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Tremor Video Reports Third Quarter 2013 Financial Results

Tremor Video, Inc. (NYSE: TRMR), a leading provider of technology-driven video advertising solutions, today announced financial results for the third quarter of 2013.

“During the third quarter, Tremor Video announced VideoHub Connect, a premium programmatic solution that will allow advertisers to optimize on brand performance as well as price and reach,” said Bill Day, President & CEO of Tremor Video. “Brand advertisers need brand safe environments in order to follow their customers as they migrate viewing across screens. We are excited to offer the first platform that will allow advertisers to optimize video on brand performance to help accelerate the shift from TV to online video.”

Q3 2013 Financial Summary

Revenue: For the third quarter of 2013, total revenue was $35.3 million, a 17% increase over the same period one year ago. In-stream revenue was $34.4 million, a 19% year-over-year increase.

Gross Margin: For the third quarter of 2013, gross margin was 40.3% compared to 44.6% for the same period one year ago.

Net Loss: For the third quarter of 2013, net loss was ($2.2) million compared to a net loss of ($1.7) million for the same period one year ago.

Adjusted EBITDA: For the third quarter of 2013, Adjusted EBITDA, a non-GAAP financial measure, was $0.1 million compared to Adjusted EBITDA of $0.7 million for the same period one year ago.

EPS: For the third quarter of 2013, basic and diluted net loss per share was ($0.05). Non-GAAP basic and diluted Adjusted EBITDA per share was $0.00 and $0.00, respectively. Basic and diluted net loss per share is based on 49.1 million weighted average shares of common stock outstanding as of September 30, 2013. Non-GAAP basic and diluted Adjusted EBITDA per share is based on 49.1 million and 53.2 million weighted average shares of common stock outstanding as of September 30, 2013, respectively.

A description of the non-GAAP calculations and reconciliation to comparable GAAP measures is provided in the accompanying tables entitled “Reconciliation of Non-GAAP Financial Information” and “Reconciliation of Non-GAAP Financial Information-Per Share.”

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