Global voucher publisher RetailMeNot has seen first-quarter revenue rise by 51% year on year to $61.3 million from $40.6 million.
The US-based company has operations throughout Europe and revenues from these international markets, which include Britain’s VoucherCodes.co.uk and various properties in France, jumped from $8.8 million in 2013 to $13.7 million, signalling a 55% change.
RetailMeNot did struggle with its earnings, though. Net income for 2014 was $6.1 million, a drop of 13% from $7 million, which has been attributed to increased investment and higher stock-based compensation expense.
Mobile doubles
Buoyed by the international coupon firm’s sales in the first quarter, CEO Cotter Cunningham claimed there was more to come as retailers turned to RetailMeNot for extra revenue.
“Our first quarter business results continue to demonstrate that more consumers are coming to our websites and mobile apps to save money when they shop, and retailers are looking at our marketplace to help them drive sales online and in-store,” Cunningham said.
Mobile apps, as Cunningham mentioned, showed signs of being used more frequently. RetailMeNot recorded a 127% rise in mobile net revenues to $9.3 million from $4.1 million. It also had a 15% share of total net revenues in Q1 2014.
Adjusted EBITDA grew 17% over the year to $21.4 million, up from Q1 2013’s $18.2 million. Visits to RetailMeNot’s publishers also saw big gains, topping 155.2 million, a 26% increase on the 122.9 million of last year.