Propel Media Reports $34.5 Million of Adjusted EBITDA for 2017, up 57% over 2016
Summary
“We believe that DeepIntent’s artificial intelligence-based platform will give it a meaningful competitive advantage by allowing it to deliver contextually relevant audiences in a brand safe environment to its advertisers.”Further details concerning the results of operations for the year ended December 31, 2017 is set forth in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 29, 2018.Headquartered in Irvine, California, Propel Media is distinguished by its ability to deliver consistent results and its commitment to providing the highest level of client services to its partners.Adjusted EBITDA, which is based upon the adjusted EBITDA which we report to our lenders, is a key measurement monitored by management, and is determined by taking net (loss) income (the nearest GAAP measure) and adding interest, taxes, depreciation, amortization, impairment charges, stock based compensation, bank fees, losses from extraordinary, unusual or nonrecurring items, including board of director fees paid during the year ended December 31, 2017, noncash items, merger and other onetime expenses and severance.We believe that this non-GAAP measure, viewed in addition to and not in lieu of our reported GAAP results, provides useful information to investors by providing a more focused measure of operating results, enhances the overall understanding of past financial performance and future prospects, and allows for greater transparency with respect to key metrics used by management in its financial and operational decision making.