Telaria Reports Third Quarter 2018 Financial Results
NEW YORK--(BUSINESS WIRE)--Nov 8, 2018--Telaria, Inc. (NYSE:TLRA), the complete software platform to manage video advertising for premium publishers, today announced financial results for the quarter ended September 30, 2018.
Third Quarter 2018 Highlights:Revenue of $13.5 million Gross profit of $11.6 million Gross margin of 86% Adjusted EBITDA (1) of $0.04 million
“Since pre-announcing our results last month, we have taken several major steps to regain our momentum,” said Mark Zagorski, Telaria CEO. “We restructured and expanded our sales organization, adding Adam Lowy, a CTV industry pioneer who led advanced TV at Dish’s SlingTV, as our Chief Commercial Officer, and further built out the team with key sales hires. We also added Doug Knopper, the former co-founder and Co-CEO of Freewheel, to our Board of Directors. These additions underscore the enthusiasm for our core strategy. We are well poised to capitalize on the growing market opportunity in programmatic video as linear and connected TV converge.”
Business Highlights:Adam Lowy named Chief Commercial Officer, fortifying Telaria’s sales team Expanded sales team with key hires in New York and the Midwest Doug Knopper, advertising technology industry leader, added to Telaria’s Board of Directors CTV revenue increased 322% year-over-year and contributed 25.5% of revenue in Q3 2018
Based on information available as of November 8, 2018, the Company expects the following:
Q3 2018 Financial Results Webcast: The Company will host a conference call at 8:00 AM ET today to discuss its results. The conference call can be accessed toll-free at (877) 407-9039 or (201) 689-8470 (Toll/International). The call will also be broadcast simultaneously at https://telaria.com. Following completion of the call, a recorded replay of the webcast will be available on Telaria’s website. To listen to the telephone replay, call toll-free (844) 512-2921 or (412) 317-6671 (Toll/International), replay Pin #: 13683775. The telephone replay will be available from 11:00 AM ET November 8, 2018 through 11:59 PM ET November 15, 2018. Additional investor information can be accessed at https://investor.telaria.com.
Telaria (NYSE: TLRA) is a complete software platform to manage premium video advertising. We engineer the most robust suite of analytics, automated decisioning, and integrated programmatic and direct monetization tools in the industry. Global publishers require total command of their business; Telaria’s independent solution empowers unbiased decisions for the best revenue outcomes.
“Safe Harbor” Statement: This press release contains forward-looking statements that involve risks, uncertainties, assumptions and other factors that could cause actual results and the timing of certain events to differ materially from those set forth in or implied by such forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including statements related to 2018 fourth quarter and full year financial guidance and long-term financial targets. Important factors that could cause actual results or the timing of events to differ materially from those set forth in or implied by any forward-looking statements include, without limitation, risks and uncertainties associated with: the company’s continuing development of its business model; the impact of the disposition of the company’s buyer platform on the company’s operations and financial results, including loss of synergies between the buyer platform and seller platform; unfavorable conditions in the global economy or reductions in digital advertising spend; the company’s ability to effectively innovate and adapt to rapidly changing technology and client needs; increased competition as well as innovations by new and existing competitors; expansion of the online video advertising market; the company’s ability to attract new demand partners and maintain relationships with current demand partners; the company’s ability to increase or maintain spend from existing demand partners, including the Tremor Video DSP buyer platform, which the company sold in August 2017; growth of OTT and connected TV markets; risks of entering new markets in which we have limited or no experience and difficulty adapting our solutions for new markets; the company’s ability to attract sellers of premium video advertising inventory to its platform and secure inventory on terms that are favorable to it; an increase in direct programmatic selling efforts by publishers outside of the company’s platform; the company’s ability to detect fraudulent or malicious activity and ensure a high level of brand safety for its clients; identifying, attracting and retaining qualified personnel; defects, errors or interruptions in the company’s solutions; the company’s ability to collect and use data to deliver its solutions; the impact of tools that block the display of video ads; the effect of legal, regulatory developments and industry standards regarding internet privacy and other matters, including the EU General Data Protection Regulation; maintaining, protecting and enhancing the company’s intellectual property; costs associated with defending intellectual property infringement, securities litigation and other claims; future opportunities and plans, including the uncertainty of expected future financial performance and results; as well as other risks and uncertainties detailed from time-to-time under the caption “Risk Factors” and elsewhere in the company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2017, filed with the U.S. Securities and Exchange Commission on March 2, 2018, its Quarterly Report on Form 10-Q for the period ended March 31, 2018, filed with the U.S. Securities and Exchange Commission on May 8, 2018, it’s Quarterly Report on Form 10-Q for the period ended June 30, 2018, filed with the U.S. Securities and Exchange Commission on August 9, 2018 and future filings and reports by the company, including its Quarterly Report on Form 10-Q for the period ended September 30, 2018.
Forward-looking statements are based on current expectations and beliefs and are not guarantees of future performance or events. Investors are cautioned not to place undue reliance on any forward-looking statements. Furthermore, forward-looking statements speak only as of the date on which they are made, and, except as required by law, Telaria disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.
Non-GAAP Financial Measures: To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles (“GAAP”), Telaria reports Adjusted EBITDA, which is a non-GAAP financial measure. We define Adjusted EBITDA as loss from continuing operations, net of income taxes before depreciation and amortization, total interest expense and other income (expense), net, provision for income taxes and adjusted to eliminate the impact of non-cash stock-based compensation expense, acquisition related costs, restructuring costs, mark-to-market expense, executive severance, retention and recruiting costs, disposition-related costs, expenses for transitional services and other adjustments. We use Adjusted EBITDA for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We believe that the use of Adjusted EBITDA provides useful information about our operating results, enhances the overall understanding of our past financial performance and future prospects, and allows for greater transparency with respect to a key metric that is used by management in its financial and operational decision making. Non-GAAP financial measures should be considered in addition to results and guidance prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. With respect to our expectations under “Guidance” above, reconciliation Adjusted EBITDA guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the costs and charges excluded from this non-GAAP measure, in particular, the measures and effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our stock price. We expect the variability of these costs and charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.
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CONTACT: Telaria, Inc.
Andrew Posen, 212-792-2315
Vice President, Head of Investor Relations
Lekha Rao, 646-226-0254
Vice President, Media Relations & Corporate Communications
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE COMMUNICATIONS ADVERTISING MARKETING
SOURCE: Telaria, Inc.
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PUB: 11/08/2018 07:01 AM/DISC: 11/08/2018 07:01 AM