- Along with news of leadership changes (including the CEO), a restructuring plan and hunt for strategic alternatives, third-quarter earnings for YuMe (NYSE:YUME -5%) featured a miss on top and bottom lines.
- Revenue fell 10% to $35M, though it got more concentrated: Sales from the company's top 20 advertising customers rose 7% to $15.8M. Net loss narrowed to $4.5M vs. a year-ago loss of $6.5M.
- Mobile and connected TV impressions made up 43% of revenue (up from the prior year's 32%). Gross margin rose to 48.4% from 44.8%.
- Given cost cuts, YuMe says, the company's now providing only EBITDA guidance; for Q4, it sees EBITDA at $3M-$6M (vs. $5.6M consensus), including the impact of $2M expected cost savings, but excluding the impact of a planned $1.5M charge.
- Press Release