Drugstore.com’s revenue grows 30% in Q1, while loss narrows sharply

First quarter revenue at Drugstore.com Inc. grew 30% over first quarter of last year to $57 million, the company reported today. Net loss for the quarter totaled $5.6 million down from a loss of $23.5 million in the year-ago quarter.

Drugstore also reported that its active customer base in the last 12 months increased to 1.27 million from 1.21 million a year ago. The average annual spending per customer increased 9.4% to $163 from $149. Marketing and sales expenses for each new customer dropped to $16 from $42, the company reported.

“I am proud of our continued growth in this challenging economic environment, and I am very pleased that we are making meaningful progress toward our strategic objectives to improve customer retention, leverage our platform through new and existing partnerships, and to broaden our assortment of high margin products,” said Kal Raman, president and CEO. “By meeting these objectives, we believe the company will be well positioned to achieve its financial target of becoming profitable on an EBITDA basis in the fourth quarter of this year.”