Market Leader Inc., a real estate marketing and technology company formerly known as House Values, on Thursday announced that revenue grew to $5.98 million in the third quarter, which ended Sept. 30, compared with $5.82 million in this year’s second quarter and last year’s third quarter.
The company’s net loss, though, grew to $3.41 million in the third quarter of this year compared to $3.13 million in the second quarter and $2.92 million in third-quarter 2009.
The company announced that its Vision brand software-as-a-service (SaaS) tools, which are Web-accessible, subscription-based real estate prospecting tools including RealtyGenerator and Growth Leader, are "driving Market Leader’s renewed growth," the company announced.
Market Leader reported a 60 percent year-over-year growth in Vision revenue in the second quarter, and Vision-related revenue in the third quarter was up 40 percent year over year.
The company reported that it "expects double-digit revenue growth in the fourth quarter," due to a combination of natural revenue growth and revenue from a "newly consolidated investment."
But the company does not expect its earnings before interest, taxes, depreciation and amortization (EBITDA) to improve in the fourth quarter compared to the third quarter for a variety of reasons, including seasonal increases in advertising costs and a "continued investment to acquire and support Vision customers.
The company reported that average revenue per customer in the third quarter reached the highest level in 13 quarters, "while customer retention was again among the highest levels achieved in recent years."
"Our team continues to be very pleased by the … customer accolades for RealtyGenerator," and momentum with some major real estate franchise networks, said Ian Morris, Market Leader CEO, in a statement.