- 10.1 million members up from 8.5 million a year ago
- 235,000 paying subscribers
- Average revenue per subscriber was $75
- Average subscriber acquisition cost was $41
Revenue in the third quarter of 2004 was $17.1 million, an increase of 8%
compared to $15.8 million for the second quarter of 2004. Compared to the
third quarter of last year, revenue increased 74%, from $9.8 million. The
increase in revenue was primarily due to an increase in subscriptions.
The net loss in the third quarter was $3.0 million, compared to a net loss
of $4.1 million in the second quarter of 2004 and a net loss of $2.7 million
in the third quarter of last year.
On an adjusted EBITDA(3) basis, the loss in the third quarter was
approximately $200,000, compared to a loss of $2.4 million in the second
quarter and a loss of $2.1 million in the third quarter of last year.
In order to provide a more accurate depiction of its membership,
during the first quarter of 2004, the company changed the way it
accounts for active members to include those members who were active
in the 12 months preceding the period end date. Previously, the
company reported members during the subject period regardless of their
last date of activity.
The company also announced several key hires, including Mark Thompson as
chief financial officer, Phil Nelson as chief technology officer, Greg
Liberman as general counsel, and Sherry Willhoite as director of product
development.
The company also announced the appointment of Benjamin Derhy to its board
of directors. Mr. Derhy is a private investor and entrepreneur with a
particular focus on the Internet and consumer products sectors. He replaces
Todd Tappin, who resigned from MatchNet’s board in August.
Read the Press release.
