Rubicon Project, the ad marketplace, has just released positive Q1 2016 financial results, driven by the strength of its mobile exchange. The company grew overall revenue by 26% year-on-year. First quarter non-GAAP net revenue jumped 71% to $63.6m the year over, whilst GAAP revenue climbed 86% to $69.2m. EPITDA grew 269% to $15.5m.
Rubicon Project releases Q1 2016 results
Frank Addante, CEO and Founder, Rubicon Project, says:
“I am proud of our record setting execution in Q1 accentuated by another profitable quarter and record first quarter results in non-GAAP net revenue, non-GAAP EPS and Adjusted EBITDA. Our differentiated and growing market position has well positioned Rubicon Project for long-term growth as we continue to engineer the world’s highest quality advertising marketplace, drive strong adoption of what is now the third largest mobile exchange in the world, develop the next generation video and orders marketplace and continue to deepen relationships with the premier content creators, application developers, brands and advertisers who rely upon our technology to connect with one billion people around the world.”
Rubicon Project did reveal that 30% of the company’s business is now within mobile and 70% in desktop. As mobile marketing grow dramatically, the firm may need to adjust to focus more strongly on mobile.