SEEEN PLC Q3 Trading Update (7513E)
10 November 2020 - 6:00PM
UK Regulatory
TIDMSEEN
RNS Number : 7513E
SEEEN PLC
10 November 2020
SEEEN plc
("SEEEN", "Group" or the "Company")
Q3 Trading Update
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").
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.
Revenues and Adjusted Loss Before Tax In-Line with full-year
market expectations.
Technology product sales anticipated during 4Q leading to both
Brand licensing and accelerated MCN growth after technology is
applied to creators.
Financial Highlights
-- 3Q Revenue up 23% at $2.7m (3Q 2019: $2.2m)
o YTD revenue down 9% at $6.4 million (YTD 2019: $7.0 million)
improving from 1H YTD revenue which was down 22%
-- 3Q Audience views up 77% at 4.9 billion (3Q 2019: 2.7 billion)
o YTD views up 44% improving from 1H YTD views which were up 30%
at 1H
-- 3Q Yield from Views (RPM (revenue per thousand views)) down
31% in 3Q at $1.00 (3Q 2019: $1.45)
o YTD RPM of $0.87 improving from 1H YTD RPM which was $0.78
-- Adjusted loss before tax in line with expectations
-- 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
Product Highlights
-- Pilots in place with brands and MCN creator launch partners
leading to anticipated commercialization in the second half of
4Q
-- 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
-- Multiexperience Publishing and Microsites embody
patent-backed proprietary AI applications - CreatorSuite and
Jetstream
-- Very strong 3Q data from pilots that validates the value proposition for customers:
o Increases view time by up to 3x on websites
o Improves reach by over 30%
o Significant improvements in both website and keyword ranking
for Google search
o Reduces bounce rates to below 20%
o Improves clickthrough rates by up to 10x, driving contextual
e-commerce and other revenue streams for video asset owners
Todd Carter, CEO of SEEEN, stated, "We are pleased that
financial results from our MCN business have rebounded strongly
during 3Q ahead of our commercial rollout of our AI-powered
products. Our technology offerings will not only improve digital
marketing yield for our MCN, but also open up opportunities for
supplementary e-commerce revenue. Moreover, through our
SaaS-delivered, Multiexperience Publishing, Microsite and
Syndication Widgets offering, we look to layer-in recurring income
from brands and creators. We look forward to finishing 4Q strongly
and wiping out the disruptive results from the initial shock of the
pandemic during 1H. Importantly, we are on track to commercialize
our technology products and "unleash" not only video but
shareholder value."
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014
SEEEN plc - seeen.com
Patrick DeSouza, Chairman Tel: +1 203 654
Todd Carter, CEO 5426
Adrian Hargrave, CFO
+44 (0)7775 701
838
Dowgate Capital Ltd (Joint Broker) Tel: 07920 599
793
Stephen Norcross
WH Ireland (Joint Broker and Tel: 020 7220
Nomad) 1666
Adrian Hadden / James Sinclair-Ford
/ Matthew Chan
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