Matomy Media progresses after quitting unprofitable sectors

The Israel-based company noted it was the first year it was reporting quarterly results, and thus comparative figures were not included but would be reported in 2019 reports.

Revenue after bad debt was $101m, with direct media costs totalling $70.2m.

Its adjusted gross profit was reported at $30.8m with an adjusted gross margin of 30.5%, and direct adjusted EBITDA totalling $4.2m.

Total corporate allocations reached $2.2m, with the company’s adjusted EBITDA ending up at $2m.

“In the first nine months of 2018, we continued our strategic path and exited our non profitable activities,” said Matomy Media president and chief executive officer Liam Galin.

“Post third-quarter, we sold our in-app advertising activity, that needed heavy investments to take it to the next level.”

Galin said the firm could now focus its attention and resources on growing its profitable domain monetisation activity.

“In parallel, we are working closely with our stakeholders to resolve concerns so we may move forward in maximizing value for all.”