Bazaarvoice Inc (BV) saw its loss narrow to $2.73 million, or $0.03 a share for the quarter ended Jan. 31, 2017. In the previous year period, the company reported a loss of $3.11 million, or $0.04 a share. On the other hand, adjusted net income for the quarter stood at $1.82 million, or $0.02 a share compared with $1.45 million or $0.02 a share, a year ago.
Revenue during the quarter went up marginally by 0.54 percent to $50.52 million from $50.26 million in the previous year period. Gross margin for the quarter contracted 35 basis points over the previous year period to 62.01 percent. Operating margin for the quarter stood at negative 4.50 percent as compared to a negative 5.09 percent for the previous year period.
Operating loss for the quarter was $2.27 million, compared with an operating loss of $2.56 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $5.31 million compared with $5.05 million in the prior year period. At the same time, adjusted EBITDA margin improved 47 basis points in the quarter to 10.52 percent from 10.04 percent in the last year period.
“I am pleased with the overall progress we are making to transform the business, highlighted by continued improvement in our SaaS client and dollar retention, as well as 37% year over year advertising revenue growth in the third quarter," said Gene Austin, chief executive officer and president. “We are in the early stages of leveraging our three strategic assets including our CGC expertise, our growing network and our unique shopper data, and are excited that our revenue growth rates should increase next fiscal year."
Operating cash flow drops significantly
Bazaarvoice Inc has generated cash of $0.59 million from operating activities during the nine month period, down 96.03 percent or $14.35 million, when compared with the last year period.
The company has spent $1.74 million cash to meet investing activities during the nine month period as against cash outgo of $13.37 million in the last year period.
The company has spent $3.70 million cash to carry out financing activities during the nine month period as against cash inflow of $2.78 million in the last year period.
Cash and cash equivalents stood at $38.29 million as on Jan. 31, 2017, down 33.92 percent or $19.66 million from $57.94 million on Jan. 31, 2016.
Working capital drops significantly
Bazaarvoice Inc has witnessed a decline in the working capital over the last year. It stood at $13.43 million as at Jan. 31, 2017, down 80.20 percent or $54.42 million from $67.85 million on Jan. 31, 2016. Current ratio was at 1.10 as on Jan. 31, 2017, down from 1.76 on Jan. 31, 2016.
Days sales outstanding went up to 81 days for the quarter compared with 70 days for the same period last year.
At the same time, days payable outstanding went down to 30 days for the quarter from 32 for the same period last year.
Debt comes down significantly
Bazaarvoice Inc has recorded a decline in total debt over the last one year. It stood at $37 million as on Jan. 31, 2017, down 35.09 percent or $20 million from $57 million on Jan. 31, 2016. Short-term debt stood at $37 million as on Jan. 31, 2017. Total debt was 11.38 percent of total assets as on Jan. 31, 2017, compared with 16.71 percent on Jan. 31, 2016. Debt to equity ratio was at 0.20 as on Jan. 31, 2017, down from 0.31 as on Jan. 31, 2016.
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