Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Tricky,
Those were ALL before they merged with RTHM..
Here's another piece before rthm merged with TAP:
rthm was the first company to be awarded the IAB's OpenRTB Compliance Seal and OpenRTB Certification 2 yrs ago...
https://www.rhythmone.com/news/2017/05/16/rhythmone-first-to-achieve-iabs-openrtb-certification#Et1VXeJRzMb3KZyY.97
Despite that rthm has continued to make huge losses and have shown declining cash..
Since rthm published the OpenRTB award, their sp has declined from around 500p to currently around 115p..
Despite the awards, neither rthm nor TAP appear on the list I posted in my previous post...
Industry article on Real Time Bidding market...
Latest Research on Real-Time Bidding Market Top Players Shaping Business like Google, WPP plc, Adobe, Criteo Advertising, Facebook, PubMatic, Smaato, Yandex, Salesforce, Rubicon Project.
https://thewirenewsnow.com/latest-research-on-real-time-bidding-market-top-players-shaping-business-like-google-wpp-plc-adobe-criteo-advertising-facebook-pubmatic-smaato-yandex-salesforce-rubicon-project/7867/
These buy backs are supposed to support the sp. Yet the sp is still below the placing price.
What will happen if the buy backs stop?
Tricky,
"All companies have hiccups and none are guaranteed to be 'on the ball' all of the time.
TTD had a good run lately, Tap has had some very good results recently too, as well as a few others "
Yes, all companies have hiccups but companies normally learn from them and move forward..rthm, pre TAP merger, have a long history of hiccups, making losses for years. They also operate a full stack.
Singer took over rthm in Feb 2018 and got shot of them within a few months, with 2 CFOs resigning, DataXu court case settled and a warning about Material weaknesses in their internal financial reporting..
We haven't had fy 2019 results to see what were the consequences...
rthm sp has fallen from around 500p a couple of years ago to currently around 110-115p (rthm equivalent)... a fall of around 80% within 2 yrs..
Maybe an update in June/July will provide some clarity..
There will also come a point when a lot of red flags are already factored into the sp.
Eddie,
Interesting post...
Since I mentioned a couple of years ago that Methbot/P&G demands will lead to a NEED for changes, Industry Challenges in 2017, and 2018 onwards, should be a year we see the CONSEQUENCES of those Industry Challenges, the rthm sp has crashed from around 500p to around 110-115p (rthm equivalent).
That's a huge 80% fall over the past 2 yrs.
Have you been topping up heavily whilst rthm/TAP have continued to disappoint, as expected? Maybe listening to both bull/bear posts, and reading company/industry stats/newslfow would have saved you a lot of hassle!!
But each to their own.
The danger is always that PIs who are heavily underwater will post anything to convince others that everything is great..
Anyway, as always stated, it's best for everyone to do their OWN research and form their OWN opinion...
Fund,
Agree...
at current buying rate, buy backs may stop around mid June.
"Gravity may return when the buybacks stop."
Yes, likely..
Tricky,
"The Trade Desk slumped 14.5% yesterday on the back of good results because TTD's guidance included calls for its sales and earnings growth to decelerate going forward."
Yes the problem is TTD posted outlook 'in line', whereas some investors were expecting 'above expectations'... so their sp is taking a breather..
The Trade Desk declines as 'in line' spooks investors..
"The stock's decline follows The Trade Desk's first-quarter results. Though the quarter's top- and bottom-line results crushed estimates, high expectations meant in-line second-quarter revenue guidance spooked some investors."
https://www.fool.com/investing/2019/05/09/why-the-trade-desk-stock-was-slammed-thursday.aspx
The Trade Desk..
After merging with rthm in April, Tap operate a full stack..
Reasons why The Trade Desk continues to flourish..
The Trade Desk is more successful than the smaller players.. addressing the Industry Challenges..
Single sided approach...move to fee transparency..
The Trade Desk’s Revenue Is Up, And Benefits From General Ad Tech Slide
"The company has also maintained 95% client retention rates since before it went public, solidifying its position as the runaway leader among independent demand-side platforms."
"The company laid out some of its plans to continue differentiating itself from the ad platform giants, as well as from smaller rivals in the ad tech ecosystem."
"On both the buy side and sell side, ad tech companies have seen their margins whittled down by brands and publishers trimming their roster of partners and demanding lower fees."
https://adexchanger.com/online-advertising/the-trade-desks-revenue-is-up-and-benefits-from-general-ad-tech-slide/
TremorDSP was sold to Tap. Now after merging with rthm in April, TAP operate a full stack...
Tremor Video DSP Acquisition Points to the Importance of Being Specialised in Video
"Do you think this signals an emerging trend in the industry on consolidation, focusing on best-in-breed products, rather than building full-stack solutions?
Absolutely, focusing product and engineering resources on differentiated, best-in-breed products is key to success and has played out as a strong trend in the past year. Only Google and Facebook are large enough to do both. Other players need to develop a unique value proposition that allows them to compete in a crowded market.
We believe that, with video, it is particularly important to be specialised. Tremor Video DSP was built for video from day one and that has allowed us to scale in sight, sound, and motion across all screens as an alternative for marketers to linear TV."
https://www.exchangewire.com/blog/2017/09/22/tremor-video-dsp-acquisition-points-importance-specialised-video/
DrShaggy,
"Interesting to note that when the big boys buy the price falls."
seems that way, doesn't it?
Tosca held 29% of rthm in June 2017, when the sp was around the 500p mark...This was just before BM, rthm's CEO resigned and the rthm/Yume takeover announced, Singer & co taking over rthm....
Which was then followed by 2 CFOs resigning and the rthm/TAP merger...
Since the June 2017 Tosca announcement, the sp has been on a slide ever since...current rthm equivalent being around 110p...
Therefore,Tosca/River & Mercantile increasing their holding doesn't prove anything...
It's down to the company to back up their business plan with solid results and outlook, addressing Industry Challenges...The sp will take care of itself...
https://www.proactiveinvestors.co.uk/LON:RTHM/RhythmOne/rns/LSE20170629165752_13278460
https://finance.yahoo.com/quote/RTHM.L/history/
Tosca and River & Mercantile were significant holders of rthm back in 2017, weren't they?
Before rthm reported disappointing results for fy2017..
the sp around the time of the fy2017 results was 500p compared to the current rthm equivalent of 112p...
The IIs holdings didn't make any difference then. Why should it make any difference now?
Tricky,
"TAP merged with R1 in full knowledge of the previous history, it is splitting hairs to say they did not know the full books nor the operational details, immediately prior to the merger."
EVERYONE can read the Finncap Note of 2nd April and see what is CLEARLY stated by the house broker, can't they?
Free to register..
Go to 'Our Services' then select 'Research'.. Click 'Research Portal' and enter 'Taptica'.
Select the Note from 2nd April 2019.
https://www.finncap.com/
Tier,
Finncap is free to register.
It's worth reading the Finncap note from 2nd April and watch the Investor Roadshow webcast.
It'll make things clearer as to how TAP merged with rthm without having looked at the full books nor operational details of rthm, prior to the merger completion...
Both free to register...
finncap:
https://www.finncap.com/our-services/research
Investor Roadshow:
https://www.piworld.co.uk/2019/04/12/taptica-tap-investor-presentation-april-2019/
Tricky,
"stt1 - you seem to have slipped a minus sign in after the 2019 EPS forecasts.
Were you hoping to mislead people?"
Have I, where??? Read the post... it shows (last year 0.47)
The (-) after the fy2020 EPS forecast is what it shows on the reuters website for 'last year'...
https://www.reuters.com/finance/stocks/analyst/TAP.L
scorpion,
"which slightly more helpfully does include the contribution from Rthm which the Reuter’s estimates don’t."
Correct and I was comparing the forecast for TAP ONLY, which is why I mentioned '2 months ago', pre-Rthm/TAP, which was completed beginning of April......
according to Reuters, forecasts have been reduced..
Sales
fy 2019 $279m (2months ago, $354.90m, last yr $364m)
fy 2020 $287m (2months ago, $387m, last yr -)
EPS
fy2019 0.41 ( last yr 0.47)
fy2020 0.43 (-)
https://www.reuters.com/finance/stocks/analyst/TAP.L
Shares on Loan (SoL)... Avg number of Shares on Loan for April - increased from 3.13m to 5.39m... Dec 1.78m 2.41% TAP 2.3m 3.42% 2019 Jan 1.58m 2.14% TAP 2.5m 3.71% Feb 1.41m 1.89% TAP 3.07m 4.51% Mar 1.35m 1.78% TAP 3.13m 4.61% Rthm/tap Merger... Apr 5.39m 4.18% https://www.euroclear.com/en.html
Tricky "Only last year Rubicon were to be sued by 'The Guardian' for undisclosed fees, a development that prompted the company’s leadership to address its fee structure, resulting in it dropping its buy-side fees." Yes and Rubicon addressed the Industry moves to fee transparency... They publically announced that they resolved their dispute with the Guardian... They did take a hit by abolishing buy side fees... Over 50% loss in revenue.. Can you please post where rthm publically announced an amicable solution to their court action against their partner DataXu? How much revenue would rthm lose if they also abolished opaque fees? And Rubicon operate 1 side of the ecosystem... Rubicon/Guardian have since declared pubically that have reached a mutual agreement.. https://www.wsj.com/articles/the-guardian-and-ad-tech-vendor-rubicon-project-settle-legal-dispute-1539348209 Rubi results after addressing fee transparency... Rubicon Project Reports First Quarter 2019 Results "as well as our strong overall competitive position during a time when buyers continue to reduce the number of exchanges they work with. Our success is a direct result of the many actions taken over the past two years, and we expect our business will further benefit from investments on the seller side of the business in 2019." https://finance.yahoo.com/news/rubicon-project-reports-first-quarter-200500185.html I haven't seen anything in the public domain from rthm? rthm/DataXu https://adexchanger.com/online-advertising/rhythmone-dataxu-tussel-unpaid-bills-hidden-fees/ rthm/DataXu court action.. https://www.pacermonitor.com/public/case/22028832/RhythmOne_LLC_v_DataXu,_Inc
Tardis, Thanks.. You mention The Trade Desk and Rubicon Project as competitors to use for comparing against... Rthm and now TAP operate a full stack.. The Trade Desk & Rubicon Project don't... And Rubicon announced their results in which they stated that the strategy adopted over the past couple of years is paying off.... This included tackling Industry Challenges 'move to fee transparency' & move to fewer exchanges, DSPs/SSPs... Therefore, I can't see how you can use them for comparing with TAP/rthm as their models are different... How The Trade Desk Has Evolved For The Next Stage Of DSP Growth https://adexchanger.com/online-advertising/how-the-trade-desk-has-evolved-for-the-next-stage-of-dsp-growth/ The Trade Desk (TTD) previously quoted as saying that their one sided approach was the key to its success...other companies have also ditched both sides... "Many companies that tried to run ad tech businesses on both sides later have sold one side off: Rubicon shut down buy-side platform Chango, with then-CEO Frank Addante admitting the acquisition was a failure. Tremor Video just sold off its buy-side business to focus on the supply side. Amobee sold its sell-side business to focus only on the buy side. The Trade Desk, which has seen its stock skyrocket post-IPO, consistently cites its single-side, agency-focused approach as a key to its success." https://adexchanger.com/platforms/appnexus-buy-side-falls-wayside/ Rubicon recent results: Rubicon Project Reports First Quarter 2019 Results "as well as our strong overall competitive position during a time when buyers continue to reduce the number of exchanges they work with. Our success is a direct result of the many actions taken over the past two years, and we expect our business will further benefit from investments on the seller side of the business in 2019." https://finance.yahoo.com/news/rubicon-project-reports-first-quarter-200500185.html
Good posts Fundpanda.. 2 companies with questionable pasts coming together doesn't resolve underlying problems... Rthm have been loss making for years..
Tardis, " Our current SP is massively below most of our competitors on a like-for-like basis." Can you please expand on which competitors are you referring to and which metrics are you using?