Isentia Problems Continue

Australia-based media intelligence group Isentia has reported a $22m operating loss for the first half of the 2019 financial year, worsening from -$4.0m in H1 2018; with EBITDA moving from a profit of $11.4m last year to a $12.8m loss this year.

According to news site www. mumbrella.com.au , Isentia was already last year's worst performer among ASX-listed media and marketing companies. In H1 2019, Australia and New Zealand revenues saw a 10% fall to $44.7m, while Asian revenue saw a slight rise, with mid- to high single digit revenue growth in South East Asia offset by a 'disappointing' performance in North Asia. The Group failed to trim operating costs to match the revenue fall, with only 0.3% knocked off the H1 2018 total of $51.5m.

It's relatively early days for the new top management team at the troubled company: former Yahoo7 boss Ed Harrison (pictured) joined the firm as Managing Director and CEO last July, replacing John Croll who resigned 12 months ago after twenty years with the business; and in November the company hired a new CTO, CHRO and CFO, followed by a new Chief Product Officer. The changes follow the collapse of King Content in 2017, just two years after it was acquired by Isentia.

In a statement to the exchange, the Directors put the declines down to 'lower SaaS sales reflecting macro media trends (lower press and broadcast volumes) and increased competition (price erosion and customer churn)'. The Group also wrote off intangible assets to the tune of $18.9m in goodwill and $2.9m of its own software platforms.

Originally known as Media Monitors, the company is online at www.isentia.com .

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