AdTheorent Holding Company, Inc.

adtheorent.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2024 10-Q, filed May 2, 2024. Its latest SEC filing is a 15-12G from Jul 1, 2024.

The sections below describe the company as of the FY2023 annual report.

What Did They Do?

Ran a programmatic digital advertising platform that used machine learning to target campaigns for brands and advertising agencies.

How Did They Make Money?

Brands and agencies paid for managed advertising as ads were delivered; self-service customers paid platform fees when they made purchases through the platform, with typical payment terms of net 30 to net 60 days.

FY2023 revenue

Who Were Their Customers?

Brands bought directly, while advertising agencies also bought campaigns on behalf of their clients.

Customers above 10% of revenue, FY2023

of revenue from one customer

Did Revenues Turn Into Profits?

Yes. It kept less than a cent of every revenue dollar as net income in FY2023 and turned 2 cents into free cash flow.

Operating income, FY2023

−2% of revenue

▼ Now a loss vs FY2022 ($1.3M, 1%)

Net income, FY2023

0% of revenue

▼ −100% vs FY2022 ($29.3M, 18%)

Free cash flow, FY2023

2% of revenue

▼ −79% vs FY2022 ($13.6M, 8%)

How Were They Changing?

Since the FY2023 annual report

Latest quarter: Q1 FY2024, the three months to Mar 31, 2024

Revenue: ▲ +7%; vs $32.7M in Q1 FY2023
Net income: ▲ +89% (Loss); vs −$5.2M in Q1 FY2023

Jun 21, 2024 Cadent completed its acquisition of AdTheorent AdTheorent became a wholly owned subsidiary, and its stock was delisted from Nasdaq.

Who Did They Compete With?

Competes with Trade Desk, Viant Technology, Google, and Amazon

Comments