Fyber N.V. publishes Annual Report 2020 & preliminary numbers for Q1 2021
76% revenue growth in 2020 year-over-year and 179% in Q1 2021
Updated guidance: Expecting at least 50% revenue growth to above €300 million in 2021
- 76% revenue growth in 2020 to €210 million
- 111% year-over-year growth in the programmatic business
- Programmatic video accounts for 34% of business & grew more than 800% in 2020
- Full-year positive adjusted EBITDA of €5.6 million
- Preliminary results for Q1 2021: €86 million revenue (+179% compared to Q1 2020), €7 million adjusted EBITDA (compared to €-0.8 million in Q1 2020)
- Updated guidance 2021: Expecting revenue between €300 million and €350 million, at an adjusted EBITDA between €15 million and €20 million
- Digital Turbine to acquire full ownership in Fyber for $600 million, creating a new mobile media powerhouse offering the largest, independent growth platform for app publishers, performance marketers and top global brands
Berlin, 30 April 2021 – Fyber N.V. (“Fyber” or the “Company”, FSE:FBEN), a leading app monetization company, today published its financial results for the full year 2020. The Company achieved a revenue of €209.8 million (FY 2019: €119.0 million) at a positive adjusted EBITDA of €5.6 million (FY 2019: €-2.7 million).
The Company accelerated its month-over-month growth throughout the last quarter and reported positive and growing adjusted EBITDA each month since July 2020. The results for Q4 2020 alone amounted to €89 million in revenue, an increase of 145% compared to Q4 2019, and a positive adjusted EBITDA of €6 million – the strongest Q4 in company history. 40% of the Q4 revenue was generated by video advertising formats.
Strong performance in video advertising paved the way to profitability
In 2020, Fyber’s revenue from programmatic advertising increased by more than 111% year-over-year to €170 million. Of that, programmatic video ads made up 42%, amounting to €71 million – an increase of more than 850% compared to 2019.
Upgraded guidance for the full year 2021
Initial preliminary results for Q1 2021 show an acceleration of the recent growth trend, with the revenue amounting to €85.6 million at an adjusted EBITDA of €7.4 million (Q1 2020: revenue of €30.7 million, adjusted EBITDA of €-0.8 million).
Based on this strong start to the year and a positive outlook for the rest of the year, Fyber expects to continue its double-digit revenue growth trend. The guidance for the full year 2021 was therefore increased in April 2021, to revenue between €300 million and €350 million, with the net revenue of between €60 million and €70 million, at an adjusted EBITDA between €15 million and €20 million (previous guidance: revenue between €275 million and €300 million, net revenue between €55 million and €60 million, adjusted EBITDA of €10 million).
Fyber to be acquired by NASDAQ-listed Digital Turbine at $600 million valuation
In March 2021, US-based Digital Turbine, a global on-device mobile platform company, signed a definitive agreement to acquire full ownership in Fyber for $600 million. Digital Turbine is a leader and disruptor in the mobile ad tech space through a delivery platform that makes it easier than ever for people to frictionlessly discover new apps, for operators and equipment manufacturers to build new revenue streams, and for advertisers to reach users at scale.
The deal between Fyber’s major shareholder and Digital Turbine is expected to close by the end of May and will be followed by the necessary steps to acquire 100% of shareholdings in Fyber.
Ziv Elul, CEO of Fyber, comments: “2020 was a great year for Fyber, delivering 76% revenue growth, more than 850% growth in programmatic video advertising and €6 million in adjusted EBITDA. Despite Q1 often being a slower quarter in advertising, Fyber continued its strong development and delivered preliminary results 50% above the initial planning for Q1 2021. We are thrilled to top off this amazing growth journey by joining the Digital Turbine family – together forming the most comprehensive and fastest-growing, independent mobile growth platform on the market. This is the next major step in Fyber’s growth story, which completes the Company’s turn-around on this incredible high note.”
*Note: Adjusted EBITDA excluding one-off impacts, not a measure calculated in accordance with IFRS
Fyber is a leading advertising technology company, developing a next generation platform for the programmatic trading of ads, in a data-driven environment. Our mission is to fuel the creation of quality content by empowering app developers to unlock the true value of their advertising properties through advanced technologies, innovative ad formats and data-driven decision-making. Fyber’s technology platform provides an open-access platform for both digital advertisers and publishers with a global reach. Fyber has offices in Berlin, Tel Aviv, New York, San Francisco, London, Beijing and Seoul. The Company employs more than 250 people globally and is listed on the Prime Standard of the Frankfurt Stock Exchange under the symbol ‘FBEN’. For additional information visit www.fyber.com.
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