3-6-2012
Those were the words of CEO Joe Kennedy as he reported quarterly numbers to investors and analysts last night. "Pandora has only just begun to realize the potential of our $37 billion U.S. market opportunity," he added. Active users were reported to be 47 million, growing 62% year-over-year. Pandora reported it generated $240 million in ad revenue this past year (radio advertising in 2011 totaled $17.4 billion according to the RAB). Total listener hours grew 99% to approximately 2.7 billion for the fourth quarter of fiscal 2012, compared to approximately 1.3 billion for the fourth quarter of fiscal 2011.
Here are some of the numbers Pandora reported for the quarter that just ended:
-- Fiscal 2012 revenue of $274.3 million grew 99% year-over-year
-- 4Q12 revenue of $81.3 million grew 71% year-over-year
-- Fiscal 2012 total listener hours of 8.2 billion grew 109% year-over-year
-- 4Q12 total listener hours of 2.7 billion grew 99% year-over-year
-- Record 69.8% share of top 20 U.S. Internet radio services grew from 58.3% at the end of fiscal 2011
-- Record 5.55% share of total U.S. radio listening more than doubled from 2.71% at the end of fiscal 2011
-- Active users reach record 47 million growing 62% year-over-year
-- For the fiscal year 2012, total listener hours grew 109% to approximately 8.2 billion, compared to approximately 3.8 billion for the fiscal year 2011.
-- Total Revenue: For the fourth quarter of fiscal 2012, total revenue was $81.3 million, a 71% year-over-year increase. Advertising revenue was $72.1 million, a 74% year-over-year increase. Subscription and other revenue was $9.2 million, a 51% year-over-year increase.
The company ended the fourth quarter of fiscal 2012 with $90.6 million in cash, cash equivalents and short-term investments, compared with $90.8 million at the end of the prior quarter. For the fourth quarter of fiscal 2012, Pandora generated approximately $2.4 million in cash from operating activities, compared to $1.0 million generated in the year-ago quarter. For the 2012 fiscal year, Pandora generated approximately $5.9 million in cash from operating activities compared to generating $3.2 million in cash from operating activities in fiscal 2011.
1Q13 Guidance: Revenue is expected to be in the range of $72 million to $75 million. Non-GAAP net loss per share is expected to be between ($0.18) and ($0.21). Non-GAAP net loss per share excludes stock-based compensation expense, assumes minimal tax expense given our net operating loss position, and 164 million weighted average shares outstanding for the first quarter fiscal 2013.
Fiscal 2013 Guidance: Revenue is expected to be in the range of $410 million to $420 million. Non-GAAP net loss per share is expected to be between ($0.11) and ($0.16). Non-GAAP net loss per share excludes stock-based compensation expense, assumes minimal tax expense given our net operating loss position, and 166 million weighted average shares outstanding for fiscal 2013.
(3/7/2012 6:29:34 PM)
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