Web measurement firm comScore has reported Q3 revenue of $22.4 million, up 39 percent from last year’s $16.1 million. Net income rose 138 percent to $3.9 million from $1.6 million. The company cited an increased customer base, as well as its ability to upsell its offerings, for the strong growth. Some highlights:
— Subscription revenue, which accounts for 80 percent of the company’s business, rose 39 percent to $17.9 million.
— 51 new customers were added in the quarter, bring its total to 837. Since last year’s quarter, the number has grown by 161.
— International revenue grew 61 percent to $2.5 million, now accounting for 11 percent of the business.
Update: The company has also announced a follow-on stock offering, coming about four months after the company’s IPO. The plan is to sell 6.13 million shares, 4.78 million of which are coming from existing shareholders, at a maximum price of $36.225 each. Anticipated proceeds of $45.7 million will go towards general corporate purposes. Another 919,854 shares will be made available to underwriters to cover over-allotments. The stock was off nearly 6 percent after hours. Filing.