Bazaarvoice, Inc. (BV) saw its loss narrow to $4.13 million, or $0.05 a share for the quarter ended Oct. 31, 2016. In the previous year period, the company reported a loss of $4.85 million, or $0.06 a share. On an adjusted basis, net profit for the quarter was $1.44 million, when compared with net loss $0.37 million in the last year period.
Revenue during the quarter went up marginally by 0.97 percent to $50.41 million from $49.93 million in the previous year period. Gross margin for the quarter expanded 94 basis points over the previous year period to 62.60 percent. Operating margin for the quarter stood at negative 6.89 percent as compared to a negative 8.52 percent for the previous year period.
Operating loss for the quarter was $3.47 million, compared with an operating loss of $4.25 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $5.16 million compared with $3.09 million in the prior year period. At the same time, adjusted EBITDA margin improved 404 basis points in the quarter to 10.24 percent from 6.19 percent in the last year period.
"The second quarter was another good quarter for Bazaarvoice, as we delivered stronger dollar retention and overall bookings growth year-over-year. We also achieved strong year-over-year Adjusted EBITDA growth and our fifth straight quarter of positive operating cash flow as we continue to improve the margin profile of the business," said Gene Austin, chief executive officer and president. "We believe our large and growing network of retailers and brands and our unique insights into shopping behavior across the network provide us with an exciting long term growth opportunity."
Operating cash flow drops significantly
Bazaarvoice, Inc. has generated cash of $1.72 million from operating activities during the first half, down 75.68 percent or $5.35 million, when compared with the last year period.
Cash flow from investing activities was $3.97 million for the first half as against cash outgo of $5.06 million in the last year period.
The company has spent $4.28 million cash to carry out financing activities during the first six months as against cash inflow of $2.11 million in the last year period.
Cash and cash equivalents stood at $44.43 million as on Oct. 31, 2016, down 23.50 percent or $13.65 million from $58.07 million on Oct. 31, 2015.
Working capital drops significantly
Bazaarvoice, Inc. has witnessed a decline in the working capital over the last year. It stood at $47.75 million as at Oct. 31, 2016, down 31.36 percent or $21.81 million from $69.56 million on Oct. 31, 2015. Current ratio was at 1.56 as on Oct. 31, 2016, down from 1.81 on Oct. 31, 2015.
Days sales outstanding were almost stable at 80 days for the quarter, when compared with the last year period.
At the same time, days payable outstanding went down to 17 days for the quarter from 26 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 Oct. 31, 2016, down 35.09 percent or $20 million from $57 million on Oct. 31, 2015. Bazaarvoice has recorded a decline in long-term debt over the last one year. It stood at $37 million as on Oct. 31, 2016, down 35.09 percent or $20 million from $57 million on Oct. 31, 2015. Total debt was 11.76 percent of total assets as on Oct. 31, 2016, compared with 17.02 percent on Oct. 31, 2015. Debt to equity ratio was at 0.20 as on Oct. 31, 2016, down from 0.31 as on Oct. 31, 2015.
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