As AllThingsD reported in September, travel search engine Kayak has put its IPO on hold until market conditions improve. Kayak filed its S-1 for a public offering nearly a year ago. Today, the company just filed a new S-1 with its revenue numbers from the third quarter ended September 30, 2011.
During the most recent quarter, Kayak posted $61.16 million in revenue, up 28 percent from the same quarter in 2010. The company also increased revenue slightly from the second quarter 2011, which came in at $56.7 million.
Net income for the third quarter 2011 was $12.7 million, up 44 percent from the same quarter in 2010, in which net income was $8.7 million. Profits were up from $5.7 million in the second quarter of 2011.
In the nine months ended September 30, 2011, Kayak processed 679 million user queries for travel information, which is up 45% over the nine months ended September 30, 2010.
It’s a good sign for Kayak that revenues and profits are increasing both yearly and quarter over quarter considering the intense competition the site faces in the online travel space. Google just launched its flight bookings and search portal, which is powered by the recent acquisition of ITA Software.
Of course, it’s important to note that in the filing itself Kayak says that the most ‘significant portion’ of its revenues is earned in the second and third quarters, with revenue declining in the fourth quarter.
These positive numbers could bode well for Kayak’s pending IPO. With Yelp, ExactTarget, Zynga and perhaps even Facebook in the mix, the IPO market for tech companies hasn’t dried up.