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SEEEN's revenues and adjusted loss before tax in line with full-year market expectations
StockMarketWire.com
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Global media and technology digital experience platform SEEEN's revenue rebounded strongly in the third quarter with a strong balance sheet, according to its Q3 trading update.
Revenues and adjusted loss before tax are in line with full-year market expectations, with Q3 revenue up 23% at $2.7 million from $2.2 million in Q3 2019. However, year-to-date revenue is down 9% at $6.4 million from $7.0 million in the previous year. The company has approximately $6.0 million of cash at 31 October 2020.
Revenue, audience views and advertising yield from videos rebounded strongly in 3Q after significant 2Q Covid-19 disruption, enabling improvement in its year to date growth path.
Technology product sales are anticipated during the fourth quarter leading to both brand licensing and accelerated MCN growth after technology is applied to creators.
Todd Carter, CEO of SEEEN, said: '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.'
At 9:55am: (LON:SEEN) share price was +1p at 25p
Story provided by StockMarketWire.com
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