Trulia posts 2Q14 net loss of $2.4M on rising revenues of $64.1M
Acquisition target posts dramatic web traffic gains
Trulia (TRLA) reported total revenue of $64.1 million, up 116% year-over-year, with a net loss of $17.9 million, compared with a net loss of $2.4 million for the second quarter of 2013.
The firm also reported marketplace revenue of $53.2 million, up 142% year-over-year, and media revenue of $10.9 million, up 41% year-over-year.
“Our business is firing on all cylinders. The focus on a more valuable, more transaction ready consumer paid dividends in Q2, as our marketing campaign accelerated audience growth during the busiest part of the real estate season,” said Pete Flint, Trulia’s CEO. “I’m tremendously excited about joining forces with Zillow. By working together, we will be able to create even more value for home buyers, sellers, and renters, as well as enable our industry partners to grow their businesses even more efficiently.”
Looking ahead, total revenue is expected to be in the range of $68.4 million to $70.4 million. Marketplace revenue is expected to be in the range of 80% to 85% of total revenue.
Operationally, the company posted impressive web site statistics.
- Monthly unique visitors in the second quarter of 2014 were 51.6 million, an increase of 48% from 34.9 million in the same period last year.
- Mobile monthly unique visitors in the second quarter of 2014 were 25.1 million, an increase of 92% from 13.0 million in the same period last year.
- Total subscribers as of June 30, 2014 were approximately 74,000*, an increase from the approximately 67,000* as of March 31, 2014.
- Average monthly revenue per subscriber for the second quarter of 2014 was $206, a 6% increase from $194 in the same period last year and a $10 increase from the first quarter of 2014.
- New contributions to user-generated content totaled approximately 1.3 million in the second quarter of 2014, an increase of 19% from approximately 1.1 million in the same period last year. As of June 30, 2014, this amounted to a cumulative total of more than 14 million contributions to user-generated content.
Mobile product innovation for consumers: Trulia drove mobile audience growth of more than 90% year-over-year in the second quarter, driven by innovations like nearby home alerts, a feature that alerts consumers to any new homes either rentals or homes for sale listed in the last 24 hours. Trulia also demonstrated its culture of innovation by launching a new app for Android Wear that was highlighted at Google I/O 2014, Googles annual developer conference.
Mobile leadership for agents: Trulia extended its mobile leadership in tools for on-the-go agents by launching its first tablet apps for real estate agents, bringing Trulia for Agents to iOS and Android tablets. Agents find the larger displays on tablets particularly helpful for managing their leads and businesses on the go.
Deeper industry relationships: Trulia made significant progress in building deeper industry partnerships and adding to the quality of its data. In July, Trulia announced that it now receives listings data from more than 12,000 brokerages through its Trulia Data Connect program. Trulia Data Connect enables brokers to send listings directly to Trulia, empowering them to take full control over their listings and market them more strategically. Trulia Data Connect feeds are updated as frequently as every eight minutes to ensure the listings are marketed in a timely and accurate manner.