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Video advertising technology group Tremor International swung to a full-year pre-tax loss after revenue fell and it incurred higher marketing costs.
Pre-tax losses for the year through December amounted to $7.4 million, compared to a year-on-year profit of $3.6 million.
Revenue dropped 35% to $211.9 million, which Tremor said was related to it recognising revenue on a net basis for programmatic activity, which previously been recognised on a gross basis.
If revenue had been reported on a comparable basis, it would have risen 2% to to $211.9 million, the company said.
'Building on the momentum from last year, we have seen a very strong start to 2021 compared to the same period, pre Covid-19, in 2020, driven by strong organic growth,' it added.
At 9:34am: (LON:TRMR) Tremor International LTD share price was 0p at 226p