Propel Media Reports $22.2 Million in Sales and $8.7 Million of Adjusted EBITDA for the 3rd Quarter of 2017
November 13, 2017
3rd Quarter of 2017 Adjusted EBITDA up 42% Compared to 3rd Quarter of 2016
Company Trailing 12 Month Adjusted EBITDA of $32.9 Million
IRVINE, Calif., Nov. 13, 2017 (GLOBE NEWSWIRE) — Propel Media, Inc. (OTCPink:PROM), a performance focused digital media and advertising company, today announced its results for the 3rd quarter and first nine months of 2017. The Company achieved $22.2 million in revenue and an adjusted EBITDA of $8.7 million in the 3rd quarter of 2017.
For the Three Months Ended September 30, 2017:
- Revenue of $22.2 million as compared to $13.7 million in the 3rd quarter of 2016
- Operating income of $7.6 million as compared to $5.2 million in the 3rd quarter of 2016
- Net income of $3.0 million as compared to net loss of $0.1 million in the 3rd quarter of 2016
- Adjusted EBITDA of $8.7 million as compared to $6.1 million in the 3rd quarter of 2016
For the Nine Months Ended September 30, 2017:
- Revenue of $62.4 million as compared to $44.6 million in the first nine months of 2016
- Operating income of $23.3 million as compared to $10.4 million in the first nine months of 2016
- Net income of $8.8 million as compared to net loss of $0.7 million in the first nine months of 2016
- Adjusted EBITDA of $25.9 million as compared to $15.0 million in the first nine months of 2016
3rd Quarter Business Highlights:
- 11th consecutive positive Adjusted EBITDA quarter since becoming a publicly-traded company in January 2015
- Adjusted EBITDA of $32.9 million for the 12 months ending September 30, 2017
- Increased media buying efforts to expand the Company’s owned and operated member-based network
- Continued to invest in DeepIntent, the Company’s newly acquired integrated data and programmatic buying platform
“Propel Media strategically focused on expanding its owned and operated member-based network through increased media buying expenditures in the third quarter,” said Marv Tseu, Chief Executive Officer of Propel Media. “We also invested in DeepIntent’s software development and sales teams. We expect to continue to devote resources in the 4th quarter to grow our audience and to invest in DeepIntent,” continued Tseu.
Further details concerning the results of operations for the three and nine months ended September 30, 2017 is set forth in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 13, 2017.
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