Spark Networks (NYSE American: LOV), owner of EliteSingles, eDarling, Jdate, Christian Mingle, JSwipe, SilverSingles, and Attractive World, has reported its second half and full year 2017 results.
For the six months ending 31/12/2017, revenue was up 15% to €43.5 million.
This was driven by new subscribers and by the Affinitas-Spark merger.
The release notes: “Revenue in the six months ended December 31, 2017 includes €2.7 million of post-merger revenue from Spark, net of a €603 thousand write-off of deferred revenue relating to the Affinitas / Spark Merger.”
The firm ran at a net loss of €3.9 million, a €4.6 million decline from the six months ending 31/2/2016 and a €2.2 million decline from the six months ending 30/6/2017.
The decline is attributed to higher professional fees resulting from the merger.
For the full year 2017, revenue was up 16.5% to €85.6 million. The net loss came in at €5.6 million, a €6.3 million decline compared to 2016.
“We enter 2018 with three clear priorities, all of which are aimed at positioning Spark Networks for sustainable, long-term, and profitable growth,” says CEO Jeronimo Folgueira.
“First, we aim to build on the consistent growth momentum that Affinitas has achieved over the last several years, driven primarily by the success of EliteSingles. Second, we are taking actions to stabilize and grow the Christian and Jewish brands that were added to our portfolio through the merger with Spark. Finally, we will launch and grow new, complementary brands in key markets such as North America.”
He adds that Spark will look to invest in marketing SilverSingles this year following a successful push for early signups.
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