Bazaarvoice Inc (NASDAQ:BV) issued its financial report for the second fiscal quarter closed October 31, 2017. Revenue came at $53.4 million for Q2 2018, up 6% from Q2 2017, which comprised of net advertising revenue of $2.9 million and SaaS revenue of $50.5 million.
Bazaarvoice reported that GAAP net loss came at $0.1 million versus $4.1 million for Q2 2017. GAAP net loss came at $0.00 per share based upon weighted average shares due of 85.6 million, versus a GAAP net loss of $0.05 per share for Q2 2017 depending upon weighted average shares due of 82.9 million. Adjusted EBITDA was $9.3 million for Q2 2018 versus $5.2 million for Q2 2017.
Non-GAAP net income came at $5.4 million against non-GAAP net income of $1.4 million for Q2 2017. In per share terms, non-GAAP net income was $0.06 a share based upon weighted average shares due of 85.6 million, versus non-GAAP net income of $0.02 per share for Q2 2017 depending upon weighted average shares due of 82.9 million.
Earlier Bazaarvoice reported that it has finalized a definitive deal to be bought by Marlin Equity Partners in a deal valued at around $521 million. Under the terms of the deal, Bazaarvoice stockholders will get $5.50 in cash for per share of Bazaarvoice common stock. The deal is anticipated to be closed in the first calendar quarter of next year, subject to receipt of shareholders’ approval, regulatory nods and completion of other customary closing conditions.
In the last trading session, the stock price of Bazaarvoice jumped more than 13% to close the day at $5.43. The gains came at a massive share volume of 24.10 million compared to average share volume of 219,940. After the recent gain, the market cap of firm was noted at around $465 million. The stock made a 52-week high of $5.45 in yesterday’s trading session.