TUBEMOGUL (TUBE) saw its loss widen to $12.43 million, or $0.34 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $3.75 million, or $0.11 a share.
Revenue during the quarter grew 20.64 percent to $56.08 million from $46.48 million in the previous year period. Gross margin for the quarter contracted 132 basis points over the previous year period to 65.69 percent. Operating margin for the quarter stood at negative 19.81 percent as compared to a negative 6.41 percent for the previous year period.
Operating loss for the quarter was $11.11 million, compared with an operating loss of $2.98 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $0.25 million compared with $1.01 million in the prior year period. At the same time, adjusted EBITDA margin stood at negative 0.45 percent for the quarter compared to 2.17 percent in the last year period.
"We had a strong third quarter and are encouraged by the continued momentum we are seeing across the business," said Brett Wilson, chief executive officer of TubeMogul. "Our results exceeded the midpoint of our guidance across all key metrics, and we are particularly pleased with the improved operating leverage we demonstrated in the quarter. Programmatic TV spend nearly tripled year over year, while other cross screen channels such as social, display and mobile continued to see strong adoption."
For the fourth-quarter, TUBEMOGUL expects revenue to be in the range of $66 million to $68 million.
For financial year 2016, TUBEMOGUL expects revenue to be in the range of $220 million to $222 million.
Operating cash flow turns positiveTUBEMOGUL has generated cash of $2.90 million from operating activities during the nine month period as against cash outgo of $19.38 million in the last year period. The company has spent $9.76 million cash to meet investing activities during the nine month period as against cash outgo of $3.44 million in the last year period.
Cash flow from financing activities was $8.10 million for the nine month period, down 86.59 percent or $52.28 million, when compared with the last year period.
Cash and cash equivalents stood at $84.11 million as on Sep. 30, 2016, up 0.15 percent or $0.12 million from $83.99 million on Sep. 30, 2015.
Working capital declines
TUBEMOGUL has witnessed a decline in the working capital over the last year. It stood at $110.28 million as at Sep. 30, 2016, down 7.78 percent or $9.31 million from $119.59 million on Sep. 30, 2015. Current ratio was at 1.68 as on Sep. 30, 2016, down from 2.25 on Sep. 30, 2015.
Days sales outstanding went up to 247 days for the quarter compared with 243 days for the same period last year.
At the same time, days payable outstanding went up to 262 days for the quarter from 256 for the same period last year.
Debt increases substantiallyTUBEMOGUL has witnessed an increase in total debt over the last one year. It stood at $14.99 million as on Sep. 30, 2016, up 1,098.32 percent or $13.74 million from $1.25 million on Sep. 30, 2015. Long-term debt stood at $5.31 million as on Sep. 30, 2016. Total debt was 5.09 percent of total assets as on Sep. 30, 2016, compared with 0.56 percent on Sep. 30, 2015. Debt to equity ratio was at 0.12 as on Sep. 30, 2016, up from 0.01 as on Sep. 30, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
