Propel Media Reports Increased Adjusted EBITDA for the 2nd Quarter of 2016
August 15, 2016
For the Three Months Ended June 31, 2016
- Revenue of $15.6 million
- Operating income of $3 million
- Adjusted EBITDA of $5.6 million
For the Six Months Ended June 31, 2016
- Revenue of $30.9 million
- Operating income of $5.2 million
- Adjusted EBITDA of $8.8 million
IRVINE, Calif., Aug. 15, 2016 /PRNewswire/ — Propel Media, Inc. (OTCBB: PROM), a performance focused digital media company bringing together online video, display and mobile advertising technology and solutions to advertisers, app developers and publishers, today announced 2016 second quarter results. The Company achieved revenue of $15.6 million and adjusted EBITDA of $5.6 million in its 2016 second quarter, and revenue of $30.9 million and adjusted EBITDA of $8.8 million in its first half year of 2016.
Second Quarter Business Highlights
- 6th consecutive adjusted EBITDA positive quarter since becoming a publicly-traded company.
- Implementation of strategic long-term cost reduction and operational restructuring actions.
- Continued progress in shifting our mix of revenues from third party application partners to our owned and operated network.
“In the second quarter of 2016, we continued our strategy to increase the percentage of our total revenues that come from our more profitable owned and operated user base.” said Marv Tseu, Chief Executive Officer of Propel Media.
Further details concerning the results of operations for the second quarter ended June 30, 2016 is set forth in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 12, 2016.
About Propel Media
Propel Media is a performance focused digital media company bringing together online video, display and mobile advertising technology and solutions to advertisers, app developers and publishers. Headquartered in Irvine, California, our mission is to provide exceptional performance for our partners.
For more information visit: www.propelmedia.com