Personally I think these are very solid results for TPW and one again they under promised and over delivered. In their 1H results conference call and their presentation, they have stated more than once that they expected to achieve a EBITDA margin of low single digit (in the range of 2-4%), because they were prioritizing growth. Now with revenu of $326M and EBIDTA of $20M, that's a EBITDA margin of 6.1%. They have nearly $100M cash sitting on their balance sheet, implying ample space of growth opportunities for them to explore. One just has to check on Alexa ranking to see how much they've improved their user-experience in the past 3 months, as indicated by average time spent on the website, average number of pages viewed and bounce rate. This is the most telling evidence of how effective they've been in their investment in marketing.
All IMHO. DYOR.
TPW Price at posting:
$12.41 Sentiment: Buy Disclosure: Held
