Tremor International trades 'significantly ahead' of prior year in Q1
By Iain Gilbert
Date: Monday 22 Mar 2021
(Sharecast News) - Video advertising technology firm Tremor International said on Monday that its first-quarter trading performance, historically the lowest quarter by revenue in the year, was "significantly ahead" of the same period in 2020.
Tremor said its "continued sustainable organic growth" was "a clear endorsement" of its strategy, executed by the firm's end-to-end technology platform together with strong demand inflow.
As a result of the strong first quarter, the AIM-listed group now expects full-year trading to be "significantly ahead of management expectations", with net revenues of $55.0m-60.0m, an increase of 71%-87% year-on-year and adjusted underlying earnings of $25.0m-28.0m.
Programmatic net revenues were also pegged to grow by 84%-95% in the quarter.
"This positive momentum continues to be underpinned by the successful execution of the company's strategy, which focuses on video and data, with Tremor's core solutions of Connected TV, Private Marketplaces and its self-serve platform continuing to achieve significant traction," said Tremor.
As of 1040 GMT,Tremor shares had surged 16.17% to 704.0p.
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