Propel Media Reports Record Results for the 2nd Quarter and First Half of 2017
August 14, 2017
- Revenues increased 38% and Operating Income Increased 196% for the 2nd quarter of 2017 as compared to the 2nd quarter of 2016
- Adjusted EBITDA increased 94% to $17.1 million for the 1st half of 2017 as compared to $8.8 million for the 1st half of 2016
- Completed acquisition of DeepIntent, a leading artificial intelligence, programmatic buying platform
Irvine, California – August 14, 2017. Propel Media, Inc. (OTCPink:PROM), a performance focused digital media and advertising company, today announced its 2017 second quarter and first half results. The Company achieved revenue of $21.5 million, operating income of $8.9 million and adjusted EBITDA of $9.7 million in its 2017 second quarter.
For the three months ended June 30, 2017
- Revenue of $21.5 million as compared to $15.6 million in Q2 2016
- Operating income of $8.9 million as compared to $3.0 million in Q2 2016
- Net income of $3.4 million as compared to $0.1 million in Q2 2016
- Adjusted EBITDA of $9.7 million as compared to $5.6 million in Q2 2016
For the six months ended June 30, 2017
- Revenue of $40.1 million as compared to $30.9 million in the 1st half of 2016
- Operating income of $15.6 million as compared to $5.2 million in the 1st half of 2016
- Net income of $5.8 million as compared to a loss of $0.5 million in the 1st half of 2016
- Adjusted EBITDA of $17.1 million as compared to $8.8 million in the 1st half of 2016
Second Quarter Business Highlights:
- 10th consecutive positive adjusted EBITDA quarter since becoming a publicly-traded company
- 5th sequential quarter of increasing adjusted EBITDA
- Completed the acquisition of DeepIntent Technologies, a leading artificial intelligence, programmatic buying platform
- $2.1 million excess cash flow payment to lenders further reduced term loan
- Loan leverage ratio reduced to 2.07, as compared to 3.31 as of June 30, 2016
- Loan balances of $62.5 million as of June 30, 2017 on trailing 12-month adjusted EBITDA of $30.3 million
“We are very pleased to report that in the second quarter of 2017, Propel Media continued its outstanding revenue and adjusted EBITDA performance generating the highest quarterly adjusted EBITDA result since its debut as a public company in January 2015,” says Marv Tseu, Chief Executive Officer of Propel Media. “The Company continues to expand its presence in the online advertising market, and in the recent quarter, it completed the acquisition of DeepIntent, a state-of-the-art artificial intelligence, programmatic buying platform. DeepIntent works to guarantee that ads appear in only the most impactful, brand safe contexts and environments. We believe that DeepIntent will change the advertising landscape as brands continue to see consistent and outsized returns on their advertising investments by using the DeepIntent platform,” Tseu continued.
Further details concerning the results of operations for the three and six months ended June 30, 2017 is set forth in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 14, 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