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Millennial Media's CEO Discusses Q2 2012 Results - Earnings Call Transcript

For detailed disclosures of the risks and uncertainties that could cause our results to differ from today’s discussions, please refer to today’s press release as well as the documents we filed from time to time with the Securities and Exchange Commission, including the Form 10-Q that we filed for the second quarter ended June 30, 2012.

Also I’d like to remind you that during the course of this conference call we may discuss non-GAAP measures of our performance. Reconciliations to the most directly comparable GAAP financial measures are provided in today’s press release and on our website under the Investor Relations section.

Today’s call is available via webcast and a replay will be available following the conclusion of the call for one week. To access the press release, supplemental financial information or the webcast replay, please consult the Investor Relations section of the Millennial Media website.

Now I will turn the call over to Paul Palmieri, Co-founder, President, and CEO of Millennial Media.

Paul J. Palmieri

Thanks, Andrew. Good afternoon. And thanks to everyone joining us on the call. This is both our second quarterly earnings report and our second consecutive quarter of delivering strong revenue growth ahead of expectations since our IPO in March.

We continue to be at the center of the massive secular trend of mobile and are experiencing the growth that is consistent with the promise of this exciting market. For the second quarter of 2012, we reported a 76% year-over-year increase in revenue to $39.4 million. Strong gross margin of 39.7%. Continued sequential improvement in adjusted EBITDA and bottom line performance, growth in key metrics in Millennial Media’s developer base, unique users and large brand advertising clients and to reflect our strong Q2 performance and positive outlook we’re raising our full-year guidance on both revenue and adjusted EBITDA.

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