TubeMogul, the programmatic video ad platform that recently filed for an IPO, has updated its S-1 filing. The updated S-1 includes data from Q1 2014, giving us an updated look at how the company is performing.
TubeMogul pulled in an impressive $22 million in total revenue during Q1 2014, up substantially (130%) from the $9.6 million it generated during Q1 2013. The company’s cost of revenue was $6.2 million, putting its total gross profit from Q1 2014 at $15.8 million.
Total spend through the platform was $48 million last quarter, up 194% from the $16.3 million in Q1 2013.
Just over $35 million of that spend came from marketers using the platform on a self-serve basis. In other words, nearly 75% of the money flowing through TubeMogul’s platform was spent on a self-serve basis.
This is noteworthy because the gap between self-serve and managed spend with
TubeMogul has been drastically changing. In 2012, the majority of money spent on the platform was done through managed services (53%). In 2011, 24% of the money was spent on a self-serve basis, and
that figure jumped to 47% in 2012 and to 66% in 2013.
It’s appears that over 75% of the money will be spent on a self-serve basis by the end of 2014, which would symbolize a complete role reversal of direct versus managed services in just three years.
TubeMogul also noted its switch to the NASDAQ exchange. The company had previously planned a launch on the New York Stock Exchange (NYSE). Its proposed ticker remains “TUBE.”