- Shares of digital advertising platform Tremor International Ltd. (TRMR) are down some 30% since reporting a 3Q21 earnings and revenue beat; and 25% since listing on NASDAQ in June 2021.
- That report showcased contribution ex-TAC growth of 93% for the first nine months of 2021, but 4Q21 is only expected to organically grow 16% as post-pandemic comps get tougher.
- With rumors of private equity interest, a pristine balance sheet, and trading at an EV/FY21 Adj. EBITDA of 5.5, Tremor merited a deeper dive.
For further details see:
Tremor International: The Cheap Valuation Puts A Floor In This 'Busted-ADS'