This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Millennial Media Reports Q2’12 Financial Results

Stocks in this article: MM

Millennial Media, Inc. (NYSE: MM), the independent leader in mobile advertising, today announced financial results for the second quarter ended June 30, 2012.

Financial Results and Business Highlights

Total Revenue: For the second quarter of 2012, total revenue was $39.4 million, a 75.6% year-over-year increase from total revenue of $22.4 million for the second quarter of 2011.

Gross Margin: For the second quarter of 2012, gross margin improved to 39.7%, compared to 39.1% for the second quarter of 2011.

Adjusted EBITDA: For the second quarter of 2012, adjusted EBITDA, a non-GAAP financial measure, which we define as net income or net loss before interest, taxes, depreciation and amortization, and non-cash stock-based compensation, was $(0.7) million, compared to adjusted EBITDA of $(2.4) million for the first quarter of 2012, and adjusted EBITDA of $(0.1) million for the second quarter of 2011.

Net Loss: For the second quarter of 2012, net loss was $(2.2) million, compared to a net loss of $(4.0) million for the first quarter of 2012 and a net loss of $(152,000) for the second quarter of 2011.

Net Loss per Share: For the second quarter of 2012, on a GAAP basis, basic and diluted net loss per share was $(0.03), compared to basic and diluted net loss per share of $(0.09) for the second quarter of 2011.

Other Business Metrics: As of June 30, 2012, Millennial Media reached over 350 million monthly unique users worldwide, including approximately 140 million unique users in the United States alone. More than 35,000 apps were enabled by mobile app developers to operate on Millennial Media’s platform as of June 30, 2012.

“We delivered strong revenue growth of 76% year over year, along with expanded gross margin performance and improved operating leverage in the second quarter,” stated Paul Palmieri, Co-Founder, President and CEO of Millennial Media. “We now have over 35,000 enabled apps on our mobile advertising platform, which we believe underscores the compelling value proposition we bring to our developer partners. During the quarter, we also grew our base of advertising clients who rely on us to deliver targeted audiences for high impact campaigns across a broad range of mobile devices. With our large and growing data asset, along with a targeted approach that harnesses the unique capabilities of mobile devices, we continue to power the app economy, both domestically and increasingly into new international markets.”

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs