Comscore narrowed its loss in the third quarter and reported its first increase in revenue since the fourth quarter of 2019.
The company had a net loss of $1.9 million, or 2 cents a share, in the third quarter, down from an $11.1 million loss, or 16 cents a share a year ago. Without preferred stock dividend payments, net income was $1.9 million.
Revenue increased 5% to $92.5 million.
Also: Comscore Posts $18.5 Million Net Loss for Second Quarter
Comscore is one of a number of companies that sees opportunities as media companies and advertisers seek alternatives to Nielsen. Comscore also said that its local and national television measurement products are officially being audited by the Media Rating Council, a process that could lead to them being accredited.
The company rebuilt its finances and wiped out its debt in January when Charter Communications, Qurate Retail and Cerberus made a $204 million investment in Comscore.
Comscore reaffirmed its expectation that revenue would be up between 3% and 5% for the full year, with an EBITDA margin of between 6% and 8%.
In the third quarter, rating and planning revenue was $62.1 million, down 1%. The company said syndicated digital and cross-platform audience measurement revenue was down, but TV revenue was up.
Analytics and optimization revenue was up 29% to $22.5 million. Activation revenue was up 38% from a year ago.
"This was a strong quarter for Comscore as we reported our highest revenue number in seven quarters and our highest revenue growth rates in eleven quarters. We also reported adjusted EBITDA at a level we haven't seen in many years. There are significant changes taking place in media measurement and Comscore is front and center,” said CEO Bill Livek.
“We are listening to our customers and making the investments necessary to provide the next generation of measurement tools while continuing to deliver stable and reliable reporting of today's viewing audiences,” Livek said. “There is a tremendous opportunity for Comscore as it positions itself as the new currency, which we expect will continue to drive revenue growth in the fourth quarter of 2021 and into 2022.”
