Ancestry.com LLC Reports Second Quarter 2014 Financial Results

The following press release was issued by Ancestry.com:

Q2 Non-GAAP Revenues $156.1 Million, Up 13% Year-Over-Year

PROVO, Utah, July 23, 2014 — Ancestry.com LLC, the world’s largest online family history resource, reported financial results today for the second quarter ended June 30, 2014.
“Despite softer performance in the second quarter, our core subscriber base retention remains solid and the business is healthy,” said Tim Sullivan, Chief Executive Officer of Ancestry.com. “We’re continuing to make strategic investments in content, product and technology as well as new product initiatives like our rapidly growing AncestryDNA business, all of which are designed to drive long-term growth, further strengthen our market leadership, and leverage the benefits of our attractive business model.”

Second Quarter 2014 Financial Highlights

Total revenues and non-GAAP revenues for the second quarter 2014 were each $156.1 million. Non-GAAP revenues increased 13.3% from $137.7 million in the second quarter of 2013 driven by growth in revenues from the Company’s core Ancestry.com branded websites and AncestryDNA.

Net loss for the second quarter of 2014 was $(7.6) million compared to net loss of $(21.3) million in the second quarter of 2013.

Adjusted EBITDA for the second quarter of 2014 was $55.4 million, compared to $54.2 million in the second quarter of 2013. Adjusted EBITDA for the three and six months ended June 30, 2014 includes $2.6 million and $3.5 million, respectively, of professional service fees related to litigation and costs associated with the return of capital transaction declared in February 2014 by our parent. For the three and six months ended June 30, 2013, adjusted EBITDA includes $1.0 million and $2.2 million, respectively, of professional services related to litigation, costs associated with reorganizing our corporate structure and registering the Company’s senior unsecured notes with the SEC.

Free cash flow totaled $10.2 million for the second quarter of 2014, compared to $12.1 million for second quarter of 2013.

Cash and cash equivalents totaled $91.5 million as of June 30, 2014.

Obligations under long-term debt4 totaled $903.3 million as of June 30, 2014.

Ancestry.com Highlights

Subscribers – Subscribers of Ancestry.com websites totaled approximately 2,109,000 as of June 30, 2014, compared to 2,161,000 as of March 31, 2014 and 2,112,000 as of June 30, 2013.

New Content – The Company added more than 700 million new records during the quarter. New records include the final wave of already digitized collections made available through our collaboration with FamilySearch including:

Philippines, Civil Registration, 1888-1981 – 24.2 million records

Czech Republic, Land Records, 1450-1889 (in Czech) – 3.9 million records

Netherlands, Census and Population Registers, 1645-1940 – 2.7 million records

Zimbabwe, Death Notices, 1904-1976 – 329 thousand records

La Libertad, Peru, Civil Registrations 1903-1988 – 1.3 million records

Other new record collections added in Q2 include:

Quaker Birth, Marriage, Death, and Memorial Records, 1650-1910 – 8.5 million records

New York, State Census, 1905 – 7.2 million records

Surrey, England, Land Tax Records, 1780-1832 – 1.9 million records

Puerto Rico, Civil Registrations, 1885-2001 – 5.4 million records

Montana, County Marriages 1865-1950 – 1.9 million records

Michigan, Divorce Records, 1897-1952 – 1.1 million records

Expanded Search Controls – Ancestry.com expanded the functionality of the sliding controls in search results to allow more of the fields entered in the search form to be controlled by sliders – up to 10 fields. Additionally, improvements were added to the display of the fields entered that are not editable with sliders. With this update, users can expand the section of fields below the sliders to see all of the entered search criteria.

Ancestry Mobile App Award – The Ancestry mobile app was a finalist for the 2014 Appy Award for the second year in a row.

AncestryDNA Highlights

Database – DNA database samples at approximately 500,000 to date (cumulative since May 2012), an increase of 25% since April 30, 2014.

Archives Highlights

New Content – Launched ten new vital records collections, with more than 42 million records in total. Included in this release are U.S. Obituaries, South Dakota State Census Records, Idaho Marriage Records, Utah Birth Records, and Utah Federal Service Veterans Burial Records.

Other Business Highlights

Find A Grave – Has now reached a total of 118 million memorials and 96 million photos.

New Mobile App User Profiles – During the quarter, Ancestry.com released several follow-ups to the initial Find A Grave mobile app, which introduced user profiles, including the ability to view, create and add a user’s own profile, as well as the ability to view the profiles of other users.

New Mobile Photo Upload Feature – Additionally, as users take new photos at a cemetery, instead of waiting for each to upload before continuing to use the app, the photos are sent to a queue to be uploaded in the background. As a part of this capability, a user now also has the ability to pause a photo upload queue until connected via Wi-Fi.

Newspapers.com – Now with more than 70 million online newspaper pages, the site recently completed a full digital archive of the Brooklyn Daily Eagle by digitizing negative microfilm of the paper provided by the Library of Congress dating from 1841 to 1955.

Fold3 – Has more than 430 million total records, and in Q2 launched military collections, including rich Civil War records like photos from the New York State Military Museum.

More information, including the financial numbers, may be found at http://goo.gl/nwEIgG.

4 Comments

Did you realize that there is a line missing each time a new page is to start? Quite annoying even when I can sort of guess what the words are! This is in every article.

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Don’t see any missing lines. Does she mean “when she prints, each new page is missing a line?” To read your articles, I can scroll thru it, so there is only one “page”.

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Same as Randy. No pages when read online, nothing missing, don’t print it.

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