2nd QUARTER REVENUES UP 6%
REVENUES FOR THE 1st HALF DOWN 17%, REFLECTING STRONG Q1 2023 COMPARISON BASIS
| Revenue in € thousands | 2023 | 2024 | Change | Like-for-like[1] |
| Q1 | 27,326 | 17,729 | -35% | -35% |
| Q2 | 21,778 | 23,034 | +6% | +6% |
| H1 | 49,104 | 40,763 | -17% | -17% |
Q2 figures are unaudited.
| Revenue in € thousands | H1 2023 | H1 2024 | Change | Like-for-like1 |
| EMEA | 13,594 | 18,175 | +34% | +34% |
| USA / Canada | 25,534 | 9,859 | -61% | -61% |
| Latin America | 3,113 | 4,192 | +35% | +34% |
| Asia Pacific | 6,863 | 8,538 | +24% | +25% |
| TOTAL | 49,104 | 40,763 | -17% | -17% |
Data subject to limited review by ATEME's statutory auditors.
| Monthly Recurring Revenue (MRR) In € thousands | July 2023 | July 2024 |
| Monthly Recurring Revenue[2] | 2,453 | 2,600 |
Alternative performance indicator, not subject to ATEME's statutory auditors' review.
Paris, July 11, 2024 - Ateme (ISIN: FR0011992700) generated revenues of €23.0 million in the Second Quarter of 2024, up 6% year-on-year (same like-for-like).
For the First Half as a whole, revenues were down 17% year-on-year (same like-for-like). This reflects a strong base effect in the First Quarter 2023 when revenues rose 34% on a like-for-like basis.
- EMEA revenues were up 34% (same like-for-like) at €18.2 million. The region confirmed its position as the Group's largest market, representing 45% of revenues;
- The USA/Canada region generated revenues of €9.9 million, down 61% (same like-for-like), reflecting the above-mentioned base effect in the First Quarter 2023. The market in the US is facing headwinds because of a wave of consolidation in the content industry slowing down investment decisions. Nevertheless, overall yearly pipeline remains strong, and while recovery in the Second Quarter was limited, an acceleration is expected in the Second Half;
- Asia Pacific revenues continued robust growth, with an increase of 24% (25% like-for-like) to €8.5 million;
- Latin America revenues were up 35% (34% like-for-like) to €4.2 million, reflecting new commercial momentum.
Monthly Recurring Revenues (MRR[3]) were up by €59 K in the Second Quarter 2024 at €2.6 million, in line with the trend of the First Quarter.
New OTT wins
Over the last three months, Ateme continued to demonstrate the powerful combination of its product lines and was selected by several Tier1 players to support their OTT services:
- Indonesia's national public broadcasting organization, TVRI, for its transition to 4K UHD OTT streaming.
- Drei TV, a leading television service provider in Austria, to power its enhanced OTT streaming service.
- TV+, the new OTT Service of CANAL+.
Full press releases can be found on the following link: here.
Michel Artières, Chairman and CEO of Ateme, commented: "The unusual income profile for 2023, with an exceptional Q1 2023, and actual market headwinds in the US require us to progressively close the gap this year, and we will probably have to wait until the end of the year to return to positive growth territory.
All regions are delivering high growth performance in H1 2024, except the relative prudence of the US market puts this region in a challenging situation. While we believe this is a transition effect with no impact on our mid-term growth, we are working on reevaluating our objectives for the year when we publish our interim results for 2024. We consider this a temporary effect that won't impact our mid-term growth. However, we may need to reevaluate our 2024 objectives and to update them when we publish our interim results.
We are proud our technologies are at the core of the big sport event in Paris this summer."
Upcoming event:
September 26th, 2024: First Half 2024 Results
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 |
[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] 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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