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| % Change | ||||||||||
| 3Q 2001 | 4Q 2001 | 1Q 2002 | 2Q 2002 | 3Q 2002 | 4Q 2002 | 1Q 2003(see Note 1) | 2Q 2003 | 2Q03 vs. 2Q02 | 2Q03 vs. 1Q03 | |
| FINANCIAL DATA | ||||||||||
| Revenue ($M) | $6.4 | $6.7 | $7.8 | $7.9 | $8.2 | $8.5 | $11.0 | $8.4 | 7% | -24% |
| Gross Profit ($M) | $2.8 | $3.1 | $3.9 | $4.2 | $4.6 | $5.0 | $7.2 | $4.7 | 11% | -35% |
| Gross Profit Margin | 44% | 47% | 50% | 53% | 57% | 59% | 65% | 55% | 4% | -15% |
| EBITDA ($M) | ($1.4) | ($0.7) | $0.3 | $0.8 | $1.1 | $1.5 | $3.2 | $1.1 | 36% | -66% |
| Income/(Loss) from Operations ($M) | ($1.9) | ($1.2) | ($0.3) | $0.1 | $0.4 | $0.7 | $2.4 | $0.3 | 117% | -87% |
| USAGE | ||||||||||
| Unique Users (#K) | 409 | 449 | 509 | 542 | 575 | 623 | 661 | 720 | 33% | 9% |
| Using Banking Services (#K) | 264 | 292 | 337 | 365 | 374 | 403 | 420 | 390 | 7% | -7% |
| Using Payment Services (#K) | 213 | 233 | 259 | 267 | 300 | 327 | 349 | 431 | 60% | 23% |
| Adoption Rates | ||||||||||
| Banking % (see Note 2) | 6.4% | 7.2% | 9.0% | 9.2% | 10.4% | 11.2% | 11.2% | 14.0% | 52% | 25% |
| Payment % (see Note 3) | 2.5% | 2.7% | 3.1% | 3.4% | 3.8% | 4.2% | 4.4% | 5.1% | 50% | 16% |
| Transactions | ||||||||||
| Banking Transactions (#M) | 8.2 | 9.0 | 11.1 | 12.4 | 16.1 | 18.1 | 20.0 | 18.9 | 52% | -6% |
| Payment Transactions (#M) | 2.9 | 3.3 | 3.7 | 3.9 | 4.3 | 4.6 | 4.9 | 5.4 | 37% | 10% |
| DISTRIBUTION CHANNEL | ||||||||||
| Total Clients (#) | 474 | 472 | 475 | 474 | 484 | 534 | 550 | 557 | 18% | 1% |
| Aggregate Checking Accounts (#M) | 8.6 | 8.7 | 9.0 | 8.7 | 8.6 | 9.9 | 10.0 | 8.8 | 2% | -12% |
| Aggregate Account Holders (#M) | 17.7 | 17.8 | 18.3 | 16.8 | 16.2 | 18.2 | 18.4 | 16.2 | -4% | -12% |
| % of Clients Enabled | 94% | 93% | 96% | 96% | 95% | 85% | 85% | 93% | -3% | 9% |
Notes:
- 1Q 2003 includes a one-time fee of $2.2 million, in connection with the early termination of the Company's contract with Cal Fed, which was acquired and migrated to the Citigroup platform.
- Represents the percentage of users subscribing to our Internet Banking Service, out of the total number of checking accounts serviced by the Company's Full Service clients (excluding clients who use our standalone Payment Services).
- Represents the percentage of users subscribing to our Payment Services, out of the total number of checking accounts serviced by all of the Company's clients (includes both Full Service and standalone Payment Service clients).
Media Contact: Beth Halloran,
Director, Corporate Communications
703.394.5248
bhalloran@orcc.com
Investor Contact: Catherine Graham,
EVP & Chief Financial Officer
703.394.5155
cgraham@orcc.com