Fyber N.V.: published results for H1 2020

Fyber N.V. published results for H1 2020
33% YoY growth of programmatic business in H1 2020 driven by video advertising
which quadrupled to €13 million

Key Facts H1 2020

• 21% overall YoY revenue growth reaching €65 million
• Organic growth of 33% YoY in programmatic trading
• Revenue from video advertising quadrupled to €13 million - making up 20% of overall business and the share is set to increase
• Guidance for 2020: the Company is expecting above 30% YoY growth, resulting in €155 million to €165 million revenue and adjusted EBITDA of at least break-even

Berlin, 26 August 2020 - Fyber N.V. ("Fyber" or the "Company", FSE:FBEN), a leading mobile advertising technology company, today published its financial results for the first half of 2020.

Fyber's revenue grew by 21% to €65.2 million (H1 2019: €54.1 million), based on a 33% increase in its programmatic business, a quadrupling of revenue from programmatic video advertising and stable development for Offer Wall Edge. Video now accounts for 20% of the overall business and is set to increase its share further. 68% of revenue stems from programmatic trading, up from 61% during H1 2019.

The general economic slowdown caused by the COVID-19 pandemic led to limited available advertising budgets and specifically a decrease in brand advertising activity within the ad tech market. For Fyber, this meant a change in revenue mix in favor of an increased share of video advertising, which generally generates lower revenue margins than the Company's display offering. The gross profit amounted to €8.9 million (H1 2019: €9.9 million). The reduction in operating and personnel costs of €2.3 million enabled limiting the adjusted EBITDA loss at €-1.7 million (H1 2019: €-1.6 million), in line with the Company's full-year planning of achieving an adjusted EBITDA of at least break-even for the full year 2020.

Acknowledging that further developments in relation to COVID-19 and new privacy regulations by Apple are uncertain and not quantifiable at this point in time, the Company expects to achieve a revenue between €155 million and €165 million for the full year 2020, putting year-over-year revenue growth at above 30%.

Ziv Elul, CEO of Fyber, commented: "Fyber achieved a strong start to the year despite the challenging market situation. The growth in video advertising of more than 300% compared to H1 2019 exceeded our expectations, driving further organic growth in programmatic trading and a 21% rise in overall revenue. Our proactive approach in reacting to COVID-19 is centered around the safety of our people first, while focusing on reducing operational and personnel costs without jeopardizing our product and business efforts - all successfully implemented. The various growth initiatives in place, including further expanding the revenue share from video advertising as well as Fyber FairBid's market footprint allow for a positive outlook on the rest of the year."

The complete interim statement is available on the Fyber website under: https://investors.fyber.com/reports-presentations.

Key Figures

^{*Note: Unaudited, adjusted EBITDA excluding one-off impacts, not a measure calculated in accordance with IFRS.}

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About Fyber
Fyber is a global technology company, developing a next-generation monetization platform for mobile app publishers. Fyber combines proprietary technologies and expertise in mediation, programmatic, and video to create holistic solutions that shape the future of the app economy. Fyber has seven global offices in Berlin, San Francisco, New York, London, Tel Aviv, Seoul, and Beijing. It is publicly traded on the Frankfurt Stock Exchange under the symbol FBEN. To learn more, visit www.fyber.com.

Investor Contact
Sabrina Kassmannhuber
ir@fyber.com
+49 30 609 855 555