Achieves highest revenue in Company’s history driven by 23% revenue growth; 62% Adjusted EBITDA growth

CHICAGO - InnerWorkings, Inc. (NASDAQ: INWK), the leading global marketing execution firm, today reported results for the three months ended June 30, 2014.

Highlights

• Record revenue of $260.3 million, an increase of 23% compared to $210.9 million in the second quarter of 2013.
• Non-GAAP Adjusted EBITDA of $9.5 million, an increase of 62% compared to Non-GAAP Adjusted EBITDA of $5.9 million in the second quarter of 2013. Please refer to the non-GAAP reconciliation table below for more information.
• Non-GAAP diluted earnings per share of $0.04, compared to Non-GAAP diluted earnings per share of $0.02 in the second quarter of 2013. Please refer to the non-GAAP reconciliation table below for more information.
• Non-GAAP Adjusted Operating Cash Flow of $6.4 million, an increase of 66% compared to Non-GAAP Adjusted Operating Cash Flow of $3.9 million in the second quarter of 2013. Please refer to the non-GAAP reconciliation table below for more information.

"Our core enterprise business fueled record revenue for us in the second quarter. A large portion of this growth came from expanding our relationships with several of our long-standing Fortune 500 customers,” said Eric D. Belcher, Chief Executive Officer of InnerWorkings.

Additional financial and operational highlights include the following:

• Organic enterprise account growth was $27 million in the second quarter, a 13% increase over the prior-year period.
• The Company recently signed new enterprise agreements with Sanofi, a global pharmaceutical firm; Newsday, one of the largest newspaper publishers in the U.S.; and Edrington, the owner of leading spirits brands around the world.
• The North America segment accounted for 70% of revenue and international segments accounted for 30%, compared to a 77% / 23% mix in the second quarter of 2013.

“Our international regions continue to generate strong organic growth, which positions us well for improved EBITDA margin in the second half of the year,” said Joseph M. Busky, Chief Financial Officer of InnerWorkings.

Outlook

The Company reaffirms its 2014 revenue guidance of $965 million to $1 billion, which reflects 8 to 12 percent growth over 2013. The Company also reaffirms its 2014 Non-GAAP diluted earnings per share guidance of $0.23 to $0.27, compared to $0.09 in 2013.