Rentrak Rise Continues, Led by TV Everywhere

Audience measurement's rising star Rentrak Corporation has announced fiscal second quarter results. Total revenue is up 41% to $25.2m, driven by the continuing boom in its TV Everywhere business which grew 85% to $13.3m.

Revenues from the firm's Movies Everywhere service grew 16% to $7.4m, while its OnDemand Everywhere and other services were flat.

Overall operating expenses for the quarter, which ended on September 30th, rose more slowly than revenue - up $4.1m to $17.6m, with increases in headcount and stock-based compensation the main causes. As a result gross margin improved to 68% of revenue from 62% a year previously.

Reported operating loss was reduced to $416,000, with stock-based compensation and acquisition costs keeping the figure in the red - excluding these, the company turned a loss of $293,000 into income of $2.5m. Adjusted EBITDA, generally a good measure of underlying profitability, grew substantially from $1.2m the year before to $4.3m in this quarter.

Vice Chairman and CEO Bill Livek said the second quarter was 'solid', with total revenue growth accelerating, and pointed to the recent deal with Kantar and GroupM and the expansion of the firm's relationship with Fox which he said give the company 'strong momentum'

The firm continues to predict 80 percent annual growth in TV Everywhere, through fiscal 201; and now says it expects 15% annual growth in Movies Everywhere for the foreseeable future, up from 12% forecast previously. It also expects 20% annual growth in OnDemand Everywhere.

Web site: www.rentrak.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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