference call will be accessible by telephone after 7:00 p.m. (Eastern Time) by dialing 888-286-8010, or 617-801-6888 for international callers. The access code is 57556005. The conference call will also be archived on the company's investor relations web site. Both the replay and archived webcast will be available until August 5, 2009.
About Non-GAAP Financial Measures
In this release and during our conference call as described above we use or plan to discuss certain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States of America, or GAAP. A reconciliation between non-GAAP and GAAP measures can be found in the accompanying tables and on the company’s investor relations web site at www.omtr.com. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies.
While these non-GAAP measures are not a substitute for GAAP results, we believe they provide a basis for evaluating the company's operating results because they are helpful in understanding our past financial performance and our future results and facilitate comparisons of results between periods. We believe the calculation of non-GAAP revenue, which reflects the revenue excluded from the GAAP results due to purchase accounting adjustments to reduce deferred revenue to its fair value, provides a meaningful comparison to our historic GAAP revenue. We also believe the calculation of net income and loss, calculated without acquisition-related accounting adjustments to deferred revenue, stock-based compensation expense, the amortization of certain intangible assets, imputed interest expense and certain acquisition-related expenses and non-cash tax adjustments, provides a meaningful comparison to our net loss figures. We also believe that adjusted EBITDA, which we calculate as loss from operations on a GAAP basis less depreciation and amortization, stock-based compensation and acquisition-related adjustments to deferred revenue, is an indicator of the company's financial results and cash flows and is useful to investors in evaluating operating performance. Our management regularly uses these non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures have been reconciled to the nearest GAAP measure as required under the rules and regulations promulgated by the U.S. Securities and Exchange Commission.
About Omniture
Omniture, Inc. is a leading provider of online business optimization software, enabling customers to manage and enhance online, offline and multi-channel business initiatives. Omniture's software, which it hosts and delivers to its customers as an on-demand subscription service and on-premise solution, enables customers to capture, store and analyze information generated by their Web sites and other sources and to gain critical business insights into the performance and efficiency of marketing and sales initiatives and other business processes. In addition, Omniture offers a range of professional services that complement its online services, including implementation, best practices, consulting, customer support and user training through Omniture Education. Omniture's over 5,000 customers include eBay, AOL, Wal-Mart, Gannett, Microsoft, Neiman Marcus, Oracle, Sony and HP. www.omniture.com
Note on Forward-looking Statements
Historical Information:
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