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Eddie
"moving from low margin or loss making operations to profitable areas of the market (Video/CTV)"
The results include rthm operations which were closed down. Rthm's margins were around 45% pre-merger. Therefore, it's using rthm's model which has improved margins, slightly from 42% to 45%.
However, they closed several rthm operations, inc Perk during 2019. Therefore, nobody knows whether the increase in margins was because of any of the discontinued operations.
There will also be a loss of revenue and cash from those discontinued operations.
CTV Revenues
They are comparing Q1 2019 against Q4 2019. Q1 2019 was pre-rthm merger, which was completed at end of Q1. Therefore, not a proper comparison. Trmr are following rthm with CTV, so I think Q4 2019 was from rthm.
If for Q4 CTV revenue was $18m then the fy revenue from CTV should have been around $36m-$54m or representing 2 to 3 qtrs worth.
Yet they state CTV revenues at less than 1/10th of fy revenue...
"Revenue from Connected TV (“CTV”) grew from $2.2 million in Q1 2019, to $18.1 million in Q4 2019,
total year of $31.9 million "
https://www.tremorinternational.com/wp-content/uploads/2020/03/TRMR-Final-results-310320.pdf
Also ad tech industry is suffering because of Covid-19 and there's still the other Industry Challenges, like GDPR, CCPA etc etc..
Given they will lose revenue from discontinued operations and CTV revenues were only $31.9m, I believe this years, fy2020 revenues will be below $300m.
Are you looking in to the past or the present?
I think they are now backing their ideas quite well, STT1. They are PROVING IT on their Balance Sheet
transforming the business over the last year,
moving from low margin or loss making operations to profitable areas of the market (Video/CTV)
accumulating good level of cash
Completing a buyback
completing R1 integration,
acquiring Unruly, without cash
streamlining the operation with $40m cost synergies and more to follow
Generating good profits despite of large ‘one-off’ costs
increasing the companies footprint globally
establishing a good Client base to sell-up and across from
Time will tell, but your comments regarding “Backing bullish ideas” is quite a bit out of date
Ohh and please don’t bother with regurgitating more of your Canned tried and unrelated and out of context blurb . Thanks and good night
P S- Are going to buy more shares soon? You still haven’t answered every ones question as to WHY you recently bought shares in Tremor right after the RESULTS?