SOURCE: rVue Holdings, Inc.

rVue Holdings, Inc. Logo

May 14, 2015 16:10 ET

rVue Reports First Quarter 2015 Financial Results

CHICAGO, IL--(Marketwired - May 14, 2015) - rVue Holdings, Inc. (OTCQB: RVUE), a premier advertising technology platform for digital place-based media, announced its financial results for the first quarter period ended March 31, 2015.

First Quarter Highlights

  • First quarter core revenue decreased 62.1% to $73,100 compared to $192,700 in the year-ago quarter due to three of rVue's larger accounts temporarily reducing spending in a seasonally slow first quarter.
  • Total revenue decreased 54.2% to $104,600 from $228,600 in the prior-year first quarter.
  • SG&A expenses increased 25.8% to $451,200 from $358,800 in the year-ago quarter. This increase was a result of incremental staffing, auditing and marketing costs. Total expenses decreased 2.4% year over year to $515,700 from $528,600.
  • Net loss for the first quarter was $(411,100), or less than one cent per share, compared to a net loss of $(300,000), or less than one cent per share, in the fourth quarter last year.

Mark Pacchini, President and CEO of rVue Holdings, Inc., commented, "rVue continues to expand its pipeline and increase the number of proposals delivered to decision makers, and we remain encouraged by the response. However, in a first quarter that is historically slow from a seasonal perspective, we had several of our larger accounts temporarily reduce spending, impacting our revenue and breaking our string of five straight quarters of sequential revenue improvements. We are confident growth will resume in the second quarter based on expanded sales efforts, continued media fragmentation, the ongoing shift of ad dollars from broadcast and cable to mobile, online and eventually digital place-based media. Increasingly, our clients are sharing with us the value of knowing their digital video messages are running in a certain time and place, not subject to lax viewability standards for online banners and pre-roll. With some of these clients the term 'location video' has more resonance than 'digital place-based media.'"

"Just last week, Google stated that 46% of the video ads running across the desktop and mobile web never had a chance to be seen, and of the unseen ads, 76% did not even appear on screen," continued Mr. Pacchini. "Every day, we are seeing that the issues surrounding online advertising, including viewability, bot generation, fraud, lack of accountability and poor metrics, should accelerate the shift to 'location video' and rVue. Location video ads can't be skipped."

Steve Schildwachter, rVue's Executive Vice President and Chief Marketing Officer, added, "rVue has also started working with existing media sales organizations to add digital place-based media to their portfolio of products. This increases our profile in channel-planning discussions. Simultaneously, our team continues to deliver a greater number of proposals than we did in the first quarter last year due to expanded sales efforts, growth from existing clients, and successful case studies. We are steadily building our pipeline and creating demand for digital place-based media, and its inherent advantages over legacy advertising channels."

Eric Kristoff, Chief Technology Officer and Executive Vice President Operations, added, "rVue continues to make progress in its efforts to deliver strategic media expertise at scale. We are building out our network intelligence, data collection and partnerships, and improving our technology platform, including adding several proprietary methods. This has significantly increased the rate of data acquisition and processing, increasing the value we add for our clients. Our team is also active in efforts to create and maintain standards and best practices for the industry. I am now co-chairing the DPAA's Media Operations Committee, together with a colleague from Omnicom Media Group."

Conference Call
Management will host a conference call to discuss the results at 4:30 p.m. ET, today, May 14, 2015.

Details are as follows:

About rVue
rVue Holdings, Inc. is an advertising technology company providing the digital distribution platform for the Digital Place-Based Advertising industry. The Company connects approximately one million digital screens across 190 networks delivering access to 250 million daily impressions in one simple platform. Backed by the industry's most intuitive and intelligent platform, rVue has the technology, data and expertise to connect brands and targeted consumers where and when it matters most. For more information, please visit http://www.rvue.com.

Forward Looking Statements
This press release contains "forward looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements contained in this press release that are not purely historical are forward-looking statements. Forward-looking statements give the Company's current expectations or forecasts of future events. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company's control, and could cause the Company's results to differ materially from those described. The Company is providing this information as of the date of this press release and does not undertake any obligation to update any forward looking statements contained in this press release as a result of new information, future events or otherwise. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Important factors that could cause such differences include, but are not limited to, the Risk Factors and other information set forth in the Company's Quarterly Report on Form 10-Q to be filed today and in our other filings with the Securities and Exchange Commission.

Contact Information

  • Company Contacts
    Mark Pacchini
    President and CEO
    312-361-3368