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Also, growth stocks over here became so over-valued on a fundamentals basis, they were due for a pullback.
This is no surprise. What was a surprise were the insane valuations to which many growth stocks over here ran. "Way too far, way too fast."
I believe the strong companies will grow into their recent sky-high valuations on a market cap / enterprise metric, but these valuations will then be more justifiable.
Radium,
Yes, agreed, the sentiment has changed. Growth stocks are out of favor over here. Anything but growth is what they're looking for. Sector rotation; it happens all the time.
FOMO on growth will return, and we're in the right spot when it does.
Milhous,
My bet, your bet, all TRMR longs' bet: we'll do very well in the coming months to years.
Our valuations are relatively very low on a fundamental basis. We've been OLV centric for years, and now we're also CTV centric. Tons upon tons of ad dollars are flowing towards our space. We're here to capitalize on the opportunities that lie before us, and capitalize upon it, I believe, we shall.
I didn't come back here in a pretty heavy way because I am stupid. I saw the writing on the wall well over a year ago. This is a different company than the dysfunctional blinkx/R1. There is only one person on this board that refuses to see this, and this is why we call him our village idiot.
gdog....yes, that's about it in a nut shell. Just trying to figure out the possible read across for Tremor tomorrow and into the IPO. For the time being, sentiment has changed.
It's hard to think of a more dynamic environment than the U.S. ad tech markets.
If nothing else it will be very interesting to see how Tremor fits into the shuffling decks.
Will the company just plough its own trough for many years to come?
That seems highly unlikely.
Radium,
I believe they also stated that SpotX was a lot better at taking clients who advertise on linear TV to CTV. They have better in-house services to deal with those that want to transition but are not yet set up to make the change.
Also, while MGNI had a 'soft' month in March for CTV, SpotX had a strong month in March. They expect the companies to be marketed as one by July. The combination / integration of the two different CTV platforms is yet to be determined. They only closed the deal 10 days ago, so there's a lot to figure out. Especially considering SpotX was a private company, there's still a lot to learn about their operations.
It appears that Magnite experienced an unexpected weakness in programmatic CTV revenue in the last month of the 1Qtr (March), but state that this has been more than made up for to date in 2Qtr. Tremor's last RNS dated late March (22nd), didn't imply any weakness at all in the 1Qtr....
Extract...The Company's performance during the first quarter of 2021, which historically is the lowest quarter by revenue in the year, is significantly ahead of the same period in 2020, predominantly pre-pandemic. This continued sustainable organic growth is a clear endorsement of Tremor's strategy, executed by the Company's end-to-end technology platform together with strong demand inflow. Therefore, the Company now expects trading for the year ending 31 December 2021 to be significantly ahead of management expectations. Tremor expects to report net revenue* of $55 million to $60 million, an increase of 71%-87% (Q1 2020: $32.1 million), and Adjusted EBITDA of $25 million to $28 million an increase of 46-51 times, (Q1 2020: $0.5 million), in the first quarter of the financial year. Programmatic net revenues are expected to grow by 84%-95% in Q1 2020.
This positive momentum continues to be underpinned by the successful execution of the Company's strategy, which focuses on video and data, with Tremor's core solutions of Connected TV, Private Marketplaces and its self-serve platform continuing to achieve significant traction.
From the CC, if I picked it up correctly from the QA session, their unexpected March weakness resulted from not having enough spokes in the wheel to cope with a rise in the use direct purchasing, which they claim the integration of their recent purchase, Spotex, will rectify.
Questions asked by analysts, and topics discussed:
CTV
CTV
CTV
CTV
CTV
OLV
TRMR is in a great place. I believe we have great days ahead of us.