ChannelAdvisor Reports Third Quarter 2018 Results Revenue and adjusted EBITDA exceed expectations for the third consecutive quarter


ChannelAdvisor Corporation (NYSE: ECOM), a leading provider of cloud-based e-commerce solutions ChannelAdvisor delivered its third consecutive quarter of exceeding expectations for revenue and adjusted EBITDA, said David Spitz, Chief Executive Officer of ChannelAdvisor. Our third quarter top-line results were driven by continued strength in GMV, improved revenue retention and increased strategic partnership revenue, which, when combined with our efforts to control our expenses, led to adjusted EBITDA out-performance as well. We remain committed to delivering revenue growth and margin expansion. With a product strategy focused on initiatives to help brands and manufacturers effectively compete in the rapidly evolving digital economy, we believe we have positioned ourselves to capitalize on serving this key customer segment. We believe this strategy, coupled with our efforts to improve direct sales efficiencies and expand indirect channels, provides us with a solid Revenue: Total revenue was $32.3 million for the third quarter 2018, an increase of 7.4% from the year-ago period. Fixed subscription fees were $25.7 million, or 79.5% of total revenue, an increase of 7.6% from the year-ago period. Variable subscription fees were $6.6 million, or 20.5% of Gross Profit: GAAP gross profit was $24.7 million, representing a 76.5% gross margin for the third quarter 2018, compared with $22.8 million and 75.7%, respectively, for the year-ago period. Non-GAAP gross profit was $25.0 million, representing a 77.4% non-GAAP gross margin for the third …

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Source: US SEC
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