Business
Q3 Trading Update
Q3 Trading Update.
About this update from Seeen Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7513E\n SEEEN PLC\n 10 November 2020\n \n \n \n \n SEEEN plc\n \n \n (\"SEEEN\", \"Group\" or the \"Company\")\n \n \n Q3 Trading Update\n \n \n SEEEN plc (SEEN: AIM), the global media and technology digital experience platform (\"DXP\") that enables brands and consumers to unleash video for improved digital marketing yield and frictionless e-commerce, is pleased to announce its third quarter update and to provide guidance through year-end as technology sales are anticipated to begin supplementing growth from the Group's multichannel network (\"MCN\").\n \n \n Revenue, audience views and advertising yield from videos rebounded strongly in 3Q after significant 2Q Covid-19 disruption, enabling improvement in Year to Date growth path.\n \n \n Revenues and Adjusted Loss Before Tax In-Line with full-year market expectations. \n \n \n Technology product sales anticipated during 4Q leading to both Brand licensing and accelerated MCN growth after technology is applied to creators.\n \n \n Financial Highlights\n \n \n · \n 3Q Revenue up 23% at $2.7m (3Q 2019: $2.2m)\n \n \n o \n YTD revenue down 9% at $6.4 million (YTD 2019: $7.0 million) improving from 1H YTD revenue which was down 22%\n \n \n · \n 3Q Audience views up 77% at 4.9 billion (3Q 2019: 2.7 billion) \n \n \n o \n YTD views up 44% improving from 1H YTD views which were up 30% at 1H\n \n \n · \n 3Q Yield from Views (RPM (revenue per thousand views)) down 31% in 3Q at $1.00 (3Q 2019: $1.45) \n \n \n o \n YTD RPM of $0.87 improving from 1H YTD RPM which was $0.78\n \n \n · \n Adjusted loss before tax in line with expectations \n \n \n ·\n Balance sheet strong with approximately $6.0 million of cash at 31 October 2020, which enables the Company to meet its growth plan objectives in 2021\n \n \n \n \n \n Product Highlights \n \n \n · \n Pilots in place with brands and MCN creator launch partners leading to anticipated commercialization in the second half of 4Q\n \n \n ·\n Automation of Multiexperience Publishing for brands, including Microsites and Syndication Widgets, enables SEEEN to establish a Software as a Service model for the Group's DXP platform leading to recurring subscription revenue\n \n \n ·\n Multiexperience Publishing and Microsites embody patent-backed proprietary AI applications - CreatorSuite and Jetstream\n \n...