SPARK NETWORKS NEWSROOM -- Feb 16 -- "2005 was a turnaround year in which we made significant strides towards right-sizing our cost structure and generating cash flow from operations," stated David Siminoff, Spark Networks CEO. "We begin 2006 newly listed on the American Stock Exchange. We are energized by recent technology improvements and are poised for balanced growth with significant operating leverage." "Our next level of growth will come from leveraging the communities we acquired in the MingleMatch acquisition in order to move quickly into new vertical markets..."
Record results for JDate. Revenue grew 9%, to $26 million. Other Businesses segment grew by 72%, partially driven by the purchase of MingleMatch in Q2. Q4 revenue was $16.6 million, down 3%. 2005 revenue was $65.5 million, up 1%. Q4 net loss was $403,000, compared to a net loss of $1.6 million. 2005 net loss was $1.4 million, compared to a net loss of $11.6 million for 2004. The net loss for 2005 includes compensation expense related to share options of $2.7 million. EBITDAS (EBITDA adjusted to remove share compensation expense) for Q4 was $2.0 million, compared to $7,000 for Q4 2004. EBITDAS for 2005 was $6.0 million, compared to an EBITDAS loss of $6.0 million in 2004.
Q4 2005 revenue for AmericanSingles was $6.7 million, down 22%. 2005 revenue was $29.2 million, down 17%. Jdate average paying subscribers was 73,700, during Q4, up 8%. AmericanSingles average paying subscribers in Q4 was 91,900, down 29%. Q4 average paying subscribers for Other Businesses
was 58,600, up 88%. Total Q4 average paying subscribers for Q4 was 224,200, down 2%.
Direct subscriber acquisition costs for JDate in Q4 was $12.25, up 15%. For 2005 it was $12.70, up 57%. "...the marketing mix has shifted from a primarily online, direct marketing effort to one that now includes a wide mix of offline initiatives..." stated Siminoff. Subscriber acquisitoin costs for AmericanSingles in Q4 was $36.66, compared to $36.52 for Q4 2004. For 2005 it was $35.16, down 19%, compared to $43.29, for 2004. And for Other Businesses in Q4 it was $29.73. RELEASE @ SPARK NETWORKS NEWSROOM
Mark Brooks: Spark is focusing more on it's niche businesses and Minglematch sites. They are admirers of Friendfinder's business model.
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