Active Network Inc. (NYSE: ACTV) director Bruns Grayson bought 25,000 shares of ACTV common stock recently.
Graysonâ€™s purchase came a few days after Active Network reported its second-quarter financial results.
ACTV, which provides organization-based cloud computing applications serving a range of customer groups, reported total net revenue of $121.6 million for the second quarter of 2012, compared to $99 million reported for the same period in the previous year.
ACTVâ€™s technology revenue accounted for 89% of the total revenue and rose 26% over the second quarter of 2011. Net registration revenue for the quarter was $83.9 million, representing an increase of 20% over the same period in the previous year. Marketing services revenue for the quarter accounted for 11% of the total net revenue for the second quarter.
Active Network reported a net loss of $2.3 million for the second quarter of 2012, compared to net income of $5.5 million reported for the same period in the previous year.
Adjusted EBITDA for the second quarter of 2012 was $20.2 million.
Dave Alberga, CEO of Active Network, said that ACTV delivered strong second quarter with record revenue of $121.6 million, representing an increase of 23% over the same period in the previous year. Alberga said that during the quarter, ACTV achieved an important technology milestone by launching the first Hunting and Fishing permitting application built on the ACTIVE WorksÂ® platform. Alberga added that ACTVâ€™s customer base continues to expand and the company remains focused on strengthening its position as the leading cloud-based provider of activity and participant management solutions.
Looking ahead to the third quarter of 2012, ACTV expects total revenue to be in the range of $108 million to $111 million. Registrations are expected to rise between 13% and 15% in the third quarter. Adjusted EBITDA for the quarter is expected to be between $14 million and $16 million.
For the full year, ACTV expects total revenue to be in the range of $425 million to $430 million.
ACTV shares ended 0.35% lower at $11.50 in trading on Friday. The stock has fallen 15.44%, year-to-date.