ValueClick Announces Second Quarter 2005 Results

Guide to E-Commerce Technology

Results Exceed Revenue and Profitability Guidance, 2005 Guidance Raised

WESTLAKE VILLAGE, Calif.--Aug. 4, 2005--ValueClick, Inc. (NASDAQ:VCLK) today reported financial results for the second quarter ended June 30, 2005. Performance in the quarter exceeded the Company`s previously issued guidance for revenue, net income per fully diluted common share, and net income before interest, taxes, depreciation, and amortization (EBITDA)(1).

The highlights from ValueClick`s second quarter included:

-- $54.6 million in reported revenue, a 58 percent increase year-over-year;

-- EBITDA of $13.7 million, a 66 percent increase year-over-year;

-- The acquisition of Web Clients for approximately $143 million, which gives ValueClick immediate scale in promotional and industry-focused online content and expands the Company`s existing lead-generation and opt-in email channels;

-- The launch of ValueClick`s PriceRunner comparison-shopping site (www.pricerunner.com) in the U.S., and the expansion of its Commission Junction affiliate marketing solution into France.

"ValueClick`s second quarter demonstrates that we can deliver financial performance while broadening the Company`s online marketing services portfolio through acquisition and organic growth," said James Zarley, chairman and chief executive officer of ValueClick. Our strategy of offering multiple channels of online advertising services enables us to take advantage of the growth opportunities in our industry, and positions us to generate the growth and profitability illustrated in our improved 2005 outlook."

For the quarter ended June 30, 2005, ValueClick reported revenue of $54.6 million, an increase of $20.0 million, or 58 percent, from revenue of $34.6 million for the second quarter of 2004. Second quarter 2005 results include a full quarter of operations from PriceRunner, acquired in August 2004, and one month of operations from E-Babylon, acquired in June 2005. Web Clients, acquired in late June 2005, did not contribute to the Company`s reported second quarter 2005 operating results.

Second quarter 2005 income before taxes was $12.1 million compared to $6.7 million for the second quarter of 2004. Net income for the second quarter of 2005 was $8.1 million, or $0.10 per fully diluted common share, compared to $5.5 million, or $0.07 per fully diluted common share, for the second quarter of 2004. Second quarter 2005 net income before interest, taxes, depreciation, and amortization was $13.7 million, or 25.1 percent of revenue, compared to $8.3 million, or 23.8 percent of revenue, for the second quarter of 2004.

The consolidated balance sheet remained strong with $129.1 million in net cash, cash equivalents and marketable securities, and $420.0 million in total stockholders` equity as of June 30, 2005.

On June 27, 2005, ValueClick announced the completion of its acquisitions of Web Clients and E-Babylon, which included approximately $136.9 million in aggregate cash payments, approximately 1.8 million shares of common stock issued, and approximately 350,000 options to purchase ValueClick common stock converted in these transactions. To finance its recent acquisitions, ValueClick borrowed approximately $91.7 million under a securities repurchase agreement and has pledged approximately $94.2 million of its marketable securities investments as collateral for the loan. The Company anticipates that it will repay the loan over the next twelve months with these marketable securities as they mature and with expected cash generated from operations.

Business Outlook

The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially. These statements do not include the potential impact of any mergers, acquisitions or other business combinations that may be completed after the date of this release.

For the third quarter of 2005, ValueClick anticipates revenue in the range of $78.0 million to $79.0 million, with the mid-point of guidance representing an 80 percent increase from third quarter 2004 revenue. The Company expects fully diluted net income per common share of approximately $0.09 in the third quarter of 2005. EBITDA for the third quarter of 2005 is expected to be in the range of $18.0 million to $19.0 million.

About ValueClick
ValueClick, Inc. (NASDAQ:VCLK) is the single-source provider of media, technology and related services that enable advertisers, agencies and publishers to reach consumers in all major online marketing channels, through three business units:

-- ValueClick Media (http://media.valueclick.com) provides brand advertising and direct marketing solutions for advertisers, agencies and publishers. Through its ValueClick Brand, ValueClick Direct, ValueClick Search, and Web Clients groups, ValueClick Media offers marketers a wide range of distribution methods, including web-based advertising, co-registration, pay-per-click search, and a variety of email marketing options.

ValueClick Media also includes PriceRunner.com (www.pricerunner.com), a leading global provider of online comparison-shopping services.

-- Commission Junction (www.cj.com) provides advanced performance marketing solutions that help marketers increase online leads and sales. By facilitating strategic relationships between advertisers and publishers, Commission Junction leverages its proven expertise in affiliate marketing and search marketing to drive measurable results for its clients.

-- Mediaplex (www.mediaplex.com) provides technology and services that help advertisers, agencies and publishers manage their online advertising and permission-based email campaigns. Additionally, Mediaplex provides the AdVault suite of software and services that help advertising agencies and other companies operate their businesses more efficiently, through effective agency management, media management, and content management solutions.

For more information, please visit www.valueclick.com.

This release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, trends in online advertising spending and estimates of future online performance-based advertising. Actual results may differ materially from the results predicted, and reported results should not be considered an indication of future performance. Important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are detailed under "Risk Factors" and elsewhere in filings with the Securities and Exchange Commission made from time to time by ValueClick, including its Annual Report on Form 10-K filed on March 31, 2005, recent quarterly reports on Form 10-Q and current reports on Form 8-K. Other factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include, but are not limited to, the risk that market demand for online advertising, and performance-based online advertising in particular, will not grow as rapidly as predicted. ValueClick undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

(1)EBITDA is defined as GAAP (generally accepted accounting principles) net income before interest, taxes, depreciation, and amortization. Please see the attached schedule for a reconciliation of EBITDA to GAAP net income and a discussion of why the Company believes EBITDA is a useful financial measure to investors and how it is used by management.