Exhibit 99.1
Rubicon Project Reports Fourth Quarter 2018 Results
Fourth Quarter Revenue Grows 32% Year-over-Year
LOS ANGELES, California – February 27, 2019 – Rubicon Project (NYSE: RUBI), the global exchange for advertising, today reported its results of operations for the fourth quarter and full year 2018.
Recent Highlights
Revenue was $41.4 million for Q4 2018, up 32% from Q4 2017
Ad spend(1) grew 22% in Q4 2018 as compared to Q4 2017
Q1 2019 year over year revenue expected to grow approximately 25%
Take rate(2) increased to 13.8% in Q4 2018, up 150 basis points from 12.3% in Q3 2018
Mobile revenue grew 43% in Q4 2018 year over year and represented 55% of total revenue
Desktop revenue grew 21% in Q4 2018 year over year
Video revenue more than doubled in Q4 2018 year over year
Net loss(3) for Q4 2018 was $2.2 million, or loss per share(3) of $0.04, compared to net loss of $23.8 million, or loss per share of $0.48 for the fourth quarter of 2017.
Adjusted EBITDA(1) was a positive $9.9 million with an Adjusted EBITDA margin of 24%, compared to adjusted EBITDA loss of $6.2 million for the fourth quarter of 2017.
Non-GAAP earnings per share(1) was $0.03, compared to $0.28 non-GAAP loss per share for the fourth quarter of 2017.
Full year 2018 revenue was $124.7 million, a decrease of 20% from full year 2017 due primarily to reduction and ultimate elimination of buyer fees in late 2017
Full year 2018 ad spend grew 18% to $992.1 million with a 12.6% take rate, down from an 18.5% take rate in 2017

“We hit a number of significant financial milestones in the fourth quarter—we returned to strong year-over-year revenue growth, we were adjusted EBITDA positive with a margin of 24%, and most importantly, we were cash flow positive, excluding working capital swings, a year ahead of target,” said Michael G. Barrett, President and CEO of Rubicon Project. “Our strong revenue performance was based on solid market share gains as we meaningfully outpaced market growth in video, audio and mobile.”


The following information was filed by Rubicon Project, Inc. (RUBI) on Wednesday, February 27, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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