Points International Ltd., a loyalty reward solutions provider and owner of Points.com, reported record first quarter revenue of $16.2 million, up 260% from $4.5 million a year earlier.
Net income totaled $801,760 for the first quarter, compared to a net loss of $793,852 in the year-ago period, and a net loss of $953,892 in the fourth quarter of 2007.
The company processed more than 3.2 billion points/miles, representing more than $60 million in aggregate transaction value, for total cumulative points/miles transacted on Points.com and through partner channels of 37.3 billion. The total number of transactions increased 28% year-over-year to 356,000.
Transactions on products distributed through partner channels rose 17% to 2.8 billion during the quarter, for a cumulative total of 32.8 billion. Amazon.com, No. 1 in the Internet Retailer Top 500 Guide, and Starbucks are among Points.com’s points redemption partners.
Cumulative points/miles transacted during the first quarter on Points.com totaled 4.4 billion, up 51% from 2007. Registered users on Points.com increased 18% year-over-year to 1.9 million.
“Record revenue, profitability and business metrics kicked off a strong 2008 for Points,” says CEO Rob MacLean.