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Jonhas:

RE: "With a rational 360 degree review, I think PERI would do well to be on the same rating as TRMR."

Did you mean to say "With a rational 360 degree review, I think TRMR would do well to be on the same rating as PERI"?

BTW: I forgot to include quotation marks around the first sentence of my 16:50hr quote below. It was a headline from PERI.

The part about pro-forma was from a question I asked during the call, which management was kind enough to answer.

Perion’s Momentum Continues, Achieves Record Second Quarter With Revenue Up 34% Year-over-Year, Net Income Up 175% YoY.

Pro forma income up ca 20%.

I'll take it given the macro environment.

Fingers crossed we (TRMR) come close to this over the second half of this year.

Earning announcement then conference call at 05:30hr Pacific Time (that's 13:30hr UK time).

This is one to watch.

SNN,

We benefit from your "addiction".

Please do not let your (our) positive bias get in the way of the facts.

We all must be cognizant of the fact that if there's Money to be made, there will be huge competition for that Money.

Tanking is an understatement. Currently down 26% AH trading.

But ROKU was more expensive fundamentally than TRMR, even though it was down from a 52 week high of $472 to $85.17 at today's close. Now it's trading at a new 52 week low for the year in AH trading.

Jonhas,

The article is almost two years old. Since then, Amobee's lagged the ad tech space. I don't think TTD has any reason to worry. I would love to be proven wrong.

Hey SNN,

I just reread my post. I didn't say what I meant to say. You are correct, Sigi said it's been flat for the prior two years coming to the last TTM.

I agree with the rest of what you wrote in your first paragraph in your below 22:14hr post.

I need to look at the numbers to see the receivable (net of bad debt) vs payable, but if we're indeed net positive on that front, of course that makes the purchase price lower.

The Good, the Bad, and the Ugly...great spaghetti western...we certainly want The Good in this case.

Hey Wouty,

Neither the question nor the eventual answer for the first question surprised me in the least. The only thing that bothered me was the way Ofer acted like a politician in his non answer on the rev growth question, and the fact that Sigi wouldn't give us the number on net loss. I agree with your assessment about why they didn't give us the number, because they may have been materially worse than the 22 million US EBITDA loss, because the parent company may benefit from the tax loss against future profits.

We know they Amobee was a distressed entity, so why not put it all out there, warts and all?

Hey Curly,

How've you been?

The only good thing about the lying kvnt is the fact that he brings you out to throw in your two cents every so often.

Hey Wouterius,

I doubt the interest rates will remain low for long; I'll be more than a little surprised if our loan terms are on a fixed rate basis.

Still, I agree with you on not diluting us further, especially at the very low valuations we're currently suffering.

Does it bother anyone else the way Ofer was dancing around the question of Amobee's top line growth over the trailing twelve months, to the point where Sigi felt compelled to jump in and answer 'it was basically flat'?

Also, they wouldn't tell us what their net loss was for the trailing twelve months. Of course they know the number, but wouldn't tell us. I find this a bit troubling.

Still, we'll give them the benefit of the doubt; we need to wait another year (hopefully less) to find out how good this deal is to us ultimately.

Amobee lost $22 million EBITDA for the trailing 12 months from June 2022, this on $150 million in revenue ex-TAC.

Now it's time for these guys to earn their keep.

I have my doubts.

SNN,

Thanks. And by 2021 in the below sentence, I take it you meant calendar year 2021 when you referred to not recovering in 2021:

"What is more concerning, is that they did not recover in 2021, and have posted a big loss for their YE 31 March 2022."

If there is an acquisition, is anyone taking bets on if (or how much) the top three will award themselves for a job well done?

I meant to add the following sentence at the end of the below post:

Fingers crossed they learned their lesson from the R1 purchase, and they dig deep into Amobee to find any possible pitfalls.

RE: "In its annual report for 2021, Singtel confirmed that Amobee’s revenue dropped 18% compared to the previous year and that options it was exploring as part of its strategic review included “a full or partial divestment or business combinations with other industry players.”

The fact that their revenue dropped 18 percent YoY from 2020 is more than a little troubling.

What happened in 2020?

Most of the world shut down for at least half the year due to covid. The easiest comps in memory were 2021 numbers over 2020. Either Amobee is a dog with fleas, or Singtel are totally incompetent operators.

I've mentioned a number of times the poor due diligence Taptica (TRMR) did when they bought many of us out of another dog with fleas, R1. They admitted as much within a week after the deal closed.

The below being said, we all know TRMR are looking to acquire some entity.

As are PERI, and pretty much anyone in this space who has the need, and more importantly the ability, to so do.

SNN,

How funny, I came here to post the below, and saw your post on the same topic:

One month ago today the speculation was an announcement within a fortnight (so much for speculation):

Singtel hired Moelis, the investment bank, to explore strategic options for Amobee just over a year ago.

One banker suggested that a deal could be struck between Tremor, which is being advised by Goldman Sachs, and the seller in the next fortnight.

Tricky,

RE: "a bit of a stickler".

You nailed it.

I never claimed to be easy going...because easy going I am not. I am what I am, and I am more than fine with it. "I dig my gig."

What is bad old stick?

old stick. A person (used in a familiar, offhand, or mildly disparaging manner). Primarily heard in UK. He's a bit strange, but he's not a bad old stick, all the same.

I have several, one mantra being "shoe on the other foot"...which leads to 'treat others how you want them to treat you'.

Also, if a friendship / relationship is too much work, eff it.

And if people you don't know think you've no Money, they'll leave you the eff alone.

Among others.

Hey JR,

Thanks for the kind words. From what I've learned throughout my life, people who live within their means and are financially secure and comfortable have many of the same problems, the only difference being the number of zeros on their financial statements.

It's all relative.