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I hope you posted that on the Amazon board too Stt and told them Amazon won't get anywhere until they improve their ads.txt ranking
Stt, your ads.txt obsession does make me laugh. Why on earth would researchers look at the io dashboard to determine which companies to research? Much more likely they looked at size of revenues, though I have no idea. Unless of course they thought ads.txt was a con and meaningless and easily circumvented. After all Index Exchange are 5th ranked there but much lower on Pixalate.
Well we can always count on you Stt for irrelevant posts. I take it this is your template for any positive news where you can’t immediately see a negative, refer to the FY18 loss. I think that had more to do with acquisition costs than Pixalate. Whilst there isn’t any provable direct connection between Pixalate and revenue it has to help with the pitch. For certain if Amazon were in the same position as R1 there would be a blizzard of PR and you’d be the first one posting that on here saying what are R1 doing about it. Better to stay silent Stt than reinforce your reputation. Your views would carry much more weight if you had some balance.
Thanks DW. I always think Big Bear is a little too optimistic. I'd be delighted with $430m for this year. $500m far too optimistic. I'm also not sure we'll see gross margins move up much from 43% that we saw in H2 FY18 as Yume will have had most of it's impact with higher margin revenues in that half.
For me it's all down to operating expenses which BB highlighted. I think the combined number was $162m before merger and they talked about $15m synergies which gets them to $147m. If it's another 20% from that then happy days as we'll be down to $120m. If it's 20%off the $162m then we're at $130m. If they don't get near to hitting these then I can't see them making the concensus profit numbers.
On my fag packet if they hit $130m OpEx I get an operating profit of at least $45m before exceptionals, finance and tax. I do think exceptionals will be quite hefty if they're restructuring to that extent - but at least there won't be any acquisition costs!!
I see the latest quarter rankings are out. Excellent performance from R1...
US Global - 1st Apr, May and June
Intl Global - 2nd Apr, May and June
Mobile - 5th Apr, 3rd May, 2nd June
Video US - 10th Apr, 8th May and 6th June
Video Intl - 4th Apr, 1st May and 2nd June
Needless to say there isn't another adtech firm with anything like that set of results.
Hopefully, under Jorg the sales team can start to try and convert this in to a competitive advantage when pitching for business.
i don't think you can say the index exchange chart reflects the bid caching issue. The date range on the chart is 6 years and appears to stop at June 2018 so not sure the chart shows the drop off as you suggest. Feels like you're using a picture to fit your narrative, asserting you're right.
Quancast does show a drop on the Index Exchange network since 13 Aug and we all know that updates daily.Which I think you could say was fall out from the bid caching story.
Not sure you can draw the conclusions you have done about ads.txt from the BuiltWith site as that isn't just an ads.txt view unlike the industry dashboard, from which I'm fully aware of the trends for the last 5 months as I've tracked that since 1GW first posted it in March (that was before we became the same person)
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.