Comscore 4Q Revenue Falls 13%

Comscore on Thursday afternoon reported fourth quarter 2019 revenue of $95.2 million, a decrease of 13% from $109.3 million in the same quarter a year earlier.

Bill Livek, Comscore CEO and executive vice chairman, commented: “Our fourth-quarter results demonstrate that our turnaround plan is working. We are encouraged by our operating performance, particularly in syndicated digital which showed improvement in the quarter, and local TV.

“We will continue our focus on managing expenses while we shift our efforts towards revenue growth. Energy and enthusiasm from our customers accelerated in the last three months, and we are executing on our plan to deliver products that help our customers achieve better business outcomes.

“Today, we are also announcing a measurement agreement with Comcast that will greatly improve our direct measurement of television households across the U.S. It is a major step in our ongoing journey toward more precise measurement, helping us develop better products to serve our customers and drive revenue growth in the coming years,” Livek concluded.

4Q results broken down:

Ratings and Planning revenue was $66.8 million in the fourth quarter of 2019, compared to $74.8 million in the year-ago quarter. The decrease compared to the same period in the prior year was the result of a decline in revenue from syndicated digital products and national TV. This was partially offset by local TV revenue, which increased 35% from the year-ago quarter.

Analytics and Optimization revenue was $17.7 million in the fourth quarter of 2019, compared to $23.9 million in the year-ago quarter. The decrease was related to lower digital custom marketing solution sales and Lift revenue compared to the prior-year period. This decrease was offset, in part, by higher revenue from Activation products.

Movies Reporting and Analytics revenue was $10.7 million in the fourth quarter of 2019, compared to $10.6 million in the year-ago quarter.

Net loss for the fourth quarter of 2019 was $21.4 million, or $(0.31) per share, compared to a net loss of $27.2 million, or $(0.46) per share reported in the year-ago quarter.

For the fourth quarter of 2019, non-GAAP adjusted EBITDA was $5.5 million, compared to $6.3 million in the year-ago quarter. Adjusted EBITDA excludes stock-based compensation expense; impairment charges; settlement of certain litigation; investigation, litigation and audit-related expense; restructuring expense; change in fair value of financing derivatives, warrants liability and equity securities investment; and other items as presented in the accompanying tables.

Read the company’s report here.