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Jon,
Literally all your points have been discussed on Seeking Alpha comments and Yahoo BB. I have the same concerns you outlined as well.
Speculating on these matters is just that, something of which we're all guilty. We'll have to wait until earnings and the conference call to learn more, unless statements clarifying the disastrous situation are released prior to then.
One of my big concerns is new language in the 20-F. They talk about risks associated with "Made for Advertising" sites (rubbish clickbait sites). This is very disconcerting for me. Go to SEC filing 20-F, do a search for "Made for Advertising", and read that section. They mention risk of reputational damage and refund demands. Not good.
Oddly enough, when PERI won the supply partner of the year award for MSFT in 2022, they did so for placing good, clean ads, not rubbish. Go figure.
Gino,
I was wondering the same thing about the amount of the settlement. Don't know about clearing debt to make us more attractive...no clue on that direction of speculation. But the amount of debt we paid off surprised me.
Jon,
Not sure if this is a buying opportunity or signs of serious problems with the biz model, and I've been checking.
Mgt is not responding to my inquires, which is unusual and not good, but not necessarily bad. I imagine they're busy putting out bigger fires.
I am waiting to hear the conference call early next month. There are a lot of questions that need answering. Until then I am holding (relatively) tight, and a lot poorer than I was a few days ago.
Thanks Radium,
Yeah, I've been in since August 2019. Bought a lot in the sixes down to the fours, then all the way up to the 30s.
That being said, the damage is bad from the bar set this time last year (52 week high of $42.75), but the damage inflicted upon me (and many of us) by NEXN is also no picnic (US saying?).
75
As is well known here, I am LONG PERI.
Brutal day today. True story, I woke up at 02:55hr to relieve myself. I always check the markets at when I wake. I saw the PERI debacle and my back completely broke out in hives (started to itch...really bad). It took me 90 minutes to get back to sleep.
I've been on this board touting PERI mgt., big time, for years. I am officially eating crow.
Radium,
We're on the same page...except I capitalize the "M" in Money, the "C" in Cash, the "D" in Dough, etc., to show proper respect. It's not a typo or misspelling on my part, it is intentional.
It appears things have settled down since the earnings release...and by down I mean our stock price.
Seems to me the market isn't buying what Ofer's selling.
This can turn quickly if we execute. Too bad I've been saying that for a couple years.
Radium,
We've heard stuff like this before from Ofer over the past several years: More jam tomorrow.
While it may be true, and I pray to Money it is, I shall remain skeptical until shown otherwise.
Hey jon,
I never said we shouldn't have bought Amobee, I said I believe we didn't do proper due diligence; we overpaid for them, then (to paraphrase) we over-promised and under-delivered...which qualifies in my mind as a huge understatement given what's transpired.
About your other posts: I am going to do a deep dive over the next two weeks or so (time permitting) into PERI, TTD, PUBM, MGNI, and even little guy ILLM. After that I'll be able to more intelligently answer the rest of your pertinent questions. I'll also take a glance at others such as CRTO and the big boys, to get a more complete feel for what's going on in our space.
From our press release when we bought Amobee:
Acquisition Highlights
· Expected to generate accretive Contribution ex-TAC and adjusted EBITDA within first twelve months.
· Expands Tremor's global market presence and creates one of the largest CTV and video end-to-end platforms and offerings in the market.
· Significantly enhances Tremor's technology offering and footprint across core growth drivers including self-service DSP, performance, CTV, and data, while adding new insight tools and linear TV capabilities, and unlocking strong potential cross selling opportunities.
· Substantially expands Tremor's US and international reach as Amobee serves over 500 global customers and maintains strong relationships with some of the world's leading media partners, while having limited overlap with Tremor's pre-existing customer base.
· Enhances Tremor's talent base with additional highly experienced industry experts.
· Tremor reiterates its expectation to achieve run-rate operating cost synergies of approximately $50 million on a combined pro forma basis following completion of the integration, with meaningful synergies expected by the end of 2022 and the majority expected by the end of 2023.
Transaction and Financing Details
· The Acquisition consideration of $239 million, as adjusted, was funded through a combination of existing cash resources, and approximately $100 million from a new $180 million secured credit facility. The new credit facility consists of a $90 million secured Term Loan A drawn at closing, and a $90 million Revolving Credit Facility, of which $10 million was drawn at closing. The remaining $80 million capacity on the Revolving Credit Facility will provide the Company with ample liquidity, which may be utilized for future strategic investments and initiatives alongside existing surplus cash resources.
· For the twelve months ended June 30, 2022, Amobee generated preliminary unaudited Contribution ex-TAC of approximately $150 million, excluding the results from Amobee's Email Marketing Platform, which was not part of the Acquisition.
· Tremor will discuss additional details about the Acquisition and Q3 2022 results for both entities on its Q3 2022 earnings conference call.
Updated Combined Company Financial Guidance
· Full year 2022 Contribution ex-TAC of approximately $330 million
· Full year 2022 Adjusted EBITDA of approximately $160 million
· Full year 2023 Contribution ex-TAC of approximately $500 million
· Full year 2023 Adjusted EBITDA of approximately $200 million
Radium,
It doesn't matter how much one spends if they spend foolishly.
Amobee was bleeding cash when we bought them. Look what's happened to our company's valuation and our financial performance since we bought them.
Same thing with R1.
Then compare that to PERI's performance post acquisitions.
Night and day.