Kintera revenue up, net loss down

Kintera, a San Diego-based provider of software as a service to nonprofits and government, says its revenue grew to $11.9 million in the three months ended Sept. 30, up from $10.1 million a year earlier, while its net loss fell to $1.7 million, or 4 cents a share, from $8.2 million, or 23 cents a share, a year earlier.

The company says its earnings before interest, taxes, depreciation, amortization, stock-based compensation expense and restructuring charges, or EBITDA, totaled $47,000, compared to a loss of $5.6 million a year earlier.

“We are pleased with the efforts and speed at which our company has achieved our goal of adjusted EBITDA profitability,” CEO Richard N. LaBarbera says in a statement.

Kintera, which reports an accumulated deficit of $141 million, also says its operating expenses for the third quarter fell to $10 million from $13.8 million.

The company says it had 4,700 active customers on Sept. 30 and processed $100.7 million in online donations for the three-month period, up from $82.3 million a year earlier.

Kintera says its workforce grew in the three-month period to 303 employees from 287, but fell again to 290 as of Oct. 31.

Kintera also says severance packages it agreed to in May for Harry E. Gruber, former CEO, and Dennis Berman, former executive vice president, cost a total of roughly $553,000.

Gruber remains on the company’s board, and Berman left the board in July.

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