Tremor’s AGM statement shows that Tremor was delivering on its strategy and on course to achieve FY20 revenue of $425m in Q1. However, the impacts of COVID-19 on the advertising industry led to a challenging Q2 20, with Tremor’s revenue falling with the market to be c40% below Tremor’s FY20 plan. In response, management have moved quickly to reduce FY20 opex by over $23m vs budget, and positioned Tremor’s platform to respond to a rebound in demand. There are encouragin
18 Jun 2020
Tremor - Strong Q1 before large COVID-19 impacts in Q2
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Tremor - Strong Q1 before large COVID-19 impacts in Q2
Nexxen International Ltd. (NEXN:LON) | 211 25.7 6.2% | Mkt Cap: 295.0m
- Published:
18 Jun 2020 -
Author:
Michael Hill | Cavendish Research -
Pages:
16
Tremor’s AGM statement shows that Tremor was delivering on its strategy and on course to achieve FY20 revenue of $425m in Q1. However, the impacts of COVID-19 on the advertising industry led to a challenging Q2 20, with Tremor’s revenue falling with the market to be c40% below Tremor’s FY20 plan. In response, management have moved quickly to reduce FY20 opex by over $23m vs budget, and positioned Tremor’s platform to respond to a rebound in demand. There are encouragin