Ancestry.com LLC reported financial results today for the first quarter ended March 31, 2016:
– First Quarter Revenues $196.5 million, Up 19.4% Year-Over-Year; Up 21.2% on Constant Currency Basis –
– First Quarter Adjusted EBITDA $70.1 million, Up 13.1% Year-Over-Year(1) –
“We had a strong start to 2016, led by the continued momentum of AncestryDNA and accelerating revenue growth in our family history business,” said Tim Sullivan, Chief Executive Officer of Ancestry.com. “This is an exciting time for Ancestry. We’re seeing tremendous interest in our products and services, illustrated by steady subscriber gains and growth in our DNA database, which is quickly approaching two million DNA samples. We are focused on capitalizing on this momentum through sound execution of our strategy, targeted investments in initiatives to drive growth, diversified revenue streams and even better customer experiences across our portfolio of businesses.”
First Quarter 2016 Financial Highlights
Total revenues for the first quarter of 2016 were $196.5 million compared to $164.6 million in the first quarter of 2015, driven by growth in revenues from AncestryDNA and the core Ancestry websites. On a constant currency basis, first quarter 2016 total revenues would have increased 21.2% year-over-year.
Net income for the first quarter of 2016 was $12.4 million compared to $2.8 million in the first quarter of 2015.
Adjusted EBITDA(1), (2) for the first quarter of 2016 was $68.2 million compared to $61.7 million in the first quarter of 2015. Excluding the impact of one-time expenses, adjusted EBITDA for the first quarter of 2016 increased 13.1% year-over-year, to $70.1 million.
Free cash flow(3) for the first quarter of 2016 was $46.3 million compared to $43.5 million for the first quarter of 2015.
Cash and cash equivalents totaled $176.8 million as of March 31, 2016.
Obligations under long-term debt(4) totaled $1.0 billion as of March 31, 2016.
The full quarterly financial results are lengthy and can be found at http://goo.gl/RhcFnZ.