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
Oct. 7, 2014, 2:51 PM
- The NYT reports Facebook (FB -0.8%) is "working on a stand-alone mobile application that allows users to interact inside of it without having to use their real names," and plans to release it "in the coming weeks."
- The app's reported goal is to allow users to "use multiple pseudonyms to openly discuss the different things they talk about on the Internet; topics of discussion which they may not be comfortable connecting to their real names." It's unknown if the app will interact with Facebook's core site and apps, or whether it will support anonymous photo-sharing.
- At its spring f8 conference, Facebook introduced anonymous login support for 3rd-party apps. However, Zuck and other Facebook execs have defended requiring users of the company's core services to rely on their real-world identities.
- Facebook's real-identity requirement is "part of what made Facebook special in the first place," product chief Chris Cox recently asserted. However, the role pseudonym support has played in fueling the growth of Twitter, Instagram, Snapchat, and other platforms undoubtedly isn't lost on Facebook.
- Five months after launching, Facebook's mobile ad network (relies on Facebook data to deliver targeted ads on other sites/apps), has been opened up to all developers. Banner, interstitial, and native ads are supported. Millennial Media (MM -5.7%), among the companies in Facebook's crosshairs, is having a bad day.
- The Information reports major Web publishers such as Yahoo, Twitter, and Pinterest have balked at supporting Facebook's newly-launched Atlas ad-serving/measurement platform, due to wariness about sharing data with a perceived rival. Atlas, along with the mobile ad network and LiveRail, is pivotal to Facebook's efforts to challenge Google's display ad hegemony.
- Update: SA author Charles Moscoe argues Facebook's reported Atlas challenges highlight the value of Sizmek's (NASDAQ:SZMK) independent ad campaign management platform.
Oct. 1, 2014, 12:21 PM
- Jason Kelly, most recently the CEO of e-commerce ad sales firm Sociomatic, has been named the president of Millennial (NYSE:MM) Managed Media business. That puts him in charge of the struggling mobile ad network owner's "global brand and performance sales teams."
- Kelly has also held senior sales roles at Time, Virgin America, and Google-acquired Admeld. His hiring follows the departure of sales EVP Mollie Spilman to Criteo, and comes on the heels of Millennial's deal to purchase programmatic mobile ad tech provider Nexage.
Sep. 24, 2014, 5:35 PM
Sep. 23, 2014, 12:45 PM
Sep. 23, 2014, 7:23 AM
- Boston-based Nexage is a provider of Real-Time Bidding (RTB) technology which helps to automate the buying and selling of mobile advertising.
- The purchase would boost Millennial Media's (NYSE:MM) platform business in three areas, says the company: Increasing yield for publishers via expertise and scale, allowing advertisers to buy impressions programmatically, enable data and audience buying.
- Terms: MM will pay about $22.5M in cash and $85M in stock, or about 37M shares based on a price of $2.21 (MM closed at $1.77 yesterday). It would leave Nexage shareholders with a 26% stake in Millennial.
- A conference call is set for 8 ET.
- Source: Press Release
Sep. 2, 2014, 5:50 PM
- Andrew Jeanneret, Millennial Media's (NYSE:MM) accounting chief since 2011, is the company's new CFO. Before working at Millennial, Jeanneret was the CFO of the Dialysis Corporation of America.
- Millennial's last permanent CFO, Michael Avon, recently left to "pursue other career interests." Since then, sales EVP Mollie Spilman has departed for Criteo.
Aug. 25, 2014, 5:08 PM
- Criteo (NASDAQ:CRTO) has hired Mollie Spilman, formerly Millennial Media's (NYSE:MM) EVP of global sales and operations, to be its chief revenue officer (i.e. its sales chief).
- Spilman will report to COO Eric Eichmann, who was just recently appointed president. Before working at Millennial, Spilman was Yahoo's CMO.
- Millennial, which has been struggling to deal with tough mobile display ad competition, saw CFO Michael Avon depart a few months ago.
Aug. 12, 2014, 12:45 PM
Aug. 11, 2014, 5:38 PM
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| Comment!
Aug. 10, 2014, 5:35 PM
Aug. 8, 2014, 5:40 PM
Jul. 30, 2014, 12:10 PM
- In addition to soundly beating Q2 estimates, Rubicon Project (NYSE:RUBI) has guided for Q3 revenue of $28.5M-$29.5M and EPS of -$0.20 to -$0.17, mostly above a consensus of $26.5M and -$0.17. Full-year guidance is for revenue of $117M-$119M and EPS of -$0.34 to -$0.41, above a consensus of $112.7M and -$0.53.
- The online ad network benefited from a 150 bps Y/Y increase in its take rate on gross ad sales to 18.4%. It also got a lift from a 75% increase in gross sales stemming from real-time bidding (RTB - automated ad purchases tied to online activity). Sales/marketing and G&A spending growth led GAAP opex to rise 72% to $35.4M.
- Rubicon mentioned on its CC (transcript) it has landed a deal with Comcast to power a private ad-buying exchange for the cable giant's Xfinity sites. Ziff-Davis, PBS, and Move were also added as clients.
- RTB platform owner/Rubicon client Rocket Fuel (FUEL +4.7%) is also rallying, as is mobile ad network owner Millennial Media (MM +2.9%). Millennial might also be getting a boost from Twitter's strong Q2 report; the microblogging platform gets 81% of its ad revenue from mobile, and continues to see rapid growth for its MoPub mobile ad exchange (integrates with Millennial's network).
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Millennial Media Incis 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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