Trulia, Inc. (TRLA)
Q2 2013 Results Earnings Call
July 31, 2013 5:00 PM ET
Ian Lee - Head, Investor Relations
Pete Flint - Chief Executive Officer
Sean Aggarwal - Chief Financial Officer
Lloyd Walmsley - Deutsche Bank
Mark Mahaney - RBC Capital Markets
Douglas Anmuth - JPMorgan
Ralph Schackart - William Blair
Kerry Rice - Needham
Deb Schwartz - Goldman Sachs
John Berg - Morgan Stanley
James Cakmak - Telsey Advisory Group
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I would now like to hand the call over to Mr. Ian Lee, Trulia’s Head of Investor Relations. Please proceed.
Thank you, Operator. Good afternoon. And welcome to Trulia's second quarter 2013 earnings call. Joining me today are Pete Flint, Trulia's Chief Executive Officer; and Sean Aggarwal, our Chief Financial Officer.
Before we start this call, I want to remind all of you that this presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or our future financial or operating performance.
Forward-looking statements in this presentation include, but are not limited to, statements related to our business and financial performance and expectations for future periods, our expectations regarding our continued focus on our current strategy, our expectations regarding macro trends in the market, and our expectations for our products.
Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
These risks include those set forth in the press release that we issued earlier today, as well as those more fully described in our filings with the Securities and Exchange Commission.
The forward-looking statements in this presentation are based on information available to us as of the date hereof and we disclaim any obligation to update any forward-looking statements except as required by law.
We also remind you that this call will include discussion of GAAP and non-GAAP financial measures. The non-GAAP financial measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP.
A discussion of why we present non-GAAP financial measures and a reconciliation of the non-GAAP financial measures discussed in this call to the most directly comparable GAAP financial measures are included in our earnings press release that is available on our website. This conference call is also being webcast and is available through the Investor Relations section of Trulia's website.
And now, I'll turn the call over to Pete.
Welcome and thank for joining our Q2 2013 earnings call. I’m pleased to say we had another outstanding quarter for Trulia, a record quarter in which we demonstrate the incredible momentum we are seeing across all aspects of our business.
We have record revenue of $29.7 million. We added a record number of subscribers by adding approximately 4,200 premier subscribers during the quarter and ARPU increased to $194.
And finally, we announced an acquisition that will transform the category as we know it while firmly position Trulia as a category leader, creating the only company capable of providing real estate professionals with a comprehensive end-to-end solution on which they can grow and manage their business.
As a company, we are focused on boarding the most vibrant and valuable marketplace. Our vision for transformative real estate industry is built on three key parts. First, deliver consumers a [killer] user experience. We provide issue have something with insights not just in properties but our neighborhood and our agents across the country.
Next, create value and be the leading partner for the industry. For agents, we may providing them with the industry’s first ever end-to-end offering, an offering that includes superb marketing tools, the boarder suite of software to help them build and manage their business. For franchises and brokers we are building strategic partnerships that create opportunities to increase their visibility and provide additional value to their agents.
And third, extend our marketplace into adjacent markets, including rentals and mortgages. D&A is an engineering company enables us to create a strong platform both for adjacent expansion that drives value for the entire Trulia ecosystem.
Today, I’ll give you a recap of the quarter and put this in context that how we are executing against the three parts of our vision. I’ll then pass the call on to Sean for financial details.
As a company, we believe by building the best consumer experience in the category will create brand loyalty. The first part of our vision is to create the best user experience and as I said earlier that means delivering not data but also insights in homes, neighborhood and an agents.
This past quarter we rolled out several new product innovations that help us deliver on our vision to anticipate in the kind of tools consumers want when they are searching for home, a neighborhood or an agent.
In addition to the hyper local neighborhood crime, school, commuter and property value data insights we are providing for some time, we took our industry-leading interactive maps to the next level. Our enhance maps now visualize historical earthquake and flood data to depict the risk on this natural disasters on the block by block level. The interactive maps are core part of our mobile experience and they deliver insights of what’s happening right where the consumer is standing.