NORWALK, Conn., Aug. 22, 2012 (GLOBE NEWSWIRE) -- KAYAK Software Corporation (Nasdaq:KYAK) today announced financial results for the second quarter ended June 30, 2012.
"We're off to a strong start as a public company, with record revenues and adjusted EBITDA," said Steve Hafner, KAYAK Chief Executive Officer and Cofounder. "Our focus remains on ensuring that KAYAK is the best place to plan and book travel globally."
Second Quarter 2012 Financial Results
• Total Revenue: $76.9 million, a 36% year-over-year increase from $56.8 million in the second quarter of 2011.
• Adjusted EBITDA: $20.6 million, an 85% year-over-year increase from $11.1 million in the second quarter of 2011.
• Net Income: $7.3 million, a 93% year-over-year increase from $3.8 million in the second quarter of 2011.
• GAAP EPS: $0.19, as compared to $0.10 in the second quarter of 2011. GAAP EPS is calculated based on GAAP net income divided by 38.6 million and 37.4 million weighted average diluted shares outstanding.
Second Quarter 2012 Operating Metrics
• Total Queries: We processed 304 million queries, a 33% year-over-year increase from 229 million in the second quarter of 2011. Queries refer to user requests for travel information we process through our websites and mobile applications.
• RPM: Revenue per thousand queries, or RPM, was $253, a 2% year-over-year increase from $248 in the second quarter of 2011.
• Mobile: We processed 57 million queries through our mobile applications, a 95% year-over-year increase from the second quarter of 2011. Revenue per thousand mobile queries, or mobile RPM of $46, increased 42% year-over-year from $33 in the second quarter of 2011. Mobile RPM figures are KAYAK's best estimation of revenue per thousand mobile queries based on data provided by those travel partners that delineate between mobile and website travel bookings.
