Today's News |
Media Tech Company BBTV Announces Q3 2021 Results
Thursday, November 18, 2021Company Profile | Follow Company
Vancouver, BC, November 18, 2021--(T-Net)--BBTV Holdings Inc. (TSX: BBTV) (OTCQX: BBTVF), a media tech company, today announced financial results for Q3 2021 ended on September 30, 2021.
Shahrzad Rafati, Chair and CEO, Broadband TV
"Our higher margin Plus Solutions are an important driver in the improvement of our overall margins and are broadly tracking our ambitious internal goals," said Shahrzad Rafati, Chairperson and CEO of BBTV. "Plus Solutions revenue streams had solid growth at 23% this quarter, our views retention was strong at 94%, and we saw robust RPM growth of 5% in contrast to some reported industry trends for the quarter. We achieved solid Adjusted EBITDA margin performance. We expect these growth rates to be sustainable on an annual basis as we continue to invest in our Plus Solutions. Our recently announced deal with Spotter for up to US$125 million is just one example of how BBTV can leverage the large and growing scale of our profitable Base Solutions business to power higher margin Plus Solutions revenue. We are on a mission to power the creator economy and are just getting started."
Q3 2021 Financial Highlights:
Q3 2021 Operational Highlights:
Outlook:
Our outlook for the remainder of 2021 and heading into 2022 follows a continued focus on the expansion of our high-margin Plus Solutions. The creator economy continues to grow across all revenue streams that BBTV participates in, from Direct Advertising Sales and Content Management to Mobile Gaming Apps and NFTs.
In view of these ongoing tailwinds, we continue to expect strong performance across our Plus Solutions and sustainability of these positive trends through the remainder of the year and into 2022. We have growing confidence that our original guidance for the Company remains intact, and we continue to expect to be Adjusted EBITDA profitable on an annual basis next year. In the coming quarters, we expect the following:
About BBTV
BBTV is a global media and technology company headquartered in Vancouver, Canada. The Company's mission is to help content creators become more successful. With creators ranging from individuals to global media brands, BBTV provides comprehensive, end-to-end Solutions to increase viewership and drive revenue powered by its innovative technology, while allowing creators to focus on their core competency - content creation. In January 2021, BBTV had the second most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 50 billion minutes of video content, the most among media companies [1]. (www.bbtv.com)
[1] Calculations and classifications made by BBTV based on data from Comscore's "Top 12 Countries = January 2021 comScore Video Metrix Media Trend - Multi-Platform - Top 100 Video Properties Report"; Top 12 countries represent ~50% of world's digital population.
Aditional Notes:
Due to the acquisition by the Company of BroadbandTV Corp. on October 28, 2020 (the "Business Combination Transaction"), which contributed less than three months of results of BroadbandTV Corp. to the results of operations of the Company for the prior year ended December 31, 2020, the Q3 2020 results are provided on a pro forma basis.
The pro forma basis includes the operations of BroadbandTV Corp, the main operating entity and BBTV Holdings for both Q3 2021 and Q3 2020. The statutory financial statements include BBTV Holdings only, which does not include the main BroadbandTV operating entity for Q3 2020, but does for Q3 2021. See "Pro Forma Basis" below for further information regarding this pro forma presentation.
The Management Discussion and Analysis ("MD&A"), along with full financial statements are posted and available on SEDAR at www.sedar.com. All dollar amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards ("IFRS").
Pro Forma Basis
The pro forma information contained herein includes BroadbandTV Corp.'s financial results for comparative periods in 2020 as if the Business Combination Transaction had occurred on January 1, 2019 as well as provisional adjustments for the effects of acquisition accounting, but does not include adjustments for costs related to integration activities, cost savings or synergies that might be achieved by the combined businesses. The sources of these pro-forma results are the Q3 2021 Financial Statements and Annual Financial Statements combined with the internal, unaudited financial information of the acquired business for the same periods. These pro-forma financial measures are not specified, defined or determined under IFRS accounting rules. Pro-forma amounts to be presented are not necessarily indicative of what the Company's results would have been had BBTV Holdings completed the Business Combination Transaction on January 1, 2019, nor will the historical pro-forma amounts necessarily be indicative of future results. See also "Non-IFRS Measures and Key Metrics" below for further information regarding the Company's non-IFRS measures.
Forward-Looking Statements
|
Other Recent Company News |
||||||||||||||||||||
|