Analytics and web site optimization services provider Omniture Inc. more than doubled its revenue in 2008 from 2007—to $296 million from $143 million, up 107%. However, the company expanded its net loss for the year, to $44.8 million from $9.4 million. Omniture says it experienced a loss because of acquisitions.
Revenue in the fourth quarter reached $83.0 million compared to $43.1 million in the fourth quarter of 2007 and $77.8 million in the third quarter of 2008. Organic sales growth, which Omniture defines as revenue growth excluding the acquired revenues of products from the Offermatica, Visual Sciences, and Mercado acquisitions was 46% year-over-year in the fourth quarter and 51% for the year.
Q4 net loss was $8.1 million compared to a net loss of $1.8 million a year earlier.
Adjusted EBITDA, which Omniture defines as loss from operations on a GAAP basis less depreciation and amortization, stock-based compensation and an acquisition-related adjustment to deferred revenue, was $17.3 million in Q4 and $59.4 million for the year. EBITDA stands for earnings before interest, taxes, depreciation and amortization.
During the fourth quarter of 2008, Omniture added more than 250 customers, bringing its total to more than 5,100.
The company says it expects Q1 revenue to be between $85 million and $87 million with a net loss of $7.5 million to $8.3 million.
"We are seeing real proof points that our transition from a web analytics company to an optimization company has been completed. For example, our annual deal size has increased by over 50% from 18 months ago and 50% of our bookings are now coming from upsells and cross-sells of optimization products to our existing customers," says Josh James, CEO and co-founder. "2009 is about tying together the many building blocks we have assembled, including expanding our partner ecosystem, and focusing on delivering even deeper integration with our products for our loyal enterprise customers."
Omniture has said in the past it is working to move more towards helping its clients apply what they learn from analytics to their business strategies and web sites.
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