Bright Mountain Media Q2 net loss narrows on cost management - BMTM News | RalliesBright Mountain Media Q2 net loss narrows on cost management
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BMTM• Outlook
- Company did not provide specific guidance for the current quarter or full year in the press release
Overview
- Digital advertising platform's Q2 revenue fell 12% yr/yr amid portfolio optimization and market conditions
- Net loss for Q2 improved 22% yr/yr, driven by cost management and operating efficiency
- Q2 adjusted EBITDA loss narrowed 13% yr/yr
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Revenue | | $13.63 mln | |
| Q2 Net Loss | | $3.20 mln | |
| Q2 Adjusted EBITDA | | -$190,000 | |
| Q2 Operating Income | | -$91,000 | |
| Q2 Pretax Loss | | $3.20 mln | |
Result drivers
- Portfolio optimization - Co said revenue decline reflected impact of portfolio optimization and market conditions
- Cost management - Improved net loss attributed to disciplined cost management and operating efficiency, per CEO Matthew Drinkwater
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