By Leah Montebello
Shares in digital ad firm Tremor International tanked 15 per cent in early morning trade, despite the firm posting a record adjusted EBITDA of $72.7m in the six month ending June 30.
It comes the advertising landscape continues to face economic instability and ongoing instability as a result of international conflict.
Video revenue, including CTV, continued to represent the overwhelming majority of Tremor’s Contribution ex-TAC at approximately 80 per cent for Q2 and H1 2022.
Tremor posted a record Q2 Connected TV (CTV) spend of $64.7m, which reflected an increase of 30 per cent compared to Q2 2021, and record H1 CTV spend of $110.9m represented an increase of 26 per cent compared to H1 202
Commenting on the results, Tremor chief Ofer Druker said: Tremor’s data-powered end-to-end technology and business platform continued to drive increased customer adoption and displayed impressive resiliency while generating record profitability and best-in-class industry margins for both Q2 and H1, despite ongoing macroeconomic challenges,”
“We’ve also recently taken important steps to further scale and differentiate our business, including entering into a definitive agreement to acquire Amobee, our agreement to invest $25 million in VIDAA which is intended to deepen our strategic data and CTV media relationship, and the completed integration of Spearad.”
Tremor expects revenue excluding traffic acquisition costs for the full year to hit approximately $290m, with an adjusted EBITDA of approximately $200m.
The firm said the guidance is based on the expectation that there will be no major Covid-19-related setbacks or significant escalation of war that could reduce advertiser demand further.
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