Rentrak Reports 'Great Quarter' with Revenue Up 30%

Multi-screen audience measurement specialist Rentrak has reported a 30% rise in second quarter revenue to $32.8m. The result was driven by a 53% increase for the TV Everywhere product line, up from $13.3m to $20.4m in the prior year period.

The firm, which is currently in the process of being acquired by comScore, saw second fiscal quarter net income at $1.3m, compared with a net loss of $374k a year previously. Adjusted EBITDA grew to $7.6m from $4.3m.

Operating income was $1.7m, allowing for $2.1m in stock-based compensation costs and $1.3m in acquisition costs. Operating loss for the second quarter was $416k, and operating expenses totaled $21.1m, versus $17.6m for Q2 last year.

Other businesses reported more modest gains than the meteoric TV Everywhere product line, but still fared very well: revenue for Movies Everywhere rose 5% to $7.7m, while OnDemand Everywhere saw revenue climb 15% to $3.9m.

Chairman and CEO Bill Livek (pictured) commented: 'We had a great quarter and remain on target to achieve our full year guidance. Our proposed merger with comScore adds even more excitement as we will work together to accelerate the pace of innovation, and offer new and improved solutions for cross-platform TV measurement, not available anywhere else'.

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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