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Aug. 10, 2015, 4:43 PM
- In addition to missing Q2 revenue estimates (while slightly beating on EPS), Millennial Media (NYSE:MM) is guiding for Q3 revenue of $63M-$66M (below an $84M consensus) and full-year revenue of $267M-$280M (below a $326.9M consensus and prior guidance of $311M-$342M).
- Full-year gross billings guidance (doesn't back out ad partner payments) has been cut to $344M-$360M from $435M-$459M. Q3 billings guidance is at $80M-$84M. Direct and indirect mobile ad competition from the likes of Google, Facebook, Twitter, and Apple has been a major headwind for some time.
- CEO Michael Barrett: "[R]evenue is ramping more slowly than we had hoped. We are evaluating strategic opportunities to maximize the value of our capabilities in this rapidly evolving ecosystem." TechCrunch reported in July AOL/Verizon is interested in acquiring Millennial.
- Financials: Gross margin rose 370 bps Y/Y to 43.9% (lifted EPS), and GAAP costs/expenses rose by $2.1M to $44.2M. Millennial ended Q2 with $34.6M in cash (down from $49.5M at the end of 2014), and $5M in short-term borrowings.
- Shares have tumbled to $1.45 in AH trading.
- Q2 results, PR
Aug. 10, 2015, 4:16 PM
- Millennial Media (NYSE:MM): Q2 EPS of -$0.05 beats by $0.01.
- Revenue of $65.8M (-2.2% Y/Y) misses by $4.11M.
Aug. 9, 2015, 5:35 PM| Aug. 9, 2015, 5:35 PM | 13 Comments
May 5, 2015, 6:41 PM
- Though it beat Q1 estimates, Millennial Media (NYSE:MM) is guiding for Q2 revenue of $68M-$71M, below a 3-analyst $73.9M consensus. However, full-year sales guidance of $311M-$342M - $275M-$290M Managed Media, $160M-$169M Platform - has been reiterated (consensus is at $322.7M).
- Q1 gross billings (doesn't back out developer payments) totaled $75.4M, beating guidance of $69M-$72M. Q2 billings guidance is at $86M-$89M, and full-year guidance is still at $435M-$459M.
- Millennial claims to have reached 670M monthly unique users at the end of Q1 (175M in the U.S.), up from 650M at the end of Q4. 65K apps supported Millennial's mobile ad platform, up 5K Q/Q. Anonymous user profiles (used for ad targeting) rose by 50M Q/Q to 750M+.
- Millennial's beaten-down shares have risen to $1.53 AH.
- Q1 results, PR
May 5, 2015, 4:09 PM
- Millennial Media (NYSE:MM): Q1 EPS of -$0.09 beats by $0.03.
- Revenue of $63.17M (-13.0% Y/Y) beats by $5.86M.
- Shares +3.47%.
May 4, 2015, 5:35 PM
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Mar. 9, 2015, 4:46 PM
- Millennial Media (NYSE:MM) expects Q1 revenue of $55M-$58M, below a sole analyst estimate of $66M. However, full-year revenue guidance of $311M-$342M is in-line with a $321.2M 2-analyst consensus, and going over well in light of Millennial's recent woes.
- Q1 and full-year billings guidance is respectively at $69M-$72M and $435M-$459M. Between them, Millennial and recently-acquired supply-side mobile ad platform Nexage had 2014 revenue of $302.5M and billings of $348.3M.
- Nexage, which Millennial finished acquiring on Dec. 4, had Q4 revenue of $3.6M and billings of $18.5M. Overall, Millennial reached 650M+ users globally (175M in the U.S.) at the end of Q4, and supported ~60K apps on its ad platform; both figures are flat Q/Q for the second straight quarter (previous).
- Gross margin was 38.3% vs. 37.8% in Q3 and 38.7% a year ago. Millennial/Nexage's combined pro forma operating expenses totaled $42.6M; Millennial's year-ago GAAP operating expenses totaled $41.2M.
- Adjusted EBITDA was -$1.8M. Millennial is guiding for Q1 adjusted EBITDA of -$14M to -$15M. Full-year adjusted EBITDA is simply expected to be "positive."
- Shares have risen to $1.72 AH.
- Q4 results, PR
Mar. 9, 2015, 4:11 PM
- Millennial Media (NYSE:MM): Q4 EPS of -$0.02 beats by $0.05.
- Revenue of $86.4M (-10.6% Y/Y) beats by $13.13M.
- Shares +6.9%.
Mar. 8, 2015, 5:35 PM
Nov. 7, 2014, 9:48 AM
- Though it beat Q3 estimates, Millennial Media (MM -1.2%) is guiding for Q4 revenue of $70M-$75M, well below an $88M consensus. But with shares down 77% YTD going into earnings, a lot of bad news had already been priced in.
- The company's mobile ad networks reached 650M+ users in Q3, and supported 60K apps and sites. Both figures are flat Q/Q for the second straight quarter.
- On an adjusted basis, gross margin fell 80 bps Y/Y to 37.8%. A $93.5M goodwill/asset impairment charge was taken during the quarter. Adjusted EBITDA was -$6.9M, and is expected to be in a range of -$5.5M to -$6.5M in Q4.
- Q3 results, PR
Nov. 6, 2014, 4:25 PM
- Millennial Media (NYSE:MM): Q3 EPS of -$0.07 beats by $0.07.
- Revenue of $69.81M (+24.5% Y/Y) beats by $2.26M.
Aug. 11, 2014, 4:36 PM
- In addition to missing Q2 revenue estimates (while beating on EPS), Millennial Media (NYSE:MM) is guiding for Q3 revenue of $65M-$70M, well below a $78M consensus. Adjusted EBITDA is expected to drop to -$7M to -$8M from Q2's -$6.1M.
- No explanation is given in the PR for the guidance. Millennial has been facing tough competition from Google, Apple, and Facebook's mobile ad offerings for some time.
- GAAP gross margin fell to 40.2% from 41.2% in Q1 and 42.4% a year ago. Adjusted for the Jumptap merger, opex fell 11% Y/Y to $34.8M.
- Millennial's mobile ad networks reached 650M+ monthly unique users in Q2, and supported 60K apps. Both figures are flat Q/Q.
- The company had $92.4M in cash at the end of Q2, down from $98M at the end of Q1.
- Q2 results, PR
Aug. 11, 2014, 4:07 PM
- Millennial Media (NYSE:MM): Q2 EPS of -$0.06 beats by $0.06.
- Revenue of $67.3M (+18.0% Y/Y) misses by $5.9M.
Aug. 10, 2014, 5:35 PM
May 7, 2014, 5:16 PM
- Millennial Media (MM) expects Q2 revenue of $70M-$75M, far below a $96.4M consensus. Adjusted EBITDA is expected to be in a range of -$5M- to -$6M (compares with -$4.7M in Q1).
- The company also states CFO Michael Avon is resigning to "pursue other career interests;" a search has begun for a replacement. Avon has been CFO since 2009.
- Millennial, which recently merged with rival Jumptap, has been struggling in an intensely competitive mobile ad market in which Google and Facebook are estimated to have a 60%+ combined share.
- Q1 results, PR
Millennial Media Inc is an independent mobile advertising platform company. It offers advertisers solutions to reach and connect with target audiences across screens from smartphones, tablets and other mobile devices to PCs.
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