Third quarter of 2022
- Quarterly revenue increased 2% sequentially. Ad revenue grew well above the market, 5% sequentially and driven by the company’s programmatic platform and broad network
- GAAP net loss of $7.2 million, down $36.2 million sequentially, primarily due to lower operating expenses
- Adjusted EBITDA of $10.0 million, reaching the high end of guidance due to strategic focus on delivering higher-margin technology solutions to customers
- The new capital structure, anchored by committed commitments to raise $105 million, allows the company to redeem convertible debentures without diluting shareholders
Quotient Technology Inc. QUOTEa leading digital media and advertising technology company, today announced financial results for the third quarter ended September 30, 2022.
“We were pleased with the outperformance of our advertising business during the quarter as we increased category revenue five percent sequentially against a broader market decline. We believe this is clear evidence that we are gaining market share,” said Matt Krepsik, Quotient CEO. “We are also proud of our ability to deliver adjusted EBITDA of $10.0 million and near-breakeven operating cash flow. This has been driven by optimizing our cost structure as well as our focus on higher value products, positioning us as the technology platform and network to enable the delivery of digital promotions to the retail and CPG industries and consumers.
“In addition to our operational performance, we have made binding commitments…
