- Q1 REVENUES OF €17.7 MILLION, DOWN 35% REFLECTING THOUGH COMPARISON BASIS IN USA/CANADA REGION
- RECENT NAB SHOW CONFIRMS ATEME'S GROWING REPUTATION IN ITS INDUSTRY
- FINANCIAL OBJECTIVES CONFIRMED
| Revenue in € thousands | Q1 2023 | Q1 2024 | Change | Like-for-like[1] |
| EMEA | 6,443 | 8,914 | +38% | +38% |
| USA / Canada | 16,326 | 4,970 | -69% | -69% |
| Latin America | 1,395 | 1,867 | +34% | +34% |
| Asia Pacific | 3,162 | 1,978 | -37% | -37% |
| TOTAL | 27,326 | 17,729 | -35% | -35% |
Q1 figures are unaudited.
Paris, April 25, 2024 - Ateme (ISIN: FR0011992700) generated revenues of €17.7 million in the First Quarter of 2024, down 35% on both a reported and like-for-like basis. This reflects an exceptional base effect in the First Quarter of 2023, due to a large one-off project. Excluding this major project, revenue would have been virtually stable.
- EMEA revenues were up 38% at €8,9m;
- The USA/Canada region delivered revenues of €5,0m, down by 69%, reflecting the non-recurrence of the abovementioned contract;
- Latin America revenues were up 34% to €1,9m;
- Asia Pacific revenues were down 37% to €2,0m.
Monthly Recurring Revenues (MRR[2]) rose from €2,470K in January 2024 to €2,541K in April 2024, up by 71 K€, a performance in line with expectations for a First Quarter of the year.
The recent NAB Show confirmed Ateme's growing reputation
The NAB Show in Las Vegas, the largest trade show in the industry, welcomed fewer visitors
(-6%) reflecting the global macro-economic challenges. However, the footfall at Ateme's booth was up 34%, notably driven by strong customer interest in:
- Ateme's AI optimized OTT delivery, leading to gains in compression efficiency, and end-to-end optimizations. The "Audience-aware streaming" is a perfect example. It uses CDN analytics to control the allocation of encoding resources in real time and reduce the global traffic on the CDN.
- Growing visibility with the major cloud providers: Ateme received from GCP (Google Cloud Platform) the award of Technology Partner of the Year in media and entertainment at Google Next 2024, Google's major Cloud conference held just before NAB Show. Ateme's technology was demonstrated on the AWS (Amazon Web Services) booth at NAB, and the partnerships with Akamai and Microsoft Azure also bring significant opportunities, reinforcing Ateme's leadership in the cloud migration customer journey.
- Ateme's MV-HEVC (Multi View HEVC) encoding technology which enables a never-seen-before immersive 3D experience with the Apple Visio Pro. This was presented in a panel by Ateme's CTO Mickael Raulet alongside executives from Apple, Disney, and Dolby.
Financial objectives confirmed
Ateme is reinforcing its cooperation with tech giants Akamai, Apple, AWS, Google, and Microsoft. This recognition of Ateme's unique innovation capabilities is boosting our visibility in the industry and with it, commercial opportunities.
We are therefore confident in reiterating our financial objectives for the year as a whole:
- Revenue Growth;
- Strict cost control with a stable headcount;
- EBITDA[3] of €10 million
- Monthly Recurring Revenues of €3 million.
Michel Artières, Chairman and CEO of Ateme, commented: "The year-on-year comparison of the first Quarter is not relevant due to the unusual 2023 annual split of our revenues. 2024 has begun moderately but serious things really start after NAB in our industry. Our growing cooperation with tech giants is making an impact, and we confirm our objectives of growing significantly both our EBITDA and MRR in 2024."
Next events:
May 28th, 2024: Ateme Tech Day 2024
June 12th, 2024: Annual Shareholder's Meeting
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 580 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 2023, Ateme served close to 1,000 customers worldwide with revenues of €100 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 | Mathieu Omnes Tel: +33 (0)1 53 67 36 92 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).
[3] EBITDA: earnings before interest, tax, depreciation and amortisation. Underlying EBITDA equals Group pre-tax profit before deduction of interest, depreciation, amortisation and impairment charges on non-current assets, and staff share-based payments, but after impairment of inventories and trade receivables. It shows profit generated by business activities regardless of financing conditions, tax constraints and the upgrading of operating assets. Non-recurring expenses (one-off, unusual or infrequent items) are excluded.
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