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RhythmOne sees improvement despite lower revenues

Revenues would be at least US$80mlnin in the six months to September said the former Blinkx

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Profitability picking up said former Blinkx

RhythmOne PLC (LON:RTHM)  said its performance had improved in a number of areas over the past six months though sales continued to decline.

Revenues would be at least US$80mlnin in the six months to September said the former Blinkx, compared to US$91.4mln a year ago.

Of that, 80% came from mobile, video and programmatic products with at least US$55mln from programmatic a 45% improvement year-on-year.

Programmatic marketing uses an automated software process digitally to place an advert or campaign.

Underlying losses [EBITDA] will be US$2.9mln compared to US$6.84mln a year ago.

“Importantly, the company achieved increasing profitability on an adjusted EBITDA basis in each of the last two months of the period, significantly ahead of internal estimates,” said RhythymOne.

“Total programmatic transaction volume grew by over 85% year-on-year, with notable increases in quality.”

"Within a year, the team has successfully built an industry-leading, programmatic platform, which currently ranks #4 in size and #3 in quality, as measured by comScore and Pixalate, respectively,” said Brian Mukherjee, chief executive.

“We have set the stage for both top-line revenue growth and a return to full year profitability in FY2017," he added.

Quick facts: RhythmOne

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AIM:RTHM
Market: AIM
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