Fyber N.V. published results for Q3 2020
94% YoY revenue growth in Q3 2020, driven by video advertising
Forecasting similar YoY revenue growth in Q4 2020
Key Facts Q3 2020
- 94% year-over-year (‘YoY’) revenue growth in Q3 2020, 46% YoY revenue growth in 9M 2020
- Driven by 600% YoY revenue growth from programmatic video advertising in 9M 2020
- Delivered positive adjusted EBITDA in Q3 2020 and 9M 2020
- Guidance for 2020: €185 million to €195 million revenue and positive adjusted EBITDA
- Guidance for 2021: revenue above €250 million
Berlin, 25 November 2020 – Fyber N.V. (“Fyber” or the “Company”, FSE:FBEN), a leading mobile advertising technology company, today published its financial results for the first nine months of 2020.
The overall revenue for the first nine months of 2020 increased by 46% to €121 million (9M 2019: €83 million). Fyber’s programmatic business saw 70% YoY revenue growth to €91 million (9M 2019: €53 million), making up 75% of the overall revenue. Of that, programmatic video increased by more than 600% to €35 million, representing almost 30% of the advertising budgets spent on Fyber’s inventory. Fyber’s non-programmatic business remained stable and added to the overall growth trend with a 8% YoY growth of Offer Wall Edge.
The gross profit amounted to €16.2 million in 9M 2020, up 16% compared to the same period last year. The recovery in margin during Q3 2020, paired with the continuous growth and the Company’s close cost management, enabled reaching a positive adjusted EBITDA of €1.8 million in Q3 2020.
Fyber exceeded initial expectations despite the economic slowdown caused by COVID-19, which led to a decrease in available brand advertising in Q2 2020. The previous guidance was upgraded in October to an expected revenue of €185 to €195 million, representing a YoY growth of at least 55%, at a positive adjusted EBITDA for the full year 2020. For 2021, the Company forecasts above 30% YoY growth, resulting in revenue of more than €250 million.
Ziv Elul, CEO of Fyber, commented: “The exceptional performance achieved with our video offering was made possible by the close collaboration of our product, engineering and sales teams, who drove the successful rollout of multiple technological improvements while also onboarding, scaling and optimizing key demand sources. We will continue to focus our efforts in this direction and expect further growth in the share of revenue from video advertising.”
The complete interim statement is available on the Fyber website under: https://investors.fyber.com/reports-presentations
Fyber is a global technology company, developing a next-generation monetization platform for mobile app publishers. Fyber combines proprietary technologies and expertise in mediation, programmatic, and video to create holistic solutions that shape the future of the app economy. Fyber has seven global offices in Berlin, Tel Aviv, San Francisco, New York, London, Seoul and Beijing. It is publicly traded on the Frankfurt Stock Exchange under the symbol FBEN. To learn more, visit www.fyber.com.
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