Rubicon Reports $32.2M Revenue In Q3, Sees RTB Business Grow By 75%

Rubicon Project on Thursday announced its Q3 2014 financial results, reporting $32.2 million in revenue during the quarter, up 60% year-over-year.

“The market opportunity is not only enormous but growing. We see a $200 billion and growing advertising industry ripe for automation, and expect that 50% of that spend will become automated in the coming years,” said Frank Addante, CEO and founder of Rubicon.

The company’s real-time bidding (RTB) business continues to grow, with RTB growth outstripping that of the company in general. Rubicon managed $168.2 million in revenue last quarter, up 43% year-over-year, while RTB grew 75% in the same span.

At market open on Friday, shares of Rubicon (NYSE: “RUBI”) jumped over 14%. But as analysts and investors digested the earnings report, the stock came down from its high and, at press time, was trading at $10.87, up about 7% on the day.

Following its strong Q3 earnings report, the company has updated its rest-of-year guidance, projecting full year revenue to land between $122 million and $123 million. The company anticipates generating somewhere around $39 million in revenue in Q4. Rubicon now has over $104 million in cash, up from nearly $30 million at the end of 2013.

While Rubicon’s stock jumped in after hours trading yesterday (up nearly 20%) and remained hot at market open (up over 14%), the stock has struggled since the supply-side platform (SSP) went public in April.

Rubicon’s stock price topped $20 in mid-April before dropping to the $9-$12 dollar range for the majority of the past five months.

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