Internet Software and Services
Company Overview of Millennial Media Inc.
Millennial Media, Inc. provides mobile advertising solutions to advertisers and developers in the United States and internationally. It offers advertisers the opportunity to reach and engage with their targeted audiences across mobile devices and screens; solutions that enables advertisers to gain insights into the performance of their ad campaigns and to manage their campaigns; and cross-screen device map that allows to associate a single user with multiple online and mobile devices. The company’s solutions for advertisers also include mmDSP, a demand side platform that accesses inventory directly from developers through its ad exchange; and mmStudio solution, which enables advertisers and ...
2400 Boston Street
Baltimore, MD 21224
Founded in 2006
Key Executives for Millennial Media Inc.
Chief Executive Officer, President and Director
President of Managed Media
Compensation as of Fiscal Year 2015.
Millennial Media Inc. Key Developments
Millennial Media, Inc. Announces Amendment to the Articles of Incorporation
Oct 23 15
Millennial Media Inc. entered into an agreement and plan of merger dated as of September 3, 2015, with AOL Inc. and Mars Acquisition Sub Inc., a wholly owned subsidiary of AOL. On October 23, 2015, pursuant to the terms of the merger agreement and in accordance with section 251(h) of the Delaware General Corporation Law, acquisition sub merged with and into the company, with the company being the surviving corporation. Upon completion of the Merger, the company became a wholly owned subsidiary of AOL. Pursuant to the terms of the merger agreement, at the effective time, the company's certificate of incorporation and bylaws, as in effect immediately prior to the effective time, were amended and restated in their entirety.
Michael Barrett to Leave Millennial Media as CEO
Oct 16 15
Millennial Media CEO Michael Barrett will leave the company after finalizing its sale to AOL Inc. Barrett is among a handful of top Millennial executives with whom the company and prospective buyer AOL have planned severance and release deals contingent on seeing through Millennial's sale to AOL.
Millennial Media Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter of 2015 and Revises Earnings Guidance for the Full Year of 2015
Aug 10 15
Millennial Media Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of $65.862 million compared to $67.308 million a year ago. Loss from operations was $15.293 million compared to $15.044 million a year ago. Loss before income taxes was $15.393 million compared to $15.079 million a year ago. Net loss was $15.458 million or $0.11 per basic and diluted share compared to $15.090 million or $0.14 per basic and diluted share a year ago. Adjusted EBITDA was $6.903 million compared to $6.111 million a year ago. Diluted non-GAAP net loss per share was $0.05 compared to $0.06 a year ago. Capital expenditures were $1.3 million.
For six months, the company reported revenue of $129.032 million compared to $139.928 million a year ago. Loss from operations was $34.927 million compared to $27.947 million a year ago. Loss before income taxes was $35.082 million compared to $28.010 million a year ago. Net loss was $35.241 million or $0.25 per basic and diluted share compared to $28.037 million or $0.26 per basic and diluted share a year ago. Adjusted EBITDA was $18.383 million compared to $10.770 million a year ago. Diluted non-GAAP net loss per share was $0.13 compared to $0.10 a year ago.
For the third quarter of 2015, the company currently expects total gross billings to be in the range of $80 million to $84 million, consisting of $55 million to $57 million for its Managed Media business and $25 million to $27 million for its Platform business. The company expects total GAAP revenue for the third quarter of 2015 to be in the range of $63 million to $66 million, comprised of Managed Media GAAP revenue between $55 million to $57 million and Platform GAAP revenue between $8 million to $9 million. The company expects Adjusted EBITDA for the third quarter of 2015 to be in the range of a loss of $7 million to $8 million. The company expects total GAAP gross margins of about 43%.
The company is revising guidance for the full year ending December 31, 2015. The company expects total gross billings for the full year ending December 31, 2015 to be in the range of $344 million to $360 million, consisting of $232 million to $242 million for its Managed Media business and $112 million to $118 million for its Platform business. The company expects total GAAP revenue for the full year 2015 to be in the range of $267 million to $280 million, consisting of Managed Media GAAP revenue between $232 million to $242 million and Platform GAAP revenue between $35 million to $38 million. The company expects capex for the full year 2015 to be about $4 million.
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