The artificial intelligence provider for digital advertisers reported an adjusted net loss of $3.8 million, or 11 cents a share, compared to a loss of $0.5 million, or 7 cents a share, in the same period one year earlier. Revenue increased 70% year-over-year to $92.6 million from $54.4 million. Analysts had expected a loss of 22 cents a share on revenue of $90.22 million.
The company also issued third-quarter revenue guidance in the range of $96 million to $100 million and full-year guidance of $403 million to $427 million, down from the company's previous full-year guidance of $420 million to $435 million. The consensus estimate calls for third-quarter revenue of $109.63 million and full-year revenue of $422.64 million.
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Rocket Fuel also announced an agreement to purchase [x+1], which provides programmatic marketing and data management solutions.
The stock was down 24.44% to $18.70 at 4:57 p.m.FUEL data by YCharts