As the economy fell into recession, privately-held Convio posted record revenue of $57 million for the year ended Dec. 31, 2008, a jump of 32 percent over 2007, and turned a profit for the year.
That strong sales performance drove the company’s cash flow to $2.9 million for the year, says the Austin-based nonprofit-software provider, and helped it achieve profitability for both the fourth quarter and the year, on a non-generally accepted accounting basis.
The company says its adjusted income from operations for the year totaled $576,000, up from a loss of $5.4 million in 2007, while the fourth quarter of 2008 brought in an adjusted $440,000, compared to a loss of $1.1 million for the same period in 2007.
“Our client results show that nonprofits understand that they need to be agile, social and connected to mobilize and inspire people and to achieve their mission,” Gene Austin, CEO of Convio, says in a statement.
The company processed $777 million in online donations for its clients in 2008, a 72 percent jump over 2007.
Austin credits the company’s performance to its value proposition, the addition of new clients and the integration of GetActive Software, which Convio purchased in 2007.
The company signed on several new clients last year, including Operation Smile, the Wildlife Conservation Society and Habitat for Humanity International.