For Rubicon Project, maybe 49 really is a magic number.
The company, named after the Rubicon river — the one famously crossed by Julius Caesar in 49 BC — reported fourth-quarter 2014 revenue of $41.8 million, up 49% year-over-year. Rubicon’s full-year revenue was $125.3 million, also up 49% year-over-year. Net income was $1.4 million for Rubicon last quarter.
In its third-quarter 2014 earnings report, Rubicon projected fourth-quarter revenue of about $39 million and year-end revenue between $122 million and $123 million. The better-than-expected numbers have helped stocks of Rubicon (“RUBI”) jump nearly 12%, to $20 per share, in after-hours trading.
If the $20 price holds, it will be Rubicon’s highest since April 2014, the same month the company went public at $15 a share.
Rubicon saw 999 billion paid impressions in 2014, down from about 1.3 trillion in 2013. Rubicon attributes the drop to “quality control initiatives initiated in late 2013, as well as a shift from static to RTB inventory.”
The company is projecting revenue between $34 million and $35 million in the first quarter of 2015, with year-end revenue expected to land between $175 million and $178 million.
“We look forward to a strong 2015 and will continue to invest in the people and technology shaping the future of the growing $200 billion advertising market,” stated Frank Addante, CEO, founder and chief product architect of Rubicon Project.