Rubicon Project (RUBI) Tops Q4 EPS by 6c, Revenues Beat

Rubicon Project (NYSE: RUBI) reported Q4 EPS of $0.17, $0.06 better than the analyst estimate of $0.11. Revenue for the quarter came in at $48.5 million versus the consensus estimate of $47.83 million.

Recent Highlights

• Revenue was $48.5 million for Q4 2019, up 17% from Q4 2018
• We expect revenue for Q1 2020 to be between $37.0 to $38.0 million (for stand-alone Rubicon Project)
• Advertising spend (1) for 2019 totaled $1.12 billion versus $992 million in 2018
• Net income for Q4 2019 was $1.5 million, or income per share of $0.03, compared to net loss of $2.2 million, or loss per share of $0.04 for the fourth quarter of 2018
• Adjusted EBITDA(1) was $15.3 million representing a 32% Adjusted EBITDA margin(4), compared to Adjusted EBITDA of $9.9 million for the fourth quarter of 2018
• Non-GAAP income per share(1) was $0.17, compared to $0.03 non-GAAP earnings per share for the fourth quarter of 2018
• We generated $8.9 million of free cash flow in Q4 2019(2)
• We generated $5.7 million of free cash flow for full year 2019(2)
• Telaria merger on track to close in early April 2020

“We continued to deliver strong top and bottom line results in Q4, demonstrating our ability to create differentiation and grow share,” said Michael G. Barrett, President and CEO of Rubicon Project. “We also demonstrated the powerful financial leverage we have in our business with fourth quarter adjusted EBITDA margins of 32% and strong free cash flow. We\'re excited about the go-to-market opportunity ahead of us when we close the pending merger with Telaria to better serve sellers and fill buyer demand in the growing area of CTV and web video. On a combined basis, CTV and web video will approach half of our total revenue.”

For earnings history and earnings-related data on Rubicon Project (RUBI) click here.

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