Comscore 4Q Revenue Down 5.5%

Comscore this morning reported fourth quarter 2020 results.

Revenue was $90.0 million compared to $95.2 million in the prior-year quarter, primarily from lower syndicated digital and movie revenue offset by increases in custom marketing solutions and Activation.

Ratings and Planning revenue was $63.6 million in the fourth quarter of 2020, compared to $66.8 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, partially offset by higher national and local TV revenue. While lower compared to the fourth quarter of 2019, syndicated digital was flat on a sequential basis. TV continued to experience higher revenue compared to the prior year as we continued to expand partnerships in 2020.

Analytics and Optimization revenue was $19.3 million in the fourth quarter of 2020, compared to $17.7 million in the year-ago quarter. The increase was related to higher revenue across products, including digital custom marketing solution sales and Lift. Activation also increased compared to the prior year as well as compared to prior quarters, which were impacted by the pandemic.

Movies Reporting and Analytics revenue was $7.1 million in the fourth quarter of 2020, compared to $10.7 million in the year-ago quarter. Revenue continues to be impacted by ongoing theater closures. The company said it expecta theater closures to continue affecting Movies revenue until the major theater chains reopen across the U.S. and abroad.

Expenses from cost of revenues, sales and marketing, research and development and general and administrative were $85.0 million compared to $95.9 million in the year-ago quarter. The decrease relates to a reduction in compensation expense due to lower headcount, as well as lower facility costs, professional fees and other general operating expenses. In the fourth quarter of 2020, the company recorded a $2.0 million one-time non-cash reduction to cost of revenues related to a revenue-share arrangement.

Net loss for the fourth quarter of 2020 was $13.2 million, or $(0.18) per share, compared to a net loss of $21.4 million, or $(0.31) per share reported in the year-ago quarter.

For the fourth quarter of 2020, non-GAAP adjusted EBITDA was $9.4 million, compared to $5.5 million in the year-ago quarter.

Read the company’s results here.