Revenue Increased 89% Year-Over-Year; Revenue Less TAC* Increased 94% Year-Over-Year; Raises Full Year 2021 Outlook
AdTheorent Holding Company, LLC, a programmatic digital advertising leader using advanced machine learning technology and solutions to deliver real-world value for advertisers and marketers, today announced financial highlights for the second quarter ended June 30, 2021.
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Second Quarter 2021 Financial Highlights
- Revenue increased $18.8 million or 89% to $39.9 million, from $21.1 million in the second quarter 2020
- Revenue Less TAC* increased $12.9 million or 94% to $26.7 million, from $13.7 million in the second quarter 2020
- Net income increased by $3.2 million to $1.4 million, from negative $1.9 million in the second quarter 2020
- Adjusted EBITDA* grew by $10.5 million to $12.0 million, from $1.6 million in the second quarter 2020
Financial Outlook
As a result of the record first half 2021 revenue performance and positive business trends expected for the balance of the year, AdTheorent is raising its outlook for full-year 2021 revenue to at least $161.6 million, compared to its prior outlook for 2021 revenue of $157.7 million, and it is raising its outlook for full-year 2021 Revenue Less TAC* to at least $106.2 million, compared to its prior outlook for 2021 Revenue Less TAC* of $102.4 million.
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Jim Lawson, Chief Executive Officer of AdTheorent stated, “Our accelerated growth in the second quarter of 2021 demonstrates the power of AdTheorent Predictive Advertising and the measurable value we provide to advertisers seeking top campaign performance using privacy-forward targeting methods. We have never been more optimistic about the business and our growing market opportunity, and we are confident we can drive long-term durable growth and redefine how digital ads are targeted. As a result, we are raising our 2021 outlook to 34.5% growth in Revenue Less TAC* versus 29.7% previously.”
*Non-GAAP measure; complete definitions of AdTheorent’s non-GAAP measures are provided herein under “Non-GAAP Financial Measures.”
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