YuMe Reports First Quarter 2014 Financial Results

YuMe, Inc. (NYSE: YUME), a leading provider of digital video brand advertising solutions, today announced its financial results for the first quarter ended March 31, 2014. Financial highlights include:
  • Revenue of $37.3 million, an increase of 40% from the first quarter of 2013 (Q1 2013);
  • Gross margin of 45.9%, compared to 45.3% in Q1 2013;
  • Adjusted EBITDA 1 loss of $2.7 million, compared to a loss of $1.6 million in Q1 2013;
  • Net loss of $5.1 million, or $0.16 per diluted share, compared to $3.3 million, or $0.69 per diluted share, in Q1 2013;
  • $58.7 million in cash, cash equivalents and marketable securities as of March 31, 2014.

“With strong financial performance and the launch of our Video Reach programmatic offering, YuMe’s first quarter was a great start to 2014,” said Jayant Kadambi, Chief Executive Officer of YuMe. “We continue to invest in data sciences and our unique cross-screen capabilities to deliver on the promise of digital video for our TV brand advertisers, and we remain confident in our ability to execute on our 2014 financial objectives.”

Customer highlights for the first quarter of 2014 include:
  • 351 advertising customers, an increase of 37% from 256 in Q1 2013;
  • Average revenue per advertising customer of $104,000, an increase of 3% from $101,000 in Q1 2013.

Customer highlights for the twelve month period ended March 31, 2014, include:
  • 634 advertising customers, an increase of 27% from 500 for the twelve month period ended March 31, 2013;
  • Average revenue per advertising customer of $234,000, a decrease of 4% from $243,000 for the twelve month period ended March 31, 2013.

Business Outlook:

Today, the Company is providing the following estimates for its key financial measures for the second quarter and full year 2014:
      Q2 2014     FY 2014
Revenue

$40 - $42 million

$190 - $200 million
Adjusted EBITDA

$(4.0) - $(2.0) million
$2.0 - $8.0 million
 

CFO Transition:

YuMe also announced today that Timothy Laehy will step down from his role as chief financial officer, effective May 23. Mr. Laehy has served as YuMe’s CFO for over three years, during which time he built a strong finance organization and helped lead the Company through its IPO.

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