Revenue during the quarter dropped 15.39 percent to $45.55 million from $53.84 million in the previous year period. Gross margin for the quarter expanded 629 basis points over the previous year period to 52.69 percent. Total expenses were 93.62 percent of quarterly revenues, down from 96.57 percent for the same period last year. This has led to an improvement of 295 basis points in operating margin to 6.38 percent.

Operating income for the quarter was $2.91 million, compared with $1.85 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $8.82 million compared with $5.61 million in the prior year period. At the same time, adjusted EBITDA margin improved 895 basis points in the quarter to 19.37 percent from 10.42 percent in the last year period.

"We ended the year strong and executed well against our Q4 financial and strategic goals. Programmatic revenue for fourth quarter and full year beat our guidance. We delivered our healthiest gross margins ever and generated our highest adjusted EBITDA result in four years, all indicating the underlying health of the business," said Paul Porrini, chief executive officer. "The fourth quarter marked the best quarter for our programmatic business, bringing our full year revenue from programmatic to $21.2 million which gives us continued confidence in our strategy. Further we achieved this growth while significantly expanding profitability. We are very encouraged by these results and believe they set the stage for continued expansion and profitability in 2017."