Millennial Posts $20m Loss for Q1 2015

millenialmediaMobile ad firm Millennial Media has reported a net loss of $19.8m (£13m) for Q1 2015, compared to a loss of $12.9m for the same quarter in 2014.

Revenues were down 13 per cent year-on-year, to $63.2m – of which, $53.8m came from the company’s managed media business and $9.4m from its platform business.

“Millennial Media is entering its second quarter with a strong foundation. Q1 results exceeded guidance across the board and we’re seeing early success through our Nexage integration,” said Michael Barrett, President & CEO of Millennial Media. “Combined with solid revenues from our managed media business, the pieces of our owned and operated programmatic exchange are fully assembled and we’re executing on our full-stack, independent marketplace vision.”

During the quarter, Millennial Media reached over 670m monthly unique users globally, 175m of them in the US.