Trulia: Record 4Q Revenue $20.6M

Gordana Davila

February 12, 2013

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Trulia, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2012.

“2012 was a milestone year for Trulia,” said Pete Flint, Chief Executive Officer of Trulia. “We helped a record number of consumers find a great place to live, while connecting over 24,400 subscribers with those transaction-ready consumers. We finished the year on a resounding note, achieving record quarterly revenue, a rapid increase in mobile traffic, and strong subscriber growth. We are well positioned to grow in 2013 as the real estate market continues its recovery.”

Fourth Quarter 2012 Financial Highlights

  • Total revenue for the fourth quarter of 2012 was $20.6 million, an increase of 75% year-over-year.

    • Marketplace revenue of $13.9 million, up 90% year-over-year.
    • Media Revenue of $6.7 million, up 51% year-over-year.

  • Net loss attributable to common stockholders for the quarter was $1.6 million, or $0.06 per share on a basic and diluted basis, compared with $2.1 million, or $0.30 per share on a basic and diluted basis, in the fourth quarter of 2011.
  • Adjusted EBITDA for the quarter was $0.6 million, compared with -$0.7 million in the fourth quarter of 2011.
  • Pro forma net loss attributable to common stockholders for the quarter was $0.8 million, or $0.03 per share on a basic and diluted basis, compared with $1.7 million, or $0.25 per share on a basic and diluted basis, in the fourth quarter of 2011.

Full Year 2012 Financial Highlights

  • Total revenue for the full year 2012 was $68.1 million, an increase of 77% year-over-year.

    • Marketplace Revenue of $45.5 million, up 104% year-over-year.
    • Media Revenue of $22.6 million, up 39% year-over-year.

  • Net loss attributable to common stockholders for the year was $10.9 million, or $0.87 per share on a basic and diluted basis, compared with $6.2 million, or $0.92 per share on a basic and diluted basis, in the fourth quarter of 2011.
  • Adjusted EBITDA for the full year was -$3.4 million, compared with -$1.8 million in 2011.
  • Pro forma net loss attributable to common stockholders for the year was $8.4 million, or $0.67 per share on a basic and diluted basis, compared with $4.7 million, or $0.70 per share on a basic and diluted basis, in the fourth quarter of 2011.

Key Business Metrics – Fourth Quarter 2012

  • Monthly unique visitors in the quarter were 23.6 million, an increase of 50% from 15.7 million in the same period last year.
  • Mobile monthly unique visitors in the quarter were 5.8 million, an increase of 119% from 2.6 million in the same period last year.
  • Total subscribers at the end of the quarter were 24,443, a 45% increase from 16,849 in the same period last year.
  • Average monthly revenue per subscriber for the quarter was $172, a 46% increase from $118 in the same period last year.
  • New contributions to user-generated content totaled approximately 810,000 during the quarter, an 84% increase from approximately 441,000 in the same period last year. As of December 31, 2012, this amounted to a cumulative total of more than seven million contributions.

Selected Business Highlights

Trulia announced several innovations during the quarter:

  • PRIMEDIA Strategic Partnership: Trulia announced a strategic partnership with PRIMEDIA, parent of Apartment Guide, enabling Apartment Guide’s collection of information and listings to become the exclusive multi-family inventory on Trulia. Trulia users can access photos and floor plans from more than 20,000 multi-family apartment communities and approximately 5 million units from ApartmentGuide.com, in addition to Trulia’s current rental inventory. The companies also formed the Trulia-PRIMEDIA Network, with Trulia selling display advertising and other media products on behalf of PRIMEDIA, and allowing advertisers to reach more than 32 million unique monthly visitors across Web and mobile platforms.
  • Trulia Mortgage Center: Trulia rolled out the Trulia Mortgage Center to help prospective homebuyers and homeowners find the best financing deal. The Mortgage Center provides personalized mortgage quotes that are updated in real-time and presented with detailed information about each quote. The online mortgage marketplace is available online at Trulia.com and through the Trulia Mortgage App for iPhone, iPad and iPod touch.
  • Windows 8 Trulia app: Trulia launched a custom real estate app for Windows 8, just in time for the new Windows 8 devices that arrived during the 2012 holiday season. The app provides a gallery of photos that highlights houses for sale and rent, along with new listings as they hit the marketplace.

Outlook – First Quarter 2013

Trulia is providing revenue and Adjusted EBITDA outlook for the first quarter of 2013 as follows:

  • Revenue is expected to be in the range of $20.8 to $21.2 million. This represents 71% to 74% year-over-year growth.
  • Adjusted EBITDA is expected to be in the range of $0.8 to $1.2 million. This represents 4% to 6% of revenue.

Gordana Davila

February 12, 2013

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Acerca de Lucas Vargas:

  • Empezó en Grupo ZAP como el VP de Sales y en 2016 cuando la empresa tenía 60 empleados. Fue nombrado COO de VivaReal tomando el mando de Brian Requarth el Co-Fundador. VivaReal lanzó en Colombia y se trasladó a Brasil. En 2017 se hizo CEO del Grupo ZAP.
  • Ha trabajado en Mexico en PWC y en el Banco Santander
  • Tiene un Master de Business Administration de Harvard
  • En noviembre este año después de la fusión de OLX Brasil y Grupo ZAP fue nombrado el CEO del OLX Business Unit. Lidera la empresa junto con Andries Oudshoorn y Marcos Leite
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Simon Baker is the Founder and Executive Chairman of Online Marketplaces and Property Portal Watch. Involved with property portals for 15 years, he’s a well-recognized expert and industry consultant.
As former CEO/MD of the REA Group for 8 years, Simon led the group to its current market-leading position. When he joined REA Group in 2001, it had $4m in revenues, $6m in losses and an $8m market cap.
By 2008, the company presided over $155m in revenues, $35m in EBITDA and enjoyed a peak market cap of $1b. Simon is currently Chairman of the Mitula Group and Real Estate Investar and a serial portal founder and, investor.