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doggy,
You mean you've had to seek refuge in a hotel - must be bad out there!
Gdog,
Just looked you up!
Hope you OK!
Is that the Hilton Garden Hill on SW parkway?
Good luck, buddy!
JR
Bear points.
Facts over the past year.
1) In March 2020, they published a huge 11fold increase in debt provision.
Then 6 months later
2) In Sept 2020, they published a $30m loss
Then 3 months later
3) The CEO sells 700k shares, 1/3 of his holding.
From fy2020 results, published March 2020:
Note 16B (2)
"(2) At 31 December 2019, the Group included provision to doubtful debts in the amount of USD 22,376 thousand (31 December 2018: USD 2,822 thousand) in respect of collective impairment provision and specific debtors that their collectability is in doubt."
https://www.tremorinternational.com/wp-content/uploads/2020/03/TRMR-Final-results-310320.pdf
H1-2020 Interims, published Sept 2020, 4 months ago
$30m loss
https://www.tremorinternational.com/wp-content/uploads/2020/09/TRMR-Interim-results-Q3-2020-Trading-Update-220920.pdf
The CEO then sold 1/3 of his holding last month.
https://www.tremorinternational.com/wp-content/uploads/2020/12/TRMR-Director-Dealing-16.12.20.pdf
fy2020 Adj EBITDA lower than 2019 and missed Finncap's expectations set in March 2020.
https://uk.advfn.com/cmn/fbb/thread.php3?id=44523916&from=4143&to=4143
Hey Rusty,
I just read the one about sleeping in. Sleeping in, to me, is being up anytime after 06:00hr Pacific Time.
I did not sleep in today...just operating in a different environment than usual. That and our markets are closed today, as was also mentioned earlier.
What then is to stop 'revenge-filtering'?
Should I filter all who filter me?
It all causes bad feeling and it seems childish.
People should be pulling together, not behaving like shrinking violets,
no names mentioned, I'm far too polite.
It is president's day!
Thanks for that Rusty. You are right. Throwing the baby out with etc..
JR
jrlse Don't leave the board just use the filter button and have dialogue with people you know can, and will have a reasoned conversation.
Has deputy dawg slept in today ?
Bald,
If you can't tell the difference between differing opinions and constant idiotic repetitive drone, I might as well leave.
JR
Yes Jrise, totally agree, when I talked about not being on his own, the aforementioned were filtered months ago for exactly the same reason. I will refrain from mentioning it. Apologies Rusty
Here's an idea. Why don't we all filter every other contributor....so we can all live in blissful ignorance and never encounter a differing opinion?!
Filtering TrickyD and Eddie is just plain daft (IMO).
Rusty,
Can we please ignore the idiot...
I have alredy filtered tricky and eddie for constantly replying to him.
I will either leave this board or filter anyone who mentions him..... pretty ****ed off
JR
Some profit-taking and auto-trading, with support fluttering around the 650 level.
Not selling any of mine!
sorry, there is nothing to admire about stt1. And anyone who does admire him, needs to see a physciatrist.
Have to admire stt's perseverance
Bear points.
Sizmek, who also offered CTV, filed for Chapter 11 Bankruptcy in 2019. They owed $millions to various companies, including rthm(now merged with trmr).
Trmr's debt provision increased 11fold in 2019 from $2m to $22m. I think this is as a result of Sizmek filing for Chapter 11. Because of the way ad tech model works, DSPs/SSPs partner with each other, so if 1 folds, others are left without money they were expecting. There is a domino effect.
https://digiday.com/media/tip-ice-berg-sizmek-saga-spells-trouble-ad-tech/
Facts over the past year.
From fy2020 results, published March 2020:
Note 16B (2)
"(2) At 31 December 2019, the Group included provision to doubtful debts in the amount of USD 22,376 thousand (31 December 2018: USD 2,822 thousand) in respect of collective impairment provision and specific debtors that their collectability is in doubt."
https://www.tremorinternational.com/wp-content/uploads/2020/03/TRMR-Final-results-310320.pdf
H1-2020 Interims, published Sept 2020, 4 months ago
$30m loss
https://www.tremorinternational.com/wp-content/uploads/2020/09/TRMR-Interim-results-Q3-2020-Trading-Update-220920.pdf
The CEO then sold 1/3 of his holding last month.
https://www.tremorinternational.com/wp-content/uploads/2020/12/TRMR-Director-Dealing-16.12.20.pdf
fy2020 Adj EBITDA lower than 2019 and missed Finncap's expectations set in March 2020.
https://uk.advfn.com/cmn/fbb/thread.php3?id=44523916&from=4143&to=4143
Remember the company's broker's, Finncap, current target is 800p, which is only slightly above the current sp.
Read the posts.
There are several posters who have sold out or are looking to sell out when they reach BREAK-EVEN. As they looking for break-even, they obviously were holding at higher prices.
There are some PIs who were holding blnx(now rthm) when their eq sp was £28 in Jan 2014. ie Those who held from Autonomy days or bought pre-2014.
They are also several posters, who were holding rthn when the eq sp was 590p in 2017.
Blnx/Rthm: Rthm now merged with trmr
In 2013-14, the blnx sp quadrupled, from eq 760p to £28 on back of bullish comments, video is everything etc and then crashed 60% on the back of questionable EVENTS.
In 2016-17, previous US Election, rthm eq sp tripled from eq 188p to 589p on bullish comments before crashing due to EVENTS/industry challenges. As expected.
Currently, the sp has risen on bullish comments. Trmr reduced expectations significantly in June and then published TU showing expectations were higher than the 'reduced' expectations. They still below the original fy2020 expectations set in March, following last year's results.
All they have done is significantly reduce expectations half way through the year then increase them on the 'reduced' expectations, following the hotly contested US Elections/covid.
There is no US Election for another 4 yrs.
Finncap notes - free to register.
Fact:
Finncap expectations as of 31st March were:
revenue: $424.9m, now $400m, DOWN $25m
ebitda: $75.mm, now $60m, DOWN $15m
Adj EBITDA:
Despite the huge increase in CTV, their adj EBITDA is still lower than fy2019!!
Revenues:
Their fy2020 revenue has only increased by around $80m. However, it includes a full year contribution from Rthm and Unruly, whereas fy2019 there was only 8months and none, respectively.
period, revenue, adj ebitda, cash
2018, $276.9m, $44.1m, $54.4m *** no contribution from rthm
2019, $325.8m, $60.4m, $76.9m *** 8 months contribution from rthm
2020e, $404-$408m, $58-60m, $96m *** Inc full year contribution from rthm & Unruly
Bear point - lower Pixalate ranking.
Pixalate - Seller Trust rankings.
"Pixalate delivers the only Fraud Management System that mitigates your risk exposure with accredited anti-fraud solutions across display, in-app, video and OTT/CTV."
"Pixalate is the first and only data platform with a comprehensive suite of products specifically built to bring transparency to programmatic advertising. Pixalate monitors hundreds of billions of ad events in real time by tapping into the global RTB data stream, providing insights to optimize performance, benchmark supply quality, and eliminate fraud.
Together, we’re raising the bar for RTB."
https://www.pixalate.com/about/
Telaria demerged from trmr(when TAP) because of perceived conflict of interest.
Is it a coincidence that Magnite are buying SPOTX because they have a high Pixalate ranking, given Magnite have advocated transparency within Ad Tech eco system?
The Pixalate rankings also have Pubmatic, Telaria(now Magnite), Rubicon(now Magnite), SpotX(bought by Magnite) higher than Rthm(now trmr).
Pixalate rankings. Seller Trust rankings.
Rthm(trmr) no longer no1.
For CTV, on Roku/Samsung, Magnite(Telaria) have a higher trust ranking than rthm(Trmr).
Telaria demerged from Trmr(when it was TAP). Now part of Magnite.
***************************************************************************
Q1 - 2020 - CTV - ROKU
Telaria (ex TremorDSP, now merged Magnite) 1st/10
Pubmatic 4th/10
SPOTX 5th/10th
Rubicon 6/10
RhythmOne 9th/10, down 4.
************************************************************************
CTV - SAMSUNG
SPOTX 2nd/10
Telaria 4th/10
Rhythmone 10th/10
https://www.pixalate.com/sellertrustindex/video/#!Samsung
Traders don't read the bull-bear bla-bla!
They set up automated trades to pick out the patterns and buy or sell accordingly.
No use trying to blame genuine posters on here when it is nothing to do with us.
You'd be stupid to think otherwise.
The markets set the test and we win or lose accordingly.
Okay, some large trades may tip the balance but even that is taken into account by automated trades and the activity is calmed.
I don't know anyone who is holding at £28 from 7 years ago and that figure is highly misleading when you consider the changes along the way.
Where's the growth? They bought Unruly a year ago in Jan 2020, so revenues include contribution from them. The CEO sold a 1/3 of his holding in Dec, just 2 months ago.
With huge ad spend during the US Election and huge increase in CTV, why isn't there a huge increase in adj Ebitda. It's lower than fy2019!!!
There is no US Election for another 4 yrs.
Read the company accounts/newsflow.
fy2020 expectations compared v fy2019 actuals
Their revenues are higher than fy 2019 but their adj Ebitda is lower. I was expecting adj Ebitda to be significantly higher than fy2019, especially given the surge in ads due to US Elections and supposedly the huge increase in CTV.
Revenues are higher but adj ebitda is lower. 2020 includes Unruly, 2019 doesn't.
Revenues: $404-408m (2019 $325.8m)
Adj Ebitda: $58-$60m(2019 $60.4m) ** Lower than fy2019
Net cash $96m(2019 $76m)
https://www.tremorinternational.com/wp-content/uploads/2020/05/Tremor_2019_AR_WEB_SPREADS.pdf
Finncap expectations
Compared to finncap's expectations from earlier last year, they are still below those expectations.
Finncap notes - free to register.
Finncap expectations as of 31st March were:
revenue: $424.9m, now $404m-$408m, DOWN $25m
ebitda: $75.0m, now $58-60m, DOWN $15m
https://researchlibrary.finncap.com/File/View?file=62f9bbb9-4efe-49f7-a809-002552770f2a
There is no US Election for another 4 yrs and covid lockdowns will be eased as we go through the year.
They bought Unruly at the beginning of 2020, so there was no revenue contribution from them in fy2019 but will be virtually a full year's contribution in fy2020. Unruly revenue was $43m 6 months before being acquired by Trmr.
The TU figures in the TU are still below Finncap's expectations from 10 months ago.
Compared to finncap's expectations from earlier last year, they are still below those expectations.
Finncap notes - free to register.
Finncap expectations as of 31st March were:
revenue: $424.9m, now $404m-$408m, DOWN $20m
ebitda: $75.0m, now $58-60m, DOWN $15m
https://researchlibrary.finncap.com/File/View?file=62f9bbb9-4efe-49f7-a809-002552770f2a
Everyone should read the company/sector news and form their OWN opinion.
Facts over the past year.
From fy2020 results, published March 2020:
Note 16B (2)
"(2) At 31 December 2019, the Group included provision to doubtful debts in the amount of USD 22,376 thousand (31 December 2018: USD 2,822 thousand) in respect of collective impairment provision and specific debtors that their collectability is in doubt."
https://www.tremorinternational.com/wp-content/uploads/2020/03/TRMR-Final-results-310320.pdf
H1-2020 Interims, published Sept 2020, 4 months ago
$30m loss
https://www.tremorinternational.com/wp-content/uploads/2020/09/TRMR-Interim-results-Q3-2020-Trading-Update-220920.pdf
The CEO then sold 1/3 of his holding last month.
https://www.tremorinternational.com/wp-content/uploads/2020/12/TRMR-Director-Dealing-16.12.20.pdf
fy2020 Adj EBITDA lower than 2019 and missed Finncap's expectations set in March 2020.
https://uk.advfn.com/cmn/fbb/thread.php3?id=44523916&from=4143&to=4143