Member Info for Brassneck

Of course you do Stt. I can only assume then it's all tremendously positive for R1 as you've never put links to it on this board before that I've seen. I'm amazed you haven't found a negative angle on it yet. Is that because you don't really understand it?

What's the latest on ads.txt? Is it worthless as Index Exchange are ranked 6th and have just been caught out bid caching? https://adstxt.firstimpression.io/

How will this affect quantcast? https://www.quantcast.com/measure/p-59TntzuqummDw

And here's an irrelevant link to something from years ago about fee transparency http://www.mediamath.com/blog/transparency-the-single-most-important-and-disruptive-word-in-online-advertising/

Stt, no, I just thought I'd post a link. You do the research and post your analysis and I'll just make some negative points on it, ask some questions and post some more links.

Not seen any coverage of this before and would be interested on people's views as I haven't done any further research into it...

https://trends.builtwith.com/ads/RhythmOne-Reseller/Market-Share

Will keep an eye over time to see how it moves about each quarter.

and Jorg's bio is now in the Executive Team section. Gosh he has a lot of degrees!

Thanks for that biffs, had wondered why we were not appearing in the rankings. Further evidence they are focussed on profit and maximising everything in this regard. Hopefully lots to report at H1

Stt,

I think it is more to do with them walking away from unprofitable revenues or marginally profitable revenues rather than your favourite industry challenges. I've never seen any mention of a FY19 target of $500m. At last year's AGM in the informal discussion afterwards they were saying that to be taken seriously (from a stock listing perspective) in the US you needed $500m of revenues and that they were well on their way to achieving the 500m rev : 50m PBT that Biffa talks about, at which point they thought the value of the business would be around £10 a share. Highest I'd seen in the concensus/broker notes was $470m.

I suspect they also talked down the revenue number after a very weak Q4 FY18. I expect them to hit $420-430m this year even if Q4 is again weak - if it was a one off then $440-450m is possible. It would have been sensible to talk it down right at the start of the year after a weak quarter. H1 results will be very interesting as a full half with all business. Should be much easier to then read across to a full year number and see if the analysts are in the ballpark or not.

What are you expecting for H1 FY19 sales and profit?

and there's this too...
https://www.rhythmone.com/insights/the-360-effect#FdveuGPxcs3FCewD.97

I thought those words were banned in relation to R1... https://www.rhythmone.com/blog/2018/08/09/advanced-tv-a-new-inflection-point-for-programmatic#Dsz3iXKG9aMLdc1c.97

Stt, I imagine that if the plan is to cut costs of the merged R1/Yume business by 20% it probably involves getting rid of people and some senior roles at that. To hit their profit numbers this year on a similar gross margin means the cost out plan is critical.

Perhaps Rubicon had to do something on their fees as their inventory is not clean enough. Pixalate SIVT, GIVT and Viewability scores all poor.

Pizalate US Global
Rubicon 14th/50th

1R
1st/50th

http://www.pixalate.com/sellertrustindex/global/#!global

There will be exceptionals this year as they are going after significant cost out. I would imagine north of £10m in H1. As Dataxu was settled in FY18 if it was material ie above £100k I would have expected them to mention it. Maybe it will be in the upcoming H1 results but better to wait and see and deal with facts eh? Of course they could consider that it was so immaterial it wasn’t worth detailing. Finally I think borg clearly stated he thought it was to do with Yume in one of his early posts before you started your personal fantasy on Dataxu.

I see Stt and Jonc on ADVFN continue with poor quality, ill researched statements and moronic posts after borgioli confirmed the £900k litigation settlement was related to YUME, which obviously didn't suit their agenda re Dataxu.

Do read the annual report, page 63, which clearly states: On 2 February 2018, the Group acquired 100% of the issued and outstanding shares of YuMe, Inc. (YuMe), a Redwood City, California based company for a consideration of $163.4 million which consisted of $61.6m in cash consideration and 26,048,596 of
RhythmOne’s common shares issued with a value of $100.9m and $0.9m due to the settlement of a pre-existing relationship.

Clear and unambiguous.

From the article I'd read i'd assumed he was still at school. No insight or substance whatsoever.

I don’t see them starting a buy back until near calendar year end. First half sees working capital flow out and I think there’ll be a sizeable exceptional cash cost of reducing head count which is key for them to deliver real profits. Whilst the platform has been integrated for supply/inventory and driving revenues I get the impression much of the back office hadn’t been done and they have many legacy systems supporting sales teams, HR, ERP/CRM etc. This is where Mark Bonney has his cost out focus. I’d like a buy back sooner but don’t think we’ll get it until they’ve made progress here.

Top 6 Video Ad Exchanges, R1 one of them...

https://blognife.com/2018/01/06/best-video-ad-exchanges-list-2018-publishers-top-6/

Long term yes, very cheap. I don’t expect it will be a smooth ride up though. Have finished topping up now apart from one trade of £3825 to go through. Happy to now hold until November and see what H1 brings us.

Meant to say Tosca making low ball offer

Rusty, could probably reduce fees a bit but only charge is £6 a trade so small beer. Mainly increasing just in case we do get a low ball offer at around £3.00. I thought I had read somewhere on one of these boards that they would have to offer at least the highest price they have paid in the last 12 months which from here on would certainly be sub 4.00. My average will move to around 2.50 now so better than many but hopeful of this being a big earner.

Indeed, not too worried about a few pence either way though. There’s always tomorrow!

Yes