Total revenue for 2013 increased 41.6% from $241.3 million in 2012 to $341.8 million last year. Despite a strong end to the year, however, the company also warned investors to expect some “turbulence” in following quarters.
The company notably reported a loss of $3.7 million, or 4 cents a share, for Q4, compared with a prior year profit of $2.6 million, or 3 cents a share. Millennial provided a lowered outlook for Q1, with revenue forecasts ranging between $72 million and $76 million, which it attributed to reduced spending from brand advertisers and other seasonal factors.
Newly appointed CEO Michael Barrett said the company is betting big on programmatic buying, an increasingly prominent part of Millennial’s offerings. “The rise of programmatic buying is happening at a fast pace in the mobile ad industry and the company sits in a premium position to bring that demand to its platform,” he said during the earnings call. (more…)