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DMS is a top provider of digital performance advertising solutions, specializing in connecting consumers and advertisers in various industries such as auto, home, health, and life insurance. Recently, DMS was awarded the AFFY Award for Lead Generation Company of the Year 2023, highlighting its commitment to innovation and excellence in the performance advertising and marketing industry.
The company's first-party data asset, proprietary advertising technology, media distribution, and data-driven processes enable clients to de-risk their advertising spend and expand their customer bases. DMS continues to set high benchmarks for performance marketing excellence and is dedicated to delivering durable, sustainable, and scalable advertising solutions.
Digital Media Solutions (DMS) announced that the U.S. Bankruptcy Court has approved the sale of its core business assets to existing lenders and the sale of its ClickDealer subsidiaries to iMonMedia. The transactions, following a competitive auction process, are expected to close in Q4 2024. CEO Joe Marinucci stated these value-maximizing transactions will provide a stronger financial foundation and enable continued growth. The company continues to operate normally across all businesses during this transition period, maintaining service to clients and vendors.
Digital Media Solutions (DMS) has entered an asset purchase agreement with existing lenders and commenced voluntary Chapter 11 proceedings to facilitate a court-supervised sale process. The company secured a $122 million financing commitment to support operations during this transition. DMS aims to strengthen its financial foundation and position itself for continued growth.
Key points:
- DMS will continue normal operations, serving customers with its digital performance advertising solutions
- The process is expected to complete in Q4 2024
- ClickDealer subsidiaries are included in the proposed sale but not in Chapter 11 proceedings
- The company intends to pay vendors and suppliers in full under normal terms for post-filing services
Digital Media Solutions (DMS) announces that Matt Goodman, Co-Founder & Chief Information Officer, has been named a 2024 Tampa Titan 100 honoree. This prestigious award recognizes Goodman as one of Tampa's top C-level executives, celebrating his leadership, vision, and influence in the digital advertising industry. The Titan 100 award, presented by Enavate, highlights executives who have demonstrated outstanding achievements and positive impact on the business landscape.
Goodman oversees DMS's technology infrastructure and cybersecurity measures. Previously named 2018 CIO of the Year by the Tampa Bay Business Journal, he has been important in driving the company's technological advancements. DMS CEO Joe Marinucci praised Goodman's hard work and vision, emphasizing how the company's people set it apart in the industry.
Digital Media Solutions (DMS) reported Q1 2024 financial results, showing a net revenue of $70.7 million, down 21.7% compared to Q1 2023. The gross margin was 20.2%, a decline of 4.5 percentage points (PPTS), with a Variable Marketing Margin (VMM) of 23.7%, down 6.1 PPTS. Net loss for the quarter was $26.3 million, compared to a net loss of $20.7 million in Q1 2023. Adjusted EBITDA was $(4.3) million versus $3.4 million, and EPS was $(5.96) compared to $(4.67) last year. The Marketplace Solutions segment saw a 4.1% revenue increase to $38.8 million, while Brand Direct Solutions and Technology Solutions experienced declines. Total operating expenses decreased by 20% to $26.1 million, and the company ended the quarter with $14.2 million in cash and $301.9 million in total debt.
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