MNTN, Inc. Canaccord Genuity's 46th Annual Growth Conference
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All right. We're going to get started. Thank you all for joining us. I'm Matt Weber. I cover MNTN here at Canaccord. It's my pleasure to introduce Mark Douglas, MNTN's founder, President, and CEO. Mark, thank you so much for joining us today.
Thanks for inviting me. So maybe to start things off, for those in the audience who are maybe a little bit newer to your story, could you give us an overview of your platform, the Performance TV space more broadly, and where you sit within the digital advertising ecosystem?
Sure. I'll start with the Performance TV space. MNTN, we created the term "Performance TV," we created. The idea there was with the advent of streaming television, it created the opportunity to bring full digital advertising, and in particular, direct response performance advertising to television.
All small, mid-size brands that are prevalent on paid search and paid social, email marketing, we're giving them the opportunity, and compelling opportunity, to now find their next customers, leveraging the power of television.
Very cool. You just reported Q2 results.
Yes. Strong quarter. I think revenue was up 20%, adjusted EBITDA up 50% year-over-year.
Could you just walk us through some of the key operating highlights there?
Yeah. I think that's continued adoption of the platform. We also brought on 40% new customers in the core, 40% year-over-year growth in terms of number of customers. We're seeing a lot of that's coming from small business as we continue to grow our mid-market segment of the business.
The combination, it contributed to the top-line growth and the continued expansion in terms of EBITDA and adjusted EBITDA.
Got it. Related to that, you have talked about the Performance TV market moving from early adopter to mainstream. What are the clearest signs that you are seeing that in the customer base?
Yeah, it is actually really simple, is we have to do less evangelizing. We just have more companies coming inbound at the mid-market size who are increasingly aware of the concept of Performance TV.
Also, one of the things we reported is we launched the small business edition of Platform Express at the beginning of April, and signed up 7,000 new Yeah companies on that, and the starting campaigns.
Then hundreds of those went live with pay that campaign.
Yeah. The combination that we see as indication of the market going mainstream.
Going from their early adopter phase and starting to move into the adoption phase.
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