We’ve started to provide an update on how things are going with RunSignUp (Q1 and 2016). The good news is that more races, timing companies, running stores and runners continue to recommend us. One of our key stats we follow is the number of races that process more than 3 transactions with us. Our numbers were great for Q2 with 19% growth (on a very large number of races!):
Our bottom line has also faired well, with increased gross profit and lower legal fees resulting in a very solid Q2. We are using this positive momentum to continue to invest – we have added a new User Interface Developer on April 3 and Jeff Kohart (our summer intern last year) joined us full time in June to continue to accelerate our technology roadmap.
This growth is impressive despite what you may have heard from one of our competitors even after 1N3/URun settled their lawsuit with Active in December. 1N3 was our largest customer last year, so it had an impact on our numbers especially, in Q1 and less so as the year goes on.
The loss of 1N3 impacts our registration count, but financially, we are actually ahead of last year. Gross Profit is how we pay our people and Amazon costs and for the year we are up. Because of their volume, 1N3 had a higher discount than many smaller races. We have been successful this year replacing their lost volume with more profitable races. More importantly, we spent hundreds of thousands of dollars in legal fees supporting 1N3 last year – and that cost is gone. So our net profit is looking very healthy, which is allowing us to do some expansion of our development team. In addition, the 1N3 races had a high amount of customer support including above average chargebacks and participant support requests. This means we have fewer customer service issues to deal with and more time to improve the core offering.
One of the most interesting things to note is the growth of Pageviews. This is being driven by more and more races posting Results, but much of the growth is coming from Photos. And the amazing thing is only about 1% of races have started using the free photo platform – so there is a HUGE amount of Pageview growth that will be coming. This has great implications for races with Sponsors.
We will be sharing more information and stats at the RunSignUp Symposium in a couple of weeks! We will also be sharing our technology roadmap, highlighted by:
- Race Management Lifecycle – the graphic at the top of this blog post
- RaceDay Scoring – the next generation scoring platform for timers
- RunSignUp Analytics – brining automated marketing to races
- User Experience Manefesto
Hope you can make it!