| Revenue in € thousands | 2020 | 2021 | Change | Like for like[1] |
| First Half | 29,038 | 32,436 | 12% | -6% |
| Third Quarter | 14,074 | 23,178 | 65% | +27% |
| First 9 months | 43 112 | 55 614 | 29% | +7% |
| Revenue in € thousands | 9M 2020 | 9M 2021 | Change | Like for like |
| EMEA | 13,169 | 22,575 | 71% | +19% |
| USA / Canada | 18,103 | 18,664 | 3% | -1% |
| Latin America | 4,020 | 6,049 | 50% | -5% |
| Asia Pacific | 7,819 | 8,327 | 6% | +7% |
| TOTAL | 43,112 | 55,614 | 29% | +7% |
Q3 figures are unaudited. H1 figures underwent a limited review by auditors.
| MRR in € thousands | Jan 2021 | Oct 2021 |
| Monthly Recurring Revenue[2] | 1,500 | 1,899 |
Alternative performance indicator, not subject to ATEME's statutory auditors' review.
Paris, November 5, 2021 - ATEME (ISIN: FR0011992700), the emerging leader in video delivery infrastructure, generated revenues of €23.2 million for the Third Quarter of 2021, up by 65% on a reported basis and by 27% like for like.
Revenues for the First Nine Months stood at €55.6 million, up by 29% reported and 7% like for like (with a marginal exchange rate effect).
- The EMEA region returned to the fore as the largest contributor to revenues, with revenues representing 41% of group total, up 71% reported, and 19% like for like.
- The USA/Canada region contributed 33% of group revenues, up 3% reported and down 1% like for like.
- Asia Pacific represented 15% of revenues, up 6% reported and 7% like for like.
- Revenues in Latin America is up 50% reported with a significant Anevia contribution, and down 5% like for like.
MRR (Monthly Recurring Revenues) trending ahead of target
The objective published at the beginning of the year to grow MRR from €1.5 million in January 2021 to €3 million in 2024, translates into an incremental €100k per quarter. At the end of October 2021, Monthly Recurring Revenues stood at €1.9 million, implying the group has already achieved the annual target.
Strong operational momentum
With the acquisition of Anevia, ATEME has enhanced its value proposition for media companies and service providers, offering a wide range of software solutions for OTT delivery.
The integration of Anevia is 99% complete with synergies set to materialize in 2022 both in terms of savings and cross-selling. Several major deals are under discussion with legacy ATEME customers to deploy Anevia's NEA solutions.
ATEME's innovation leadership is evidenced by the 50% headcount dedicated to R&D, its strong contribution to industry standardization initiatives and the multiple awards this year. ATEME solutions are reinventing video delivery, notably with cloud native software technologies leveraging the flexibility of hybrid cloud or multi cloud implementation, and multiple solutions generating incremental revenue streams for our customers based on ad insertion, personalized TV and Open Caching compliant CDN (Content Delivery Network).
Disposal of non-core business
ATEME has announced the disposal of Anevia's Enterprise and Hospitality business solutions to focus on its core business. As a reminder this activity generated 3,5 million euros in 2019 before it was impacted by the Covid crisis.
Full Year Revenues objectives confirmed
Based on our strong Third Quarter including the attainment of our annual MRR target, we reiterate our Full Year and longer term objectives. Nevertheless we remain vigilant concerning global supply chain issues of semiconductors and servers, with potentially an attendant impact on revenues.
ATEME Chairman and Chief Executive Officer, Michel Artières, said: "As expected, ATEME delivered a strong Third Quarter and we have already met our annual MRR growth target. What comes next is even more exciting. We are sowing the seeds of a tremendous success story in the coming years with our strong focus on R&D investment, MRR creation and Anevia synergies starting to feed through."
Upcoming publications: January 27, 2022: Full Year 2021 revenues
About ATEME: Ateme is a global leader of video compression and delivery solutions helping Tier-1 Content Providers, Service Providers and Streaming Platforms to boost their viewership and subscription engagement.
Leveraging a unique R&D task force in the video industry, Ateme's solutions power green sustainable TV services, improve end-users' quality of experience, optimize the total cost of ownership of TV/VOD services and generate new revenue streams based on personalization and ad insertion. Beyond the technology agility, Ateme's value proposition is to partner with his customers by offering a great flexibility in the engagement and business models matching their financial priorities. A consequence is a rapid shift to Recurring Revenues, boosting the company resilience and creating long term value for the shareholders.
Founded in 1991, Ateme has 490 employees spread over its headquarters in France and 20 offices around the world including the USA, Brazil, Argentina, UK, Spain, Germany, Russia, the UAE, Singapore, China, Korea, and Australia.
Ateme has been listed on the Paris Euronext market since 2014 and in November 2020 it made the acquisition of Anevia, a provider of OTT and IPTV software solutions. In 2020, Ateme served close to 1,000 customers worldwide with revenues of €70.7 million, of which 93% outside its home market.
Name: ATEME - ISIN Code: FR0011992700 - Ticker: ATEME - Compartment: C
| ATEME | INVESTOR RELATIONS | PRESS RELATIONS |
| Michel Artières Chairman and CEO | Olivier Lambert Tel: +33 (0)1 53 67 36 33 ateme@actus.fr | Anne-Catherine Bonjour Tel: +33 (0)1 53 67 36 93 acbonjour@actus.fr |
DISCLAIMER
This press release does not constitute or form part of and should not be construed as any offer for sale of or solicitation of any offer to buy any securities of ATEME, nor should it, or any part of it, form the basis of or be relied on in connection with any contract or commitment whatsoever concerning ATEME's assets, activities or shares.
All statements other than historical facts included in this presentation, including without limitations, those regarding ATEMEs' position, business strategy, plans and objectives are forward-looking statements.
The forward-looking statements included herein are for illustrative purposes only and are based on management's current views and assumptions. Such forward-looking statements known and unknown risks. For illustrative purposes only, such risks include but are not limited to impact of external events on customers and suppliers; the effects of competing technologies competition generally in main markets; profitability of the expansion strategy; litigation; ability to establish and maintain strategic relationships in major businesses; and the effect of future acquisitions and investments.
ATEME expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this presentation to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based, unless so required by applicable law. These materials are supplied to you solely for your information and may not be copied or distributed to any other person (whether in or outside your organization) or published, in whole or in part, for any purpose.
[1] At constant exchange rate and perimeter (ATEME + Anevia)
[2] Alternative performance indicator, not subject to ATEME's statutory auditors' review: Monthly Recurring Revenue is defined as the sum of (1) the monthly revenue from support contracts in hand, and (2) the monthly revenue from multi-year licensing contracts in hand (capex), and (3) the monthly revenue from license lease contracts (OPEX).
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