TLRA - Telaria's Connected TV Revenue Soars 99%
With the recently announced merger just over the horizon between sell-side ad tech companies The Rubicon Project (NYSE: RUBI) and Telaria (NYSE: TLRA), Rubicon had already reported skyrocketing profitability late last month. On the heels of its impressive quarterly performance, investors were keen to see if Telaria would follow suit.
In keeping with Telaria's forecast, connected TV (CTV) accounted for the majority of the company's revenue for the first time. CTV soared to 52% of the company's total revenue, up from just 33% in the prior-year quarter. While that metric showed that management's strategy of focusing on the CTV market was bearing fruit and should have had investors dancing in the streets, the celebration was tempered by another number that put a damper on the proceedings.
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