Video advertising platform YuMe announced its Q4 and full year 2017 financial results on Thursday. For 2016, revenue was $160.4 million, down from $173.3 million in 2016. The top 20 advertising customers accounted for $69.3 million, and mobile, tablet and connected television impressions made up 47% of yearly revenue.
For 2016, programmatic revenue was $21.2 million. The highest quarterly yield was in Q4: $13.3 million.
“Programmatic revenue for fourth quarter and full year beat our guidance. We delivered our healthiest gross margins ever and generated our highest adjusted EBITDA result in four years,” stated Paul Porrini, CEO of YuMe.
Revenue for Q4 2016 topped out at $45.6 million, below the $53.8 million brought in by YuMe in the same quarter in 2015. Revenue from the 20 largest advertising customers accounted for $23.8 million. Overall, 54% of revenue came from mobile, tablet and connected television impressions.YuMe’s gross margin for the full year 2016 hit 50%, up from 45.2% in 2015. The company entered a smaller net loss, $7.7 million or $0.22 per diluted share for the year, than the $16.7 net loss, $0.49 loss per diluted share in 2015.
Yearly adjusted EBITDA came in at $10.9 million, compared to an adjusted EBITDA loss of $1.6 million in 2015.
YuMe ended the year with $65.7 million in cash, cash equivalents and marketable securities, and carries no debt into 2017.