From ADVFN Poster19 Apr 2018 10:27
19/4/2018
08:49 RhythmOne revenue surges 71% 19 April 2018 | 08:21am StockMarketWire.com - RhythmOne has estimated that its revenue for full year ended 31 March 2018 increased by 71% to $255m. Adjusted EBITDA rose by 900% to $14m. Growth was led primarily by on-platform programmatic revenue growth, which saw an increase of approximately 13% year-on-year. During the fourth quarter of the period, the company completed its acquisition of YuMe, gaining access to premium video and connected TV inventory, unique audience data and cross-screen targeting technology. The company expects net cash on hand to total approximately $26m as at 31 March 2018. This estimate includes the impact of the $26m acquisition consideration payment for the YuMe transaction. Ted Hastings, CEO of RhythmOne, said: "We are pleased with our results for the year, and the progress we have made against our targets in terms of revenue growth, profitability and product integration. We believe we are well-positioned to deliver a further strong performance in FY2019 - fully in line with current consensus estimates in market - as we realise the full contribution of the YuMe acquisition. "We anticipate that our programmatic platform will continue to serve as the company's principal strategic growth driver, reinforced by video and Connected TV leadership, unique audience data and a commitment to quality and brand safety in our marketplace. Further, we will maintain strong cost discipline, driving efficiency within the company with the aim of sustained profitability and value generation for shareholders." http://www.stockmarketwire.com/article/5938924/RhythmOne-revenue-surges-71pct.html