DGAP-News: Fyber N.V. publishes interim statement 9M 2018

Fyber N.V. publishes interim statement 9M 2018

Key Facts

- Gross revenue of EUR90 million and adjusted EBITDA of EUR-8 million in 9M 2018

- Financials still affected by one-off effects and strategic decisions to set stable foundations for future growth

- Gross revenue up by 20% in October compared to Q3 2018 monthly average

- Transitioned Fyber FairBid to general release following a successful beta phase

- Revenue growth expected for full-year 2019

Berlin, 21 November 2018 - Fyber N.V. ("Fyber" or the "Company", FSE:FBEN), a leading advertising technology company, today reports its financial results for the first nine months of 2018. In the reporting period, the Company delivered gross revenue of EUR90 million (9M 2017: EUR177 million), net revenue of
EUR33 million (9M 2017: EUR52 million) and an adjusted EBITDA of EUR-8 million (9M 2017: EUR-3 million).

The revenue development was still impacted by the previously described one-effects related to Fyber's 'Keeping it Clean' initiative and Google's ban of charging screen ads - both external factors, that affected not only Fyber, but the wider market. Fyber's core business, i.e. the business excluding aggregators on the supply-side and charging screen ads, was unaffected by the external market effects, but also decreased in the first nine months of 2018. This was primarily due to the fact that resources were spent on the integration of former group companies, the roll-out of new products and platform features including Fyber FairBid to clients, and the technical integration of new major demand partners, with whom the Company successfully entered into important strategic partnership during the last months.

Based on these influences, the Company subsequently updated its guidance for the full year 2018, now expecting gross revenues in the range of EUR130 to EUR135 million at an adjusted EBITDA between EUR-5 and EUR-7 million.

With the conclusion of the "Keeping it Clean" initiative, the leaner cost base stemming from the efficiency initiatives and the realized synergies, the further market adoption of Fyber FairBid and the roll-out of the fully unified platform during 2019, the Company anticipates an uptick in financial performance in 2019. For the full year 2019 the management expects to deliver gross revenues in the range between EUR155 and EUR175 million at an adjusted EBITDA between break-even and EUR5 million.

The effects are summarized in the table below:

The guidance can be summarized as follows:

Since October, Fyber FairBid is scaling rapidly and the initial results both for the integrated publishers using the product and the Company itself were very positive. Publishers can improve their yield as all types of buyers have access to a real-time auction, which eliminates latency and missed revenue opportunities.
Gross revenue in October increased by 20% compared to the average monthly revenue in the third quarter 2018, also positively impacted by the release of Fyber FairBid.

Fyber CEO Ziv Elul, commented: "We are now at a turning point. The core of Fyber's unified platform - Fyber FairBid - was successfully launched and the initial results are very promising. And the latest numbers on business development in October show that we are on the right track. Thus, we are very confident that we will return to our growth path in 2019."

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

Key Figures

^{*Note: Adjusted to eliminate one-off impacts such as acquisition-related costs and option plans}

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About Fyber
Fyber is a leading advertising technology company, developing a next generation platform for the programmatic trading of ads, in a data-driven environment. Our mission is to fuel the creation of quality content by empowering digital publishers and app developers to unlock the true value of their advertising properties through advanced technologies, innovative ad formats and data-driven decision-making. Fyber's technology platform provides an open-access platform for both digital advertisers and publishers with a global reach of more than 1.2 billion monthly unique users. Fyber has offices in Berlin, Tel Aviv, New York, San Francisco, London, Beijing and Seoul. The Company employs more than 300 people globally and is listed on the Prime Standard of Frankfurt Stock Exchange under the symbol 'FBEN' and the ISIN NL0012377394.
Investor Contact
Sabrina Kassmannhuber
ir@fyber.com
+49 30 609 855 555

Media Contact
Anja Ben Lekhal
anja.benlekhal@kirchhoff.de
+49 40 609 186 55