22nd Mar 2021 09:22
(Alliance News) - Tremor International Ltd on Monday upped its annual guidance as it kicked off 2021 with improved trading during its traditionally weaker quarter.
Tremor shares were 12% higher at 681.12 pence each in London on Monday morning, valuing the video advertising technology firm at GBP910.6 million.
The company said its first quarter performance "is significantly ahead of the same period in 2020". The first quarter "historically is the lowest quarter by revenue in the year", Tel Aviv-based Tremor said.
Tremor expects net revenue between USD55 million and USD60 million in the first quarter, up as much as 87% from USD32.1 million a year earlier.
"This continued sustainable organic growth is a clear endorsement of Tremor's strategy, executed by the company's end-to-end technology platform together with strong demand inflow. Therefore, the company now expects trading for the year ending December 31, 2021 to be significantly ahead of management expectations."
First quarter adjusted earnings before interest, tax, depreciation and amortization are tipped to soar to between USD25 million and USD28 million, from USD500,000 a year earlier.
By Eric Cunha; [email protected]
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