Leading digital marketing intelligence platform comScore has narrowed its losses and achieved record quarter-four revenue, but will still look to axe one of its declining product lines.
It seems to have been a busy year for the US-founded company, which measures what people do as they navigate the digital world and then transforms the information into useful insights to aid its clients.
As well as gaining strong bookings momentum and making ‘excellent progress’ on new products, comScore achieved record Q4 revenue of $68.4 million, which was up by 9% compared to the same period last year.
Axing of Some Products?
ComScore said this revenue growth was partially offset by declines in the company's non-health copy testing and configuration manager products, which comScore is now looking to potentially dispose off.
Excluding revenue from these products, fourth quarter revenue, measured on a non-generally accepted accounting principles (GAAP) pro forma basis, would have increased 12% over the comparable period in 2011.
GAAP loss before income taxes was $1.9 million in the fourth quarter of 2012, compared to $4.4 million in the fourth quarter of 2011.
The globally operating company, which delivers its digital marketing intelligence platform through its Media Metrix product family and through comScore Marketing Solutions, said in Q4 2012 it significantly expanded its mobile measurement panels and mobile measurement bookings were up 29%, over 2011.
ComScore said its Q4 results were driven by ‘robust growth’ in the company's Media Metrix suite of audience measurement products, in addition to accelerated momentum across its product offerings in mobile, advertising campaign measurement and digital business analytics.
The Media Metrix has an audience measurement in 44 countries and is relied on by advertisers, agencies and publishers.
The company’s president and chief executive officer, Magid Abraham, said comScore’s validated Campaign Essentials (vCE) advertising analytics suite, also continued to see strong sales activity during the Q4 period.
During Q4 comScore signed substantial deals for its website analytics offering, Digital Analytix, and for its mobile operator analytics product during the quarter.
New Customers & a Sharpened Focus
ComScore also scooped 45 net new customers in Q4, ending the year with a total of 2,159 customers.
“In 2013, we will continue our transformation into a real-time digital business analytics company, with a sharpened focus on our four strategic growth areas of audience, advertising, digital business and mobile operator analytics products,” Abraham said.
For the full year 2012, comScore reported revenue of $255.2 million, an increase of 10% from 2011.
Losses were also narrowed. GAAP loss before income taxes were at $9.4 million in 2012, compared to $18.8 million in 2011.