The US-based real estate marketing software provider generated US$8.3 million is revenue, which is $1.1 million higher than last quarter. The company still made a net loss of $2.8 million, but this was down from $4.3 million in the first quarter of the year.
Adjusted EBITDA loss was $1.7 million, improved $1.6 million from the first quarter. Market Leader says this reflects strong revenue growth, a shift toward higher margin software-as-a-service based revenue, and lower sales and marketing expenses.
“Our strong revenue growth was driven by increased demand for our industry-leading subscription software products,” said Market Leader CEO Ian Morris. “We have created the real estate industry’s first comprehensive and fully integrated cloud-based software platform to address the needs of leading franchise and brokerage companies across the United States and Canada.”
Last week, Market Leader also announced its acquisition of SharperAgent and the release of its “Market Insider” tool.
For a closer look at Market Leader’s history and current products, check out the company’s presentation to the recent Property Portal Watch workshop here.