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Yume Reports Third Quarter 2015 Financial Results

The following excerpt is from the company's SEC filing.

– YuMe, Inc. (NYSE: YUME),

the global audience technology company powered by data-driven insights and multi-platform expertise, today announced its financial results for the third quarter ended September 30, 2015. Financial highlights include:

Revenue of $38.9 million, compared to $43.0 million in the third quarter of 2014 (Q3 2014);

Adjusted EBITDA

loss of $2.8 million, compared to an adjusted EBITDA loss of $0.4 million in Q3 2014;

Net loss of $6.5 million, or $0.19 per diluted share, compared to a net loss of $3.0 million, or $0 .09 per diluted share, in Q3 2014;

$65.5 million in cash, cash equivalents and marketable securities and no debt as of September 30, 2015.

“Our third quarter results included solid overall execution and sequential gross margin expansion, and we are on schedule to complete our programmatic rollout by the end of the year,” said Jayant Kadambi, Chairman and Chief Executive Officer of YuMe. “With the fourth quarter launch of our YuMe for Publishers sell-side platform, we believe we will have a unique, independent solution for the video marketplace across both programmatic and direct channels.”

Customer highlights include:

571 advertising customers for the third quarter of 2015, an increase of 20% from 474 in Q3 2014;

1,030 advertising customers for the twelve month period ended September 30, 2015, an increase of 28% from 807 for the twelve month period ended September 30, 2014.

Highlights for advertising customers accounting for a minimum of $100,000 in trailing twelve-month revenue include:

300 advertising customers, an increase of 13% from 266 for the twelve month period ended September 30, 2014;

Average revenue per advertising customer of $526,000, a decrease of 8% from $570,000 for the twelve month period ended September 30, 2014.

Adjusted EBITDA is a non-GAAP financial measure that we calculate as net income, adjusted to exclude income taxes, interest, depreciation and amortization, and stock-based compensation. We believe that adjusted EBITDA provides useful information to investors in understanding and evaluating our operating results in the same manner as management and the board of directors. This non-GAAP information is not necessarily comparable to non-GAAP information of other companies. Non-GAAP information should not be viewed as a substitute for, or superior to, net income prepared in accordance with GAAP as a measure of our profitability or liquidity. Users of this financial information should consider the types of events and transactions for which adjustments have been made.

Business Outlook

Today, the Company is providing the following estimates for its key financial measures for the fourth quarter of 2015:

Q4 2015

$46.0 - $52.0 million

$2.2 - $5.2 million

Conference Call and Webcast Information

Senior management will host a conference call at 5:00 p.m. ET today to discuss the Company’s results. Investors may access the live call by dialing (877) 201-0168 or (647) 788-4901. A replay will be available through Thursday, November 12 at (855) 859-2056 or (404) 537-3406. (Conference ID: 59259313). A live and archived Webcast of the call will be available...