"Revenue per download remained flat at $3.42.".....and you get 10 cents!
Financial Outlook first quarter 2020
"Given the significant uncertainty that remains regarding the COVID-19 pandemic, including the pace of recovery, the severity of the impact on the global economy, our customers' ability to maintain marketing spend, and the resulting difficulty in forecasting, we are withdrawing the 2020 financial guidance we previously announced on February 13, 2020.
While revenues have been negatively impacted since the onset of the pandemic, at current volumes, we expect to produce significant earnings and free cash flow in 2020, allowing us to continue paying a quarterly dividend and reinvesting in our business. We are well positioned financially with $296 million in cash and no debt. Our strong liquidity position combined with the progress we are making against our margin enhancement initiatives make us well positioned to meet our financial objectives when demand returns to historical levels," concluded Jarrod Yahes, Chief Financial Officer.
First Quarter 2020 highlights compared to First Quarter 2019:
Key Operating Metrics
Paid downloads decreased 1% to 46.8 million.
Revenue per download remained flat at $3.42.
Image collection expanded 27% to approximately 330 million images.
Video collection expanded 29% to approximately 18 million clips.