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Tremor International Ltd (AIM: TRMR), a global leader in advertising technologies, announces that application has been made to the London Stock Exchange plc for a block admission of 2,000,000 ordinary shares of NIS0.01 each in the capital of the Company ("New Ordinary Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur on or around the 10 May 2021.
These New Ordinary Shares shall be issued and allotted from time to time pursuant to the exercise of share options and the vesting of restricted share units (RSUs), performance share units (PSUs) and restricted shares under the Company's Global Share Incentive Plan (2011), the Company's 2017 Equity Incentive Plan and the New Taptica Management Incentive Scheme and RhythmOne Plan. The New Ordinary Shares, when issued, shall rank equally with the Company's existing issued ordinary shares. SO for the allotment of the shares that are periodically due.
osteosingh it looks like they are shares to be held that I class as the "Freebies" , for the directors for performance related grants. If you look at the directors dealings they regularly get them, and will get even more when we list on the US.
Cash and Cash Flow from Operations: As of March 31, 2021, cash and cash equivalents and short-term bank deposits were $128.0 million. Cash provided from operations in the first quarter of 2021 was $13.5 million, compared to $2.5 million in the first quarter of 2020. During the first quarter of 2021, Perion raised $61 million through a follow-on public offering.
Short-Term Debt, Long-term Debt and Convertible Debt: As of March 31, 2021, Perion has fully repaid all outstanding debt.
Based on the strong first quarter and management’s outlook for the remainder of the year, Perion increases its full-year guidance. In 2021, management expects to generate revenues of $390 million to $410 million and Adjusted EBITDA of $39 million to $41 million, versus prior guidance of $370 million to $380 million and $37 million to $38 million, respectively.
Perion will host a conference call to discuss the results today, Tuesday, May 4, 2021 at 8:30 a.m. ET. Details are as follows:
Conference ID: 1398309
Dial-in number from within the United States: 1-800-289-0438
Dial-in number from Israel: 1809 212 883
Dial-in number (other international): 1-323-794-2423
Financial Comparison for the First Quarter of 2021
Revenues: Revenues increased by 36% (or 26% on a pro forma basis), from $66.1 million in the first quarter of 2020 to $89.8 million in the first quarter of 2021. This increase was primarily attributable to a 61% (or 32% on a pro forma basis), increase in Display and Social Advertising revenues, mainly from the CTV solution which served as a key driver to 11% higher average deal size, as well as accelerated growth in revenues from our Content Monetization solution which has been adopted by 3 new publishers during the first quarter of 2021. Search Advertising and other revenues increased by 22%, primarily due to a record 17.7 million of average daily monetizable search queries we delivered to Microsoft Bing compared to 12.2 million in the first quarter of 2020 and increased number of new publishers.
Customer Acquisition Costs (“CAC”): CAC in the first quarter of 2021 were $54.9 million, or 61% of revenues, compared to $36.1 million, or 55% of revenues, in the first quarter of 2020. The increase as a percentage of revenues is primarily due to the acquisition of Pub Ocean and product mix.
Net Income: On a GAAP basis, net income increased by 148% from $1.3 million in the first quarter of 2020 to $3.3 million in the first quarter of 2021.
Non-GAAP Net Income: In the first quarter of 2021, non-GAAP net income was $7.0 million, or 8% of revenues, compared to the $5.0 million, or 8% of revenues in the first quarter of 2020. A reconciliation of GAAP to non-GAAP net income is included in this press release.
Adjusted EBITDA: In the first quarter of 2021, Adjusted EBITDA was $8.8 million, or 10% of revenues, compared to $6.2 million, or 9% of revenues, in the first quarter of 2020. A reconciliation of GAAP Net Income to Adjusted EBITDA is included in this press release.
Cash and Cash Flow from Operations: As of March 31, 2021, cash and cash equivalents and short-term bank deposits were $128.0 million. Doron Gerstel, Perion’s CEO, commented, “Our diversified cross-channel offering and our unique capability to generate revenues from both the demand and supply sides of the open internet, were key factors to the accelerating revenues growth which began in 2020. Our strong momentum continued in the first quarter as we achieved a 36% increase in consolidated revenues, with Display and Social Advertising revenues increasing 61% year-over-year. Importantly, we achieved this while maintaining our strong profitability metrics and positive cash generation.”
Mr. Gerstel added “With continued momentum and strong adoption of our technology, we are raising our full-year revenues outlook to $400 million at the mid-point, representing second consecutive year with annual growth of more than 20%. We are also reaffirming our strategy to deliver substantial value to our stakeholders and achieving our 2023 goal of $500 million in annual revenues sooner than originally anticipated.”
Malbright06, IF, and i repeat, IF, they continue to get it right, it won't take 2 years to get to £12. If the listing in the USA goes well, it COULD, be £12, in 2 months. As I said, If, and a big, IF, but, not impossible.
petra53, I am not so sure that whatever short polygon has, will affect the share price. It didn't stop it going to the mid40s previously, so the only reason which will stop us now, are the production figures and the gold price. If it is, as some suggest, an arbitrage play against the bonds, thy can cover it at any time, IF they have the bonds.
Cant see any other reason.
Sharenicely now, Am I a dissenter, ?? I have to admit, if I was I would be a hypocrite, because without the share price appreciation, I would be even more in the red than I am now. What this has given me is a chance, to reverse those fortunes.
If they can manage to get this US listing up and running and successful, then they will probably say they deserved it.
My philosophy, is share options should always be a bonus for success. I would normally suggest success as profits, cash appreciation and share price appreciation performance.
As of 31 March 2021, the Group’s unaudited cash and deposits balance was c.US$41.5 million. The payment of US$8.5 million to Gazprombank as principal repayment and interest was made in accordance with the repayment schedule. The total debt outstanding as of 31 March 2021 amounted to c.US$198.7 million, all of which represents the loans from Gazprombank. Need to keep building those cash resources.
Tremor International Ltd (AIM: TRMR), a global leader in advertising technologies, announces that, on 29 April 2021, Ofer Druker, Chief Executive Officer, and Yaniv Carmi, Chief Operating Officer, sold 247,719 and 92,960 ordinary shares of NIS0.01 each in the capital of the Company ("Ordinary Shares") respectively. The Ordinary Shares were sold at an average price of 720.1225 pence per share and were sold in order to cover part of the tax obligations triggered by the vesting of the shares.
Quick calculation suggests thats about £250000 and £70000, thats some tax bill, on the FREEBIES.
KRSS, My last post on the debate, as it appears we differ. I am not interested in buying IRC, I would also not be interested in increasing our percentage. If the iron ore price stays high, IRC should make money. That means it can repay its debt to us.
If it flourishes brilliant, but, as updownflat posts what happens if Iron Ore goes the other way. It isn't too long ago it couldn't even pay its debts. Pavel wanted to get rid of it for chickenfeed, I was against that. But I would also be against increasing our stake. That is my final word on it ..............For Now, unless something changes to make me want to comment again.
KRSS, Firstly we have not got the money. Secondly, this is NOT the time to increase stake in IRC that was, when price was considerably lower. Answer me this, why would increasing a stake in IRC be preferable to buying the remaining part of a GOLD deposit , namely TEMI or repaying more gold pre-pay, or buying gold concentrate for processing.
I have said before I will say again, Retired Banker, Kenj when he used to post and others were all for getting rid of IRC and losing the guarantee. I was not, not at the price talked about, anyway. But, I see no reason to increase holding.
KRSS That is a load of rubbish. 30% granted is normally a compulsory offer, but you can also get specific permission before you buy the shares to be allowed to own more than 30% without mandatory offer. Mike Ashley owns more than 50% at sports direct.
40% gives more rights than 30% and 49.9% more than 40% for obvious reasons. ut you don't have a controlling stake until you have 50.1% of the votes, because you can then not lose a vote, ( unless you vote against yourself ) Any one holding more than 40% does not control the company, and any voting depends on the articles of association. Some requiring a majority vote, which is over 50% but, a lot needing 70%.
I don't know why we are having this conversation though, because its not happening anytime soon, and as far as I am aware, it certainly hasn't been published, the sale is not off the table yet. ( If it was ever on )
KRSS its quite clear why you didn't get to Harvard or Hoaward, Stanford, Redrobb shows what a controlling interest is.
In my opinion we have plenty shares in IRC, along with the guarantee. If IRC does well brilliant, but lets concentrate on getting right our bread and butter.