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Active Network widens third quarter net loss

Active Network (NYSE: ACTV), specializing in cloud-based activity and participant management, has announced financial results for the third quarter ended Sept. 30.

According to a release, the company increased its total net revenue 22 percent as compared to third quarter 2011, to $109.2 million. The company's technology revenue jumped 26 percent and constituted an 88 percent share of the total.

Net loss for the quarter was $6.0 million, compared to a net loss of $1.4 million in third quarter 2011.

Internal expectations for the fourth quarter are for Active Network to have a total revenue in the range of $93 million to $97 million, with registrations expected to grow approximately 5 percent to 10 percent and revenue per registration expected to grow approximately 8 percent to 10 percent, as compared to the same period in 2011. The company expects a net loss of $18 million to $13 million.

With its third quarter report, the company also introduced initial financial guidance for full year 2013, estimating total revenue in 2013 of $470 million to $480 million with a net loss of $38 million to $31 million.

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