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Everyday Health Reports Second Quarter 2015 Financial ResultsNEW YORK, Aug. 11, 2015 /PRNewswire/ -- Everyday Health, Inc. (NYSE: EVDY), a leading provider of digital health marketing and communications solutions, today announced financial results for the second quarter ended June 30, 2015 and the acquisition of Tea Leaves Health. For the second quarter:
"We are very pleased with our second quarter results and our continued progress in growing revenue across the pharma sector," said Ben Wolin, Co-Founder and CEO of Everyday Health. "Our goal is to build the leading digital marketing and communications platform for healthcare marketers, and our strategic acquisition of Tea Leaves Health allows us to diversify our customer base and expand our revenue opportunity into the large and fast-growing hospital systems market." Financial Highlights For the three months ended June 30, 2015:
Tea Leaves Health Acquisition Everyday Health acquired Tea Leaves Health for a purchase price of $30 million, plus a potential earnout based on a specified financial target as of the end of 2016. Based in Georgia, Tea Leaves Health is a leading provider of a SaaS-based marketing and analytics platform for hospital systems to identify and engage consumers and physicians. The acquisition of Tea Leaves Health will further extend Everyday Health's presence in the hospital systems market, which represents a high-growth opportunity for the Company. By combining Everyday Health's existing content, data and assets with Tea Leaves Health's premier customer base and robust data and marketing platform, the Company will become a full service marketing platform for hospital systems. Financial Outlook For the third quarter of 2015 and full year 2015, the Company anticipates achieving financial results as set forth below:
"We continued to deliver profitable growth in the second quarter," said Brian Cooper, CFO of Everyday Health. "We have significantly broadened and deepened the range of solutions we offer to our customers, and we are very excited about the large market opportunity we have in front of us." Earnings Teleconference Information The Company will discuss its second quarter 2015 financial results and business outlook during a teleconference today, August 11, 2015, at 4:30 PM ET. The conference call can be accessed at (877) 201-0168 or (647) 788-4901 (International), conference ID# 82658489 or via live webcast at http://ir.everydayhealth.com. The live webcast will include a supplemental investor presentation. Following completion of the call, a recorded replay of the webcast and investor presentation will be available on Everyday Health's website. To listen to the telephone replay, call toll-free (855) 859-2056 or (404) 537-3406 (International), conference ID# 82658489. The telephone replay will be available from 7:30 PM ET August 11, 2015 through 11:59 PM ET August 18, 2015. Additional investor information can be accessed at http://ir.everydayhealth.com. About Everyday Health, Inc. Everyday Health, Inc. (NYSE: EVDY) is a leading provider of digital health marketing and communications solutions. Everyday Health attracts a large and engaged audience of consumers and healthcare professionals to its premier health and wellness properties, and utilizes its data and analytics expertise to deliver highly personalized content experiences and efficient and effective marketing and engagement solutions. Everyday Health enables consumers to manage their daily health and wellness needs, healthcare professionals to stay informed and make better decisions for their patients, and marketers, health payors and providers to communicate and engage with consumers and healthcare professionals to drive better health outcomes. Everyday Health's content and solutions are delivered through multiple channels, including desktop, mobile web, and mobile phone and tablet applications, as well as video and social media. Safe Harbor Provision This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by their use of terms and phrases such as "anticipate," "enable," "expect," "will," "believe," "continue" and other similar terms and phrases, and such forward-looking statements include, but are not limited to, the statements regarding our future financial performance set forth under the heading "Financial Outlook." The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including, but not limited to: our ability to attract and retain users to our portfolio of properties; our ability to attract and retain customers; the timing and amount of advertising spending by our current and future customers; our ability to effectively integrate the Tea Leaves Health acquisition; our ability to enter into new, or extend existing, partnership arrangements; our ability to successfully pursue opportunities in the broader health and wellness sectors; as well as those factors contained in the "Risk Factors" section of our SEC filings. All information in this release is as of August 11, 2015. Except as required by law, we undertake no obligation to update publicly any forward-looking statement made herein for any reason to conform the statement to actual results or changes in our expectations. Use of Non-GAAP Financial Measures To supplement the financial measures presented in the Company's press release and related conference call or webcast in accordance with accounting principles generally accepted in the United States ("GAAP"), we also present the following non-GAAP measures of financial performance: Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP net income (loss) per share ("EPS"). A "non-GAAP financial measure" refers to a numerical measure of the Company's historical or future financial performance, financial position, or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP in the Company's financial statements. The Company provides certain non-GAAP measures as additional information relating to its operating results as a complement to results provided in accordance with GAAP. The non-GAAP financial information presented here should be considered in conjunction with, and not as a substitute for or superior to, the financial information presented in accordance with GAAP and should not be considered a measure of the Company's liquidity. There are significant limitations associated with the use of non-GAAP financial measures. Further, these measures may differ from the non-GAAP information, even where similarly titled, used by other companies and therefore should not be used to compare the Company's performance to that of other companies. The Company has presented Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP EPS as non-GAAP financial measures in this press release. We define Adjusted EBITDA as net income (loss) plus: interest expense, net; income tax expense (benefit); depreciation and amortization expense; stock-based compensation expense; compensation expense related to acquisition earnout and retention bonus arrangements; write-offs of unamortized deferred financing and other debt extinguishment costs; executive transition charges; and certain other non-cash charges such as preferred stock warrant mark-to-market adjustments. We define non-GAAP net income (loss) as net income (loss), plus non-cash stock-based compensation, compensation expense related to acquisition earnout and retention bonus arrangements, and other unusual or significant adjustments such as the write-off of deferred financing costs and other debt extinguishment costs, executive transition charges, and the preferred stock mark-to-market adjustment. We define non-GAAP EPS as non-GAAP net income (loss) divided by weighted-average shares outstanding, which reflects the issuance of the shares sold in the Company's IPO, which closed on April 2, 2014, as well as the conversion of all outstanding shares of preferred stock into common stock in connection with the IPO. The Company believes the use of non-GAAP financial measures, as a supplement to GAAP measures, is useful to investors in that they eliminate items that are either not part of the Company's core operations or do not require a cash outlay, such as stock-based compensation. Our management uses these non-GAAP financial measures when evaluating the Company's operating performance and for internal planning and forecasting purposes. The Company believes that these non-GAAP financial measures help indicate underlying trends in the Company's business, are important in comparing current results with prior period results, and are useful to investors and financial analysts in assessing the Company's operating performance.
Logo - http://photos.prnewswire.com/prnh/20101112/NY00568LOGO To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/everyday-health-reports-second-quarter-2015-financial-results-300127030.html SOURCE Everyday Health, Inc. |