Tremor Video, Inc. (NYSE:TRMR), an advertising technology company elevating brand performance across all screens for the world’s leading brands and publishers, today announced financial results for the first quarter 2014.
“Our first quarter top line growth of over 40% demonstrates our customer traction in delivering brand performance solutions across all screens,” said Bill Day, President and CEO of Tremor Video. “We’ve been a great strategic partner to the largest TV advertisers and as a result have grown revenue across our key verticals this quarter.”
“We are also continuing to make great strides towards building a complete end-to-end programmatic offering. Our DSP goes live in the second quarter, and we expect to release a SSP for premium publishers later this year.”
Q1 2014 Financial SummaryRevenue: For the first quarter of 2014, total revenue was $34.9 million compared to $24.8 million for the first quarter of 2013, representing a 40.8% increase over the same period one year ago. Gross Margin: For the first quarter of 2014, gross margin was 34.2% compared to 44.1% for the same period one year ago. Net Loss: For the first quarter of 2014, net loss was ($7.2) million compared to a net loss of ($5.2) million for the same period one year ago. Adjusted EBITDA: For the first quarter of 2014, Adjusted EBITDA, a non-GAAP financial measure, was ($4.6) million compared to Adjusted EBITDA of ($2.8) million for the same period one year ago. EPS: For the first quarter of 2014, basic and diluted net loss per share was ($0.14). Non-GAAP basic and diluted Adjusted EBITDA per share was ($0.09). Basic and diluted net loss per share and Non-GAAP basic and diluted Adjusted EBITDA per share are based on 50.3 million weighted average shares of common stock for the quarter ended March 31, 2014. 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.”