Stamps.com: e-commerce has become an indispensable strategy for businesses
Stamps.com has revealed its total revenue for the first quarter of 2020 was $151.3 million, up 11% compared to 2019.
First Quarter 2020 Financial Highlights
- GAAP net income was $16.5 million, up 5% compared to $15.8 million in the first quarter of 2019.
- GAAP net income per fully diluted share was $0.91, up 4% compared to $0.87 in the first quarter of 2019.
- Non-GAAP adjusted EBITDA was $41.5 million, up 6% compared to $39.2 million in the first quarter of 2019.
- Non-GAAP adjusted income per fully diluted share was $1.32, up 7% compared to $1.23 in the first quarter of 2019.
Ken McBride, Stamps.com’s Chairman and CEO said: “Amidst the unprecedented challenges imposed by COVID-19 on the global economy, e-commerce has become an indispensable strategy for businesses and we’re extremely proud that our world leading technology and employees are able to provide a critical technology service for our customers and partners.
“Stamps.com is prioritising our employees, customers, partners, and communities, while continuing to provide exceptional service levels and support to our customers and partners. We are in a position to provide valuable services to mailers and shippers coping with this worldwide health crisis and remain committed to making significant strides towards our goal of being the leading worldwide multi-carrier e-commerce software company.”
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