Networked television data collector Samba TV released details of its upcoming $ 75 million (£ 55.78m) Initial public offering (IPO) this week.
Although the company exists in a fast growing sector, its balance sheet is still red and could jeopardize the company’s leadership position going forward.
Via Samba TV
Samba TV is a San Francisco, California-based company that analyzes viewer data from connected TV (CTV) providers such as Sony, Philips and LG and provides customers with insights for action.
The 13-year-old company said in its prospectus, which it has filed with the Securities and Exchange Commission, it aims to help companies “overcome the challenges posed by this audience fragmentation” and provide on-demand streaming services.
What makes the company unique is that Samba integrates its data into the data sets of its customers “to provide them with the tools, analysis and flexibility they need to address relevant target groups and limit waste and inefficiencies,” says the prospectus .
For the nine months ended September 30, the company had sales of $ 82.8 million, compared to $ 67 million it made last year, the prospectus said.
In the past fiscal year, the company had sales of 106.8 million US dollars, compared to 84.9 million US dollars in fiscal 2019.
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Despite gross profits of $ 58.5 million, the company reported a net loss of $ 17.1 million in 2021, compared to a loss of $ 12.7 million.
One reason for the growing losses is that the company lost customers between 2019 and 2020. In 2019, Samba had 275 customers and, according to the prospectus, ended 2020 only 274.
To mitigate some of the losses, the company plans to use a portion of the proceeds from the IPO to strengthen its sales force and attract new accounts.
The company also hopes to expand its presence with its existing customers to generate more revenue in the future. For example, the company plans to “invest heavily” in research and development to expand its data collection, add new c -abilities to its products, and expand its market reach.
The company did not provide any information about the number of shares offered, the share price or the expected IPO.
Read more: German streaming guide JustWatch increases US presence by taking over competitor GoWatchIt
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