First quarter revenue at WebSideStory Inc., provider of web analytics and online marketing services, increased 93% over Q1 2005, reaching $13.4 million on a GAAP basis, the company reports. The company reported a net loss of $1.7 million for the quarter.
On a non-GAAP basis, revenue grew 109% to $14.5 million, including $1.1 million in deferred revenue related to the company`s merger with Visual Sciences. The figures include the results of operations from Visual Sciences beginning Feb. 1. Non-GAAP income was $2.3 million, including deferred revenue related to the Visual Sciences merger and excluding stock-based compensation, amortization of intangibles and other non-cash items.
The company also reports strong year-over-year organic revenue growth from core product lines, including 40% growth in the Active Marketing Suite, comprised of HBX, Search and Publish, and 55% growth in the Visual Sciences business unit. It also reports 120 new contracts for modules of the WebSideStory Active Marketing and Visual Sciences suites, bringing customer count to more than 1,300 worldwide.
"We are pleased to post another strong quarter, highlighted by record non-GAAP revenue and strong cash generation, while continuing to deliver new and innovative products that are changing the landscape of digital marketing and real-time enterprise analytics," said Jeff Lunsford, chairman and CEO of WebSideStory. "Our customers are now seeing the synergies of the Active Marketing Suite in action, as exemplified by the recent launch of WebSideStory Search 4.0, the first site search solution to automatically integrate site search with web site behavioral data.”