Exhibit 99.1
Rubicon Project Reports First Quarter 2018 Results
LOS ANGELES, California – May 3, 2018 – Rubicon Project (NYSE: RUBI), the global exchange for advertising, today reported its results of operations for the first quarter of 2018.
Recent Highlights
Revenue was $24.9 million for Q1 2018, exceeding the $23 million or above estimate provided on our last call.
Ad spend increased 10% to $211 million in Q1 2018 versus Q1 2017, exceeding the estimate of $205 million or above provided on our last call.
Take rate was 11.8% in Q1 2018 and is expected to be at or above this rate for Q2 2018.
Programmatic video and audio are significant year over year growth drivers for ad spend and revenue in the quarter, led by strength from some of the industry's largest publishers.
Q2 2018 Revenue and ad spend expected to grow sequentially.
Net loss(2) was $27.8 million, or loss per share(2) of $0.56, compared to net loss of $15.8 million, or loss per share of $0.33 for the first quarter of 2017.
Adjusted EBITDA(1) was a negative $14.2 million, compared to adjusted EBITDA of $1.1 million for the first quarter of 2017.
Non-GAAP loss per share(1) was $0.44, compared to $0.16 non-GAAP loss per share for the first quarter of 2017.

“We are encouraged to see continued positive growth trends in year-over-year ad spend, a positive sign of share gains in header bidding, and expansion of our leadership position in the exciting new growth areas of programmatic video and audio,” said Michael G. Barrett, President and CEO of Rubicon Project. “We are performing very well in the early stages of supplier consolidation with our buyer partners, while continuing to deliver increasing revenue to our publishers. Top line growth, combined with the cost actions we took in the first quarter, have us on track to be adjusted EBITDA positive in the fourth quarter of this year.”

First Quarter 2018 Results Summary
(in millions, except per share amounts and percentages)
Three Months Ended
March 31, 2018
March 31, 2017
Favorable/ (Unfavorable)
Advertising spend(1)
Non-GAAP net revenue(1)
Take rate(3)
(12 ppt)
Net loss
Adjusted EBITDA(1)
Adjusted EBITDA margin(2)
(59 ppt)
Basic and diluted loss per share
Non-GAAP net loss per share(1)


The following information was filed by Rubicon Project, Inc. (RUBI) on Thursday, May 3, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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