TubeMogul Beats Q4 Expectations, Misses On Outlook

TubeMogul Inc

reported financial results Thursday for its fourth quarter ended December 31, 2014. The company beat Q4 expectations but missed on its 2015 outlook. Revenue was $36.1 million, above estimates of $32.20 million and an increase of 64 percent compared to the $22.0 million reported in the fourth quarter of 2013. Total spend was $82.6 million, an increase of 85 percent compared to $44.7 million in the fourth quarter of 2013. The company reported a loss per share of $(0.14), narrower than the expected loss of $(0.17). Net loss was $(4.0) million, compared to a net income of $0.1 million for the fourth quarter of 2013. Gross profit was $25.7 million, an increase of 77 percent compared to $14.5 million in the year ago period. CEO Brett Wilson said, "We continued to see strong adoption of our software in the fourth quarter by both brands and agencies. Brands and agencies increasingly recognize the advantages of a centralized buying platform and the opportunity to gain more control over their media spend. We are well positioned to partner with them as they make this transition to a software-driven advertising platform. Our outlook for 2015 is exciting as we begin to make inroads to accessing television ad budgets and add display and social advertising formats to our software." For Q1, the company expected total spend in the range of $68 million to $70 million and revenue in the range of $28 million to $30 million. Analysts had expected revenue of $31.58 million. Q1 gross profit was expected to be in the range of $20 million to $22 million with an adjusted EBITDA loss in the range of $(5) million to $(3) million. For the full year of fiscal 2015, the company expected total spend in the range of $360 million to $370 million with revenue in the range of $142 million to $152 million. Analysts expected full year revenue of $154.21 million. Full year gross profit was expected in the range of $101 million to $111 million with an adjusted EBITDA loss in the range of $(19) million to $(9) million. TubeMogul Inc traded at $13.00 in the after hours session, down 27.54 percent.