Stamps.com net income down 73% in Q3 results
Stamps.com, provider of postage online and shipping software, has announced results for the quarter ended 30 September, 2019.
Third Quarter 2019 Financial Highlights
- Total revenue was $136.2 million, down 5% compared to $143.5 million in the third quarter of 2018.
- GAAP net income was $9.1 million, down 73% compared to $33.4 million in the third quarter of 2018.
- GAAP net income per fully diluted share was $0.52, down 70% compared to $1.75 in the third quarter of 2018.
- Non-GAAP adjusted EBITDA was $34.5 million, down 43% compared to $61.0 million in the third quarter of 2018.
- Non-GAAP adjusted income per fully diluted share was $1.12, down 60% compared to $2.76 in the third quarter of 2018.
“In our ongoing efforts to evolve our strategy to more fully embrace a global multi-carrier and e-commerce services focused business model, we achieved a significant milestone with the recent announcement of our new partnership with UPS,” said Ken McBride, Stamps.com’s Chairman and CEO. ”We’re excited about this new collaboration and view it as a meaningful step in our strategy to diversify our carrier relationships.”
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