Propel Media Reports $6.1 million of Adjusted EBITDA for the 3rd Quarter of 2016
November 14, 2016
IRVINE, Calif., Nov. 14, 2016 (GLOBE NEWSWIRE) — Propel Media, Inc. (OTCBB:PROM), an ad marketplace connecting digital marketers with unique audiences through real-time intent-based technology, today announced its 2016 third quarter results. The Company achieved revenue of $13.7 million, operating income of $5.2 million and adjusted EBITDA of $6.1 million in its 2016 third quarter, and revenue of $44.6 million, operating income of $10.4 million and adjusted EBITDA of $15.0 million in its first nine months of 2016.
Third Quarter Business Highlights:
- 7th consecutive adjusted EBITDA positive quarter since becoming a publicly-traded company
- Generated stable and strong financial performance in the 3rd quarter
- Achieved high levels of efficiency across all teams in the organization
“In the third quarter of 2016, the Company’s stable financial performance exceeded the strong results we achieved in the second quarter of this year,” said Marv Tseu, Chief Executive Officer of Propel Media. Tseu continued, “This performance was achieved as a result of excellent execution throughout the entire organization, including our sales, account management, technology development and media buying groups.”
Further details concerning the results of operations for the third quarter ended September 30, 2016 are set forth in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 14, 2016.
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. Founded in 2006 and 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