Propel Media Reports $34.5 Million of Adjusted EBITDA for 2017, up 57% over 2016
March 30, 2018
2017 Revenue of $88.7 Million, representing 45% growth over 2016
Irvine, California – March 29, 2018. Propel Media, Inc. (OTCPink:PROM), a performance focused digital media and advertising company, today announced its financial results for the fourth quarter and full year ended December 31, 2017. In 2017, the Company generated $88.7 million in revenue and $34.5 million of adjusted EBITDA.
Performance Highlights for the Year Ended December 31, 2017:
- Revenue of $88.7 million, as compared to $61.2 million for 2016
- Operating income of $29.9 million, as compared to $16.7 million for 2016
- Adjusted EBITDA of $34.5 million, as compared to $21.9 million for 2016
- Continued to invest in DeepIntent, an integrated data and programmatic buying platform acquired by the Company in 2017
Performance Highlights for the Fourth Quarter 2017:
- 12th consecutive positive adjusted EBITDA quarter since becoming a publicly-traded company in January 2015
- Revenue of $26.3 million, as compared to $16.6 million in the fourth quarter of 2016
- Operating income of $6.6 million, as compared to $6.3 million in the fourth quarter of 2016
- Adjusted EBITDA of $8.6 million, as compared to $7.0 million in the fourth quarter of 2016
“We set the bar high with aggressive goals for 2017 and I’m proud to report that the team exceeded expectations. It was terrific to see everyone work together in order to achieve such strong results,” said Marv Tseu, Chief Executive Officer of Propel Media.
“This year, we will continue to dedicate resources to grow our audience and invest in DeepIntent’s cutting edge software development and go-to-market strategy,” continued Tseu. “We believe that DeepIntent’s artificial intelligence-based platform will give it a meaningful competitive advantage by allowing it to deliver contextually relevant audiences in a brand safe environment to its advertisers.”
Further details concerning the results of operations for the year ended December 31, 2017 is set forth in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 29, 2018.
About Propel Media
Propel Media connects digital marketers with unique audiences through intent-based technology that delivers superior performance with measurable results. We ‘Do Digital Differently™’ with a distinctive approach to digital powered by proprietary contextualization technology and a unique supply of ad inventory. Headquartered in Irvine, California, Propel Media is distinguished by its ability to deliver consistent results and its commitment to providing the highest level of client services to its partners.
For more information, visit: www.propelmedia.com