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  ATEME company press release from 05/05/2022

  05/05/2022 - 18:05

FIRST QUARTER 2022 REVENUES


  • REVENUES OF €19,8 MILLION, UP 34% YEAR-on-year and 28% like-for-like [i]
  • Raising current year financial objectives
  • launch of strategic advisory board
Consolidated data (€000s) Q1 2021(*) Q1
2022
Change
2022/2021
Change [1]
Like for like
IFRS
EMEA 6 150 6 070 -1% -2%
USA / Canada 5 290 7 259 +37% +28%
Latin America 1 725 2 089 +21% +14%
Asia Pacific 1 631 4 410 +170% +153%
TOTAL 14 796 19 828 +34% +28%

(*) Following the disposal of t he Enterprise business, financial statements have been prepared in accordance with the provision of IFRS 5 relating to discontinued operations

Q1 figures are unaudited.


Paris, May 5, 2022 - Ateme (ISIN: FR0011992700) generated revenues of €19.8 million in the First Quarter of 2022, up 34% year-on-year and by 28% on a like-for-like basis.

  • EMEA revenues were virtually stable at €6,070K, down 1% year on year and 2% like-for-like, off a tough comparison basis in Q1 2021 (up 77% year-on-year)
  • The USA/Canada region delivered revenues of €7,259K, up 37%, and by 28% like-for-like, making it the largest market at 37% of total revenues.
  • Latin America revenues were up 21% to €2,089K, and by 14% on a like-for like basis.
  • The Asia Pacific region delivered spectacular, 170%, growth (153% like-for-like) to €4,410K, with a significant contribution from most of the countries Ateme is operating in, including Australia, China, India, Korea, Malaysia, Singapore, and Vietnam.

Monthly Recurring Revenues (MRR) rose from €1,960K in January 2022 to €2,011K in April 2022. This rise is limited, as it was in Q1 2021, due to seasonal factors, the first quarter being the lowest quarter every year.


Trade shows are back

After a two-year break, the NAB Show - the largest trade show in the industry - resumed last week in Las Vegas. Although overall attendance stood at circa 60% of pre Covid level, traffic at the Ateme booth was robust at almost 90 %.

Ateme had the opportunity for the first time to demonstrate the potential of its Titan + Nea end-to-end solution for OTT delivery, eliciting strong interest from key existing and prospective US customers.

Key demonstrations included:

  • OTT low latency from the cloud, empowering streaming platforms to enhance the Quality of Experience for their subscribers;
  • Monetization thanks to Dynamic Ad Insertion in both OTT and NextGenTV, the latest terrestrial standard for 400 million people across the US;
  • 5G streaming for in-stadium spectator engagement;
  • Reduced carbon footprint of the end-to-end video chain thanks to innovation in compression, streaming and delivery solutions.


First Strategic Advisory Board meeting

Ateme took the opportunity to hold the first meeting of its newly appointed Strategic Advisory Board, including executives from Comcast, Discovery, Liberty Global, Microsoft Azure and Pearl TV, and further members to be announced in the coming months.

The Strategic Advisory Board serves as an external resource to Ateme's executive leadership and Board of Directors, helping the company address the transformation of the industry by reflecting on how content is and will be delivered and consumed, in a context where radical changes are expected as the boundaries between video delivery, gaming and social networks continue to merge.


Raising current year financial objectives

The strong end to 2021, solid growth performance in Q1 and the traction from the NAB show led us to revise upwards our financial objectives. We now expect revenue growth of 15-20% (like for like) for the current year (versus 10-15% previously) and an EBITDA close to €10 million (versus €5-10 million previously). We maintain our objective of €3 million in Monthly Recurring Revenues in 2024.

Michel Artières, Chairman and CEO of Ateme, commented: “2022 has begun with a flying start. 18 months after the acquisition of Anevia, the demonstration of the powerful combination of our end-to-end video delivery technologies has started and we are confident in exceeding our previous short-term objectives. Looking forward, we are preparing Ateme's future growth path and are excited by the launch of our Strategic Advisory Board.”


Upcoming events:

July 12th, 2022: Second Quarter 2022 Revenues



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 490 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 2021, Ateme served close to 1,000 customers worldwide with revenues of €79 million, of which 93% 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 
President and CEO
Olivier Lambert
Tel: +33 (0)4 72 18 04 91
[email protected]
Anne-Catherine Bonjour
Tel: +33 (0)1 53 67 36 93
[email protected]

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


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  Original Source: ATEME