NEW YORK–(BUSINESS WIRE)–The Area Group Holdings, Inc. (NYSE American: AREN) (the “Firm”) or “The Area Group”), a tech-powered media firm with 40 owned and operated properties and greater than 200 manufacturers together with Sports activities Illustrated, TheStreet, Inc. (“TheStreet”), Parade Media (“Parade”), and HubPages, Inc. (“HubPages”) working on a single know-how platform, right now introduced sure preliminary unaudited monetary outcomes for the three months ended March 31, 2022. The preliminary unaudited monetary outcomes don’t embrace any contribution from AMG/Parade, which was acquired subsequent to the primary quarter.
2022 Unaudited First Quarter Preliminary Monetary Outcomes
- Income anticipated to be roughly $47 million, a rise of roughly $14 million, or 44%, in comparison with the primary quarter of 2021, pushed by a greater than doubling of digital promoting income.
- Because of the rise in income, gross revenue greater than tripled to roughly $20 million for the primary quarter of 2022 from $5 million reported within the prior yr quarter.
Administration Commentary
Chairman and Chief Government Officer of The Area Group Ross Levinsohn stated, “Our anticipated monetary outcomes for the primary quarter proceed to validate our platform and our technique, enabling us to exceed expectations and drive greater income and substantial viewers development. Our first quarter, usually the slowest from a seasonal perspective, will considerably exceed analyst expectations,” he stated. “We’re persevering with to develop and generate efficiencies, and develop our working margins. Through the fourth quarter of 2021 we reached an inflection level in our development and now for each new digital greenback of income that the Firm generates, greater than 50% contributes to our gross revenue. The investments we’ve remodeled the previous eighteen months have now positioned our Firm to develop with none additional substantial capital outlays. We proceed to bolster our content material, develop and leverage model recognition, and exploit sturdy viewers improvement capabilities throughout a unified backend system. Our anticipated monetary outcomes from the primary quarter serves as highly effective validation of our technique, and we imagine 2022 will likely be a yr of great development.”
These preliminary outcomes are primarily based on present expectations and could also be adjusted, because of, amongst different issues, completion of customary quarter-end shut assessment procedures and monetary assessment. We anticipate to subject full monetary outcomes for the primary quarter of 2022 on Could 4, 2022.
Convention Name
Ross Levinsohn, The Area Group’s Chief Government Officer, and Doug Smith, Chief Monetary Officer, will host a convention name and stay webcast to assessment the quarterly outcomes and supply a company replace on Wednesday, Could 4, 2022 at 4:30 p.m. ET. To entry the decision, please dial 888-506-0062 (toll free) or 973-528-0011 and if requested, reference convention ID 388900. The convention name can even be webcast stay on the Investor Relations part of The Area Group’s web site at https://traders.thearenagroup.internet/news-and-events/occasions.
Following the conclusion of the stay name, a replay of the webcast will likely be obtainable on the Investor Relations part of the Firm’s web site for at the least 90 days. A telephonic replay of the convention name can even be obtainable from 7 p.m. ET on Could 4, 2022 till 11:59 p.m. ET on Could 18, 2022 by dialing 877-481-4010 (United States) or 919-882-2331 (worldwide) and utilizing the passcode 45346.
About The Area Group
The Area Group creates sturdy digital locations that delight customers with highly effective journalism and information concerning the issues they love – their favourite sports activities groups, recommendation on investing, the within scoop on private finance, and the most recent on way of life necessities. With highly effective know-how, editorial experience, knowledge administration, and advertising and marketing savvy, the transformative firm permits manufacturers like Sports activities Illustrated and TheStreet to ship extremely related content material and experiences that buyers love. To study extra, go to www.thearenagroup.internet.
Ahead Wanting Statements
This press launch consists of statements that represent forward-looking statements. Ahead-looking statements could also be recognized by way of phrases comparable to “forecast,” “steering,” “plan,” “estimate,” “will,” “would,” “undertaking,” “keep,” “intend,” “anticipate,” “anticipate,” “prospect,” “technique,” “future,” “doubtless,” “could,” “ought to,” “imagine,” “proceed,” “alternative,” “potential,” and different comparable expressions that predict or point out future occasions or tendencies or that aren’t statements of historic issues, and embrace, for instance, statements associated to the anticipated results on the Firm’s enterprise from the COVID-19 pandemic. These forward-looking statements are primarily based on data obtainable on the time the statements are made and/or administration’s good religion perception as of that point with respect to future occasions, and are topic to dangers and uncertainties that would trigger precise outcomes to vary materially from these expressed in or prompt by the forward-looking statements. Elements that would trigger or contribute to such variations embrace, however will not be restricted to, the period and scope of the COVID-19 pandemic and impression on the demand for the Firm merchandise; the flexibility of the Firm to develop its verticals; the Firm’s skill to develop its subscribers; the Firm’s skill to develop its promoting income; basic financial uncertainty in key international markets and a worsening of world financial situations or low ranges of financial development; the consequences of steps that the Firm might take to cut back working prices; the lack of the Firm to maintain worthwhile gross sales development; circumstances or developments that will make the Firm unable to implement or notice the anticipated advantages, or that will enhance the prices, of its present and deliberate enterprise initiatives; and people components detailed by The Area Group Holdings, Inc. in its public filings with the Securities and Change Fee, together with its Annual Report on Kind 10-Okay and Quarterly Reviews on Kind 10-Q. Ought to a number of of those dangers, uncertainties, or details materialize, or ought to underlying assumptions show incorrect, precise outcomes could differ materially from these indicated or anticipated by the forward-looking statements contained herein. Accordingly, you might be cautioned to not place undue reliance on these forward-looking statements, which communicate solely as of the date they’re made. Ahead-looking statements shouldn’t be learn as a assure of future efficiency or outcomes and won’t essentially be correct indications of the instances at, or by, which such efficiency or outcomes will likely be achieved. Besides as required underneath the federal securities legal guidelines and the foundations and laws of the Securities and Change Fee, we don’t have any intention or obligation to replace publicly any forward-looking statements, whether or not because of new data, future occasions, or in any other case.
