RhythmOne sees H1 performance materially ahead

RhythmOne said its H1 performance is expected to be materially ahead of management expectations across several key metrics.

It foresaw revenues of at least $80m, 80% from Core mobile, video and programmatic products. It further expected programmatic revenues of at least $55m, representing 45% growth year-on-year.

The company's adjusted EBITDA shortfall was seen below a loss of $2.9m, a about 60% improvement over H1 2016.

"Importantly, the Company achieved increasing profitability on an adjusted EBITDA basis in each of the last two months of the Period, significantly ahead of internal estimates," the company said.

"For context, this performance was delivered while the Company simultaneously accelerated the draw down of its Non-Core products and migrated certain Core revenues onto its programmatic platform."