Compare that to Web Side Story, another web analytics company. WSSI’s market cap is $237 million, more than twice as high as Omniture’s. Their revenue is lower, with TTM revenue of $45.94 million and their quarterly revenue growth rate (yoy) is lower, at 93.2%. WSSI does have a positive EBITDA of $9.9 million, while Omniture’s is negative. But with a higher revenue base and a higher revenue growth rate, it could be just a matter of time before Omniture is worth significantly more than Web Side Story.
I think it is also significant than both companies growth rates are near 100% even with Google Analytics in the picture. I’ve tried Google Analytics and find it lacking in some critical features. So my companies continue to rely on Omniture, as do many of the largest and most profitable internet companies in the world.
I own a very small stake in Omniture. As a customer and shareholder, I think it will be interesting to see if the market cap gap between Omniture and Web Site Story narrows in the coming months. I think it probably will, one way or another. There were 2 million short shares on Web Side Story as of June 12th, and it will be interesting to see how that plays out.