EXHIBIT 99.1

 

 

YuMe Reports First Quarter 2017 Financial Results

 

Reports Record First Quarter Net Income of $1.2 Million and Adjusted EBITDA of $4.3 Million

 

Reports Quarterly Programmatic Revenue Growth of 90% Year over Year

 

Continues Evaluation of Strategic Alternatives

 

Redwood City, Calif. May 9, 2017 – YuMe, Inc. (NYSE: YUME), a

proven partner for video advertising leadership and innovation, today announced its financial results for the first quarter ended March 31, 2017.

 

We are pleased to report strong first quarter results that demonstrate the underlying health of the business. We achieved positive Net Income and Adjusted EBITDA, an unprecedented achievement for YuMe in the seasonally slow first quarter. These results benefitted from strength in our programmatic business combined with our continued focus on operational efficiency,” said Paul Porrini, Chief Executive Officer, We are executing well against our financial and strategic goals and are building momentum that we expect will continue throughout 2017.”

 

Financial highlights for first quarter 2017:

Revenue of $36.5 million, compared to $39.2 million in the first quarter of 2016 (Q1 2016);

 

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Revenue from top 20 advertising customers of $20.3 million;

 

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Mobile, tablet and connected television impressions accounted for 57% of revenue;

 

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Programmatic revenue1 was $9.4 million;

Gross margin of 52.3%, compared to 47.8% in Q1 2016;

Net income of $1.2 million, or $0.03 per diluted share, compared to net loss of $3.6 million, or $0.10 per diluted share, in Q1 2016;

Adjusted EBITDA2 of $4.3 million, compared to adjusted EBITDA of $0.5 million in Q1 2016;

$68.5 million in cash, cash equivalents and marketable securities and no debt as of March 31, 2017.

 

Share Repurchase Plan

Since announcing the $10 million share repurchase program on February 18, 2016 through the expiration of the underlying trading plan in Q1 2017, the Company acquired approximately 2.3 million shares of its common stock for $8.2 million, at an average price per share of $3.64.

 

Strategic Alternatives Update

YuMe continues to work with Deutsche Bank as its financial advisor to assist in evaluating the Company’s value-enhancing initiatives. The Company will provide an update to this process when it determines that further disclosures are appropriate.

 

 


The following information was filed by Yume Inc (YUME) on Tuesday, May 9, 2017 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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