LifeLock, Inc. (NYSE: LOCK), an industry leader in identity theft protection, today announced financial results for the first quarter ended March 31, 2014. Total revenue was $107.6 million for the first quarter of 2014, up 31% from $82.1 million for the first quarter of 2013. Consumer revenue was $101.0 million for the first quarter of 2014, up 34% from $75.1 million for the first quarter of 2013. Enterprise revenue was $6.6 million for the first quarter of 2014, compared with $7.0 million for the first quarter of 2013.
Net Income (Loss): Net loss was $5.2 million for the first quarter of 2014, compared with net loss of $4.1 million for the first quarter of 2013. Net loss per diluted share was $0.06 for the first quarter of 2014 based on 91.9 million weighted-average shares outstanding, compared with net loss per diluted share of $0.05 for the first quarter of 2013 based on 86.6 million weighted-average shares outstanding.
Adjusted Net Income (Loss): Adjusted net loss was $1.0 million for the first quarter of 2014, compared with an adjusted net income of $0.6 million for the first quarter of 2013. Adjusted net loss per diluted share was $0.01 for the first quarter of 2014 based on 91.9 million weighted-average shares outstanding, compared with an adjusted net income of $0.01 per diluted share for the first quarter of 2013 based on 94.6 million weighted-average shares outstanding.
Adjusted EBITDA: Adjusted EBITDA was $0.7 million for the first quarter of 2014, compared with $1.9 million for the first quarter of 2013.
Cash Flow: Cash flow from operations was $18.3 million for the first quarter of 2014, leading to free cash flow of $14.4 million after taking into consideration $3.9 million of capital expenditures. This compares with cash flow from operations of $12.8 million and free cash flow of $11.5 million, after taking into consideration $1.3 million of capital expenditures, for the first quarter of 2013.
Source: LifeLock Earnings Release
