- THIRD QUARTER REVENUES OF €20.5 MILLION, DOWN 4% AND UP 1% LIKE-FOR-LIKE
- NINE MONTH REVENUES OF €70 MILLION, UP 8% AND 10% LIKE-FOR-LIKE
- MRR FLAT AT €2.4 MILLION
- FINANCIAL OBJECTIVES MAINTAINED IN THE CURRENT MACROECONOMIC ENVIRONMENT
| Revenue in € thousands | 2022 | 2023 | Change | Like-for-like[1] |
| First Half | 42,853 | 49,104 | +15% | +14% |
| Third Quarter | 21,309 | 20,456 | -4% | +1% |
| First 9 months | 64,163 | 69,560 | +8% | +10% |
| Revenue in € thousands | 9M 2022 | 9M 2023 | Change | Like-for-like |
| EMEA | 18,597 | 22,170 | +19% | +20% |
| USA / Canada | 27,221 | 30,725 | +13% | +13% |
| Latin America | 7,066 | 6,553 | -7% | -3% |
| Asia Pacific | 11,278 | 10,112 | -10% | -8% |
| TOTAL | 64,163 | 69,560 | +8% | +10% |
Q3 figures are unaudited. H1 figures underwent a limited review by auditors.
| MRR in € thousands | Oct 2022 | Oct 2023 |
| Monthly Recurring Revenue[2] | 2,211 | 2,378 |
Alternative performance indicator, not subject to ATEME's statutory auditors' review.
Paris, November 8, 2023 - Ateme (ISIN: FR0011992700), the global specialist in video delivery, generated revenue of €20.5 million for the Third Quarter of 2023, down 4% on a reported basis and up 1% like for like.
At the Nine Month stage, revenues stood at €70 million, up 8% on a reported basis and by 10% like-for-like.
- The USA/Canada confirmed its position as the largest contributor to revenues, at 44% of group total, up 13% reported and 13% like-for-like.
- EMEA revenue was also up by 19% reported and 20% like-for-like, returning to double-digit growth.
- The Asia Pacific region recorded an 10% decline (8% like-for-like), reflecting a challenging base effect with 35% growth a year earlier.
- Similarly, Latin America posted a 7% decline (3% like-for-like), after 17% growth last year.
Financial objectives maintained
The company's Q4 has historically benefited from a positive seasonal effect, and 2023 will be no different, with a substantial pipeline heading into the end of the year. On this basis, Ateme confirms its Full Year objective of 10-15% like-for-like revenue growth. We also maintain our EBITDA target above €5 million, however, in the macroeconomic context, it is understandably more challenging.
Elsewhere, our objective of growing MRR from €1.5 million in January 2021 to €3 million in 2024, translates into an average incremental €100k per quarter. Following performances in excess in both 2021 and 2022, MMR growth has marked a pause in the first nine months of 2023. The MRR is expected to revert to growth in the Fourth Quarter, thereby leading us to confirm our roadmap and our 2024 objective.
ATEME Chairman and Chief Executive Officer, Michel Artières, said: "North America and EMEA delivered strong growth in the first 9 months of this year, offsetting more pedestrian performances in Latin America and APAC, which, as expected, were penalized by a strong previous year bases effect. Based on the traditionally strong Q4 seasonality and a strong pipeline heading int the end of the year, we maintain our Full Year 2023 objectives."
Upcoming event:
January 25th, 2024: Full Year 2023 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 560 employees spread over its headquarters in France and 20 offices around the world including the USA, Brazil, Argentina, UK, Spain, Germany, 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 2022, Ateme served close to 1,000 customers worldwide with revenues of €90 million, of which more than 90% outside its home market.
Find out more: www.ateme.com.
Name: ATEME - ISIN Code: FR0011992700 - Ticker: ATEME - Compartment: C
| Ateme | INVESTOR RELATIONS | PRESS RELATIONS |
| Michel Artières Chairman and CEO | Anne-Catherine Bonjour Tel: +33 (0)1 53 67 36 93 ateme@actus.fr | Amaury Dugast Tel: +33 (0)1 53 67 36 74 adugast@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 involve 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
[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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