Cvent revenue up 27% YoY

Cvent, Inc. (NYSE: CVT) said its second quarter 2014 total revenue was USD34.1m, an increase of 27 percent from the comparable period in 2013.

Platform subscription revenue was USD24.2m, an increase of 29 percent from the comparable period in 2013. Marketing solutions revenue was USD9.9m, an increase of 21 percent from the comparable period in 2013.

GAAP operating income was USD0.9m, compared to a GAAP operating loss of USD(1.3)m in the comparable period in 2013. Non-GAAP operating income was USD2.3m, compared to non-GAAP operating income of USD2.3m in the comparable period in 2013.

GAAP net income was USD1.0m, compared to a GAAP net loss of USD(2.3)m for the comparable period in 2013. GAAP net income per fully diluted share was USD0.02, based on 43.2m weighted average common shares outstanding on a fully diluted basis, compared to GAAP net loss per share of USD(0.07) for the comparable period in 2013, based on 33.1m pro forma diluted weighted average common shares outstanding.

Non-GAAP net income was USD2.4m compared to USD1.4m in the comparable period in 2013. Non-GAAP net income per share was USD0.06, based on 43.2m weighted average common shares outstanding on a fully diluted basis, compared to non-GAAP net income per share of USD0.04 for the comparable period in 2013, based on 34.6m pro forma weighted average common shares outstanding.
Adjusted EBITDA

Cvent is a leading cloud-based enterprise event management platform, offering software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, e-mail marketing and web surveys.

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