https://www.businesswire.com/news/home/20180529006401/en/

BERLIN--(BUSINESS WIRE)--May 30, 2018--Fyber (FSE: FBEN), a leading advertising technology company, today announced the results for the first quarter of 2018, reporting a challenging start in the fiscal year with a decline in revenues but an improved EBITDA. Gross revenue showed a shortfall by 41% to €29.3 million (Q1 2017: €49.7 million). Net revenue margin increased to 34.8% (Q1 2017: 29.4%), resulting in a slower decline of net revenue by 30% to €10 million (Q1 2017: €14.6 million). The EBITDA improved to €-4.0 million (Q1 2017: €-5.1 million).

The revenue decrease can be attributed to three main developments. First, Fyber’s strategic decision to close down several traffic sources, as part of the ‘Keeping it Clean’ initiative launched last year has had a short-term adverse effect on revenue. Furthermore, Google’s ban of the charging screen ads format, previously a highly popular ad format especially in China, impacted the high growth anticipated in this region. Finally, the reorganization and merging of Fyber’s sales structure focusing heavily on training, account transitions and alignment reduced the output of the sales teams.