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|Millennial Media Reports 2013 Second Quarter Results|
Financial Results and Business Highlights for the Second Quarter of 2013
Revenue: For the second quarter of 2013, revenue increased to $57 million from $39.4 million for the second quarter of 2012, a year over year increase of 45%.
Gross Margin: For the second quarter of 2013, gross margin improved to 42.4% from gross margin of 39.7% for the second quarter of 2012.
Net Income (Loss): For the second quarter of 2013, net income (loss), on a GAAP basis, was $(3.1) million, compared to net income (loss) of $(2.2) million for the second quarter of 2012.
Adjusted EBITDA: For the second quarter of 2013, adjusted EBITDA, a non-GAAP financial measure, was $1.9 million compared to adjusted EBITDA (loss) of $(731) thousand for the second quarter of 2012.
Net Income (Loss) Per Share Attributable to Common Stockholders: For the second quarter of 2013, on a GAAP basis, basic and diluted net income (loss) per share attributable to common stockholders was $(0.04), compared to basic and diluted net income (loss) per share attributable to common stockholders of $(0.03) for the second quarter of 2012.
Non-GAAP Net Income (Loss) Per Common Share: For the second quarter of 2013, non-GAAP net income (loss) per common share basic and diluted was $0.02, compared to non-GAAP net income (loss) per common share basic and diluted of $(0.01) for the second quarter of 2012.
Other Business Metrics: As of June 30, 2013, Millennial
Media reached over 450 million monthly unique users globally, including
approximately 160 million monthly unique users in the
“We had a solid growth quarter in 2Q with good showing in international and brand advertising,” said Paul Palmieri, Millennial Media’s President and CEO. “We had strong margins during the quarter with increased platform usage by some of the largest brand advertisers in the world. We are also very pleased to announce our acquisition of Jumptap and look forward to bringing our integrated capabilities to the global mobile advertising market.”
Non-GAAP Financial Measures
To supplement its consolidated financial statements, which are prepared
and presented in accordance with U.S. generally accepted accounting
Second Quarter 2013 Financial Results Conference Call:
The statements in this press release that are not historical facts
constitute “forward-looking statements” that involve risks and
uncertainties and are made pursuant to the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include
expectations regarding financial results for the third quarter and full
year of 2013. The achievement or success of the matters covered by such
forward-looking statements involve risks, uncertainties and assumptions,
and if any such risks or uncertainties materialize or if any of the
assumptions prove incorrect, our results could differ materially from
the results expressed or implied by the forward-looking statements we
make. These risks and uncertainties include, but are not limited to,
risks associated with our ability to expand our developer and advertiser
base, keep pace with technological and market developments and remain
competitive against larger companies in our industry as well as
potential new entrants into our markets. Further information on these
and other factors that could affect our results is included in our
Quarterly Report on Form 10-Q that will be filed for the quarter ended
The statements made in this release are based on information available to us as of the date of this release, and we assume no obligation and do not intend to update these forward-looking statements, except as required by law.
Additional Information about the Proposed Acquisition and Where You Can Find It
Millennial plans to file a proxy statement with the
The proxy statement and other relevant materials, and any other
documents filed by Millennial with the
Interests of Certain Participants in the Solicitation
Millennial and its executive officers and directors may be deemed to be
participants in the solicitation of proxies from the stockholders of
Millennial in favor of the proposed transaction. A list of the names of
Millennial’s executive officers and directors, and a description of
their respective interests in Millennial, are set forth in the proxy
statement for Millennial’s 2013 Annual Meeting of Stockholders, which
was filed with the
If and to the extent that executive officers or directors of Millennial will receive any additional benefits in connection with the proposed transaction that are unknown as of the date of this filing, the details of such benefits will be described in the proxy statement and security holders may obtain additional information regarding the interests of Millennial’s executive officers and directors in the proposed transaction by reading the proxy statement when it becomes available.