DGAP-News: Fyber N.V.
/ Key word(s): Quarterly / Interim Statement/Quarter Results
Fyber N.V. publishes Q1 2021 financial statements
Berlin, 31 May 2021 - Fyber N.V. ("Fyber" or the "Company", FSE:FBEN), a leading app monetization company, today published its financial results for the first quarter of 2021. The Company achieved a revenue of €85.6 million (Q1 2020: €30.7 million) - a plus of 179% - at a positive adjusted EBITDA of €7.4 million (Q1 2020: €-0.8 million).
The revenue from video advertising increased by more than 900% in Q1 2021 to €41 million compared to the same period last year and now accounts for 48% of Fyber's overall business. The positive development was enabled by specific product and sales initiatives, integrating with the leading demand sources and expanding the Company's business with existing partners. Fyber's Rewarded Video offering is one of the factors enabling the rapid growth, which developed to be the fastest growing ad format in the stack.
While the Company's revenue growth is driven by video advertising, Fyber maintained a balanced approach of leading with technology, investing into sustainable growth and a comprehensive publisher monetization solution. This is evidenced by the fact that the revenue from programmatic display advertising also contributed to the expansion, growing 125% year-over-year in the first quarter of 2021. Further, a significant part of the revenue was generated by new clients. The Company built up a strong pipeline for 2021 and onboarded more than 70 new publishers in the first quarter alone.
Following the recent debt-to-equity conversion of large parts of the Fyber's convertible bonds facility, the Company repaid all outstanding bonds in an early redemption process. With that, the Company completed the full amortization of bonds. On 25 May 2021, Digital Turbine (NASDAQ: APPS) announced it obtained control over Fyber pursuant to Section 35 (1) WpÜG and that it will publish a mandatory offer to all outstanding shareholders of Fyber in due course.
The current growth trajectory and positive market outlook underline the Company's increased guidance for the full year 2021, expecting to deliver a revenue between €300 million and €350 million - a plus of at least 43% compared to 2020 - at a net revenue between €60 million and €70 million and an adjusted EBITDA between €15 million and €20 million.
Ziv Elul, CEO of Fyber, commented: "This past quarter marked the strongest start to a year for Fyber to date. Not only did we maintain the positive momentum of Q4 2020 and delivered 179% year-over-year revenue growth. The Company also achieved more than €7 million in adjusted EBITDA profit, significantly increased the growth and profitability outlook for the full year 2021 and fully repaid all outstanding convertible bonds. The growth, EBITDA profit and enhanced financial position are proof points of the successful completion of the Company's turn-around. We are very excited about entering the next growth phase for Fyber together with Digital Turbine. "
31.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Tradegate Exchange|
|EQS News ID:||1202812|
|End of News||DGAP News Service|