TechTarget Announces First-Quarter Revenue Growth of 51 Percent

Business Wire, April 30, 2004

Business/Technology/Advertising Editors & Publishing/Media Writers

NEEDHAM, Mass.--(BUSINESS WIRE)--April 30, 2004

IT media company TechTarget announced its first-quarter results today. The company reported a 51 percent increase in quarterly revenues relative to the same period last year. The company also again posted a profit.

TechTarget's revenue growth was fueled by increases in the number of customers doing business with TechTarget, the number of orders placed by each customer, and the average size of each order.

The company's growth contrasts with the overall performance of the business-to-business (b-to-b) publishing sector. According to the latest figures released by Business Information Network (which tracks b-to-b print advertising spending and pages), February b-to-b advertising revenues were essentially flat relative to the same period 2003.(1)

"TechTarget's consistent growth has come at the expense of our competitors, from whom we've taken market share and won over advertisers," said TechTarget CEO Greg Strakosch. "TechTarget continues to develop innovative advertising and sponsorship vehicles that deliver more qualified leads and better return on investment. As a result, advertisers reward us with their business. As strong as our results were this quarter, we expect that--as advertisers continue to reallocate their marketing dollars to targeted online vehicles--TechTarget's growth will only accelerate."

Q1 2004 Highlights

During the first quarter, TechTarget expanded the scope of its business through sales growth, product launches, and hiring. Milestones include:

-- Named one of the "50 Best Places to Work" in the Boston

Business Journal's annual survey of Massachusetts workplaces

-- Recognized for the second consecutive year as one of the ten

fastest-growing private companies in Massachusetts (Boston

Business Journal)

-- Received national recognition for the quality of its customer

service: TechTarget's Client Consulting department was named a

Finalist for Best Customer Service Team by the American

Business Awards (final results TBA May 10)

-- Added 22 employees to accommodate increased demand for

TechTarget media, bringing the total number of employees to

255

-- Released 2003 conference audit results showing that 100

percent of attendees at each TechTarget conference have a role

in the purchase process for the specific technology covered by

the conference

-- Introduced its first service for IT market researchers, the

TechTarget IT Research Panel of 70,000 enterprise IT

professionals who have agreed to participate in relevant

online surveys, the largest panel of IT decision makers

available

-- Expanded the depth of its offerings for Windows professionals

with the launch of SearchExchange.com, a Web site serving the

needs of IT professionals who manage Microsoft Exchange server

environments

-- Introduced a sweeping redesign for Information Security

magazine, which TechTarget acquired in June 2003. The redesign

is the first in the magazine's six-year history.

-- Launched "Products of the Year" awards programs on

SearchWin2000.com, Search400.com, and SearchNetworking.com.

Editors selected 57 winning products in 19 categories.

About TechTarget

TechTarget produces the most targeted media for enterprise information technology (IT) professionals, including invitation-only conferences; controlled, qualified e-Newsletters; Webcasts; two magazines, Storage and Information Security; and a network of Web sites targeting specific sectors of the IT market. TechTarget leads the industry in developing innovative advertising vehicles that address IT marketers' need for high-ROI branding and lead-generation programs. The leading IT companies in the world rely on TechTarget media to reach qualified IT professionals with buying power. TechTarget has more than 1500 advertisers, including IBM, Microsoft, Oracle, HP, Cisco, Intel, and EMC. More information about TechTarget is available at www.techtarget.com.

(1) Source: American Business Media Business Information Network, February 2004.