YuMe, Inc. (YUME) Misses Q1 EPS by 1c, CFO to Step Down

YuMe, Inc. (NYSE: YUME) reported Q1 EPS of ($0.16), $0.01 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $37.3 million versus the consensus estimate of $35.36 million.

YuMe, Inc. sees FY2014 revenue of $190-200 million, versus the consensus of $194.07 million.

CFO Transition:

YuMe also announced today that Timothy Laehy will step down from his role as chief financial officer, effective May 23. Mr. Laehy has served as YuMe’s CFO for over three years, during which time he built a strong finance organization and helped lead the Company through its IPO.

Mr. Laehy will be succeeded on an interim basis by Tony Carvalho, currently YuMe’s Vice President of Finance. Mr. Carvalho joined YuMe in March 2013 and has held finance leadership positions at a number of technology companies, including Chief Financial Officer at Xoom Corporation, Vice President of Finance/Corporate Controller at PayPal, and Vice President of Finance at ServiceSource. Mr. Carvalho is a certified public accountant and holds a Bachelor’s degree from the University of Mumbai.

“Tim was instrumental in preparing YuMe to become a publicly-traded company, and I appreciate his efforts over the last three years,” said Mr. Kadambi, Chief Executive Officer of YuMe. “Tim put together an experienced finance team to support YuMe’s future growth, and we wish him continued success. I am confident that Tony will succeed in leading the finance team during the CFO search process.”

“After building YuMe’s finance team and leading the Company through its IPO process, the time is right for me to return to my passion and pursue an early-stage growth company opportunity,” Mr. Laehy said. “YuMe has a strong finance team, and I am confident they will continue to perform at a high level to support YuMe’s growth opportunities going forward.”

For earnings history and earnings-related data on YuMe, Inc. (YUME) click here.

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