Comscore, which has been losing money since problems cropped up in its financial reports five years ago, turned in positive net income of $29 million for the fourth quarter.
The net income compared to a net loss of $13.2 million a year ago. After paying dividends to preferred stockholders, the company still lost 1 cent per common share, an improvement from an 18 cent a share loss a year ago.
Revenue was $96.5 million, up 7%.
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Looking forward, the company said it expected revenue to increase by mid to high single digits in 2022, driven by growth in TV and activation and continued improvement in the movies business. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), or EBITDA margins for 2022, will be consistent with 2021, Comscore said.
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“I am excited to report that in the fourth quarter our teams delivered Comscore’s highest quarterly revenue number in the last nine quarters, as we saw broad adoption across key areas of our product offering,“ said CEO Bill Livek, who announced plans to retire. “This includes our Activation business, where we delivered 43% revenue growth year over year. The marketplaces we are operating in are evolving rapidly, and Comscore remains well-positioned, with our robust suite of Census-based assets, to capitalize on the needs of our clients. I am proud of our team’s execution, and we are excited to unlock the opportunity that is ahead of us in 2022.” ■
