|By PR Newswire||
|March 28, 2014 08:00 AM EDT||
LOS ANGELES, March 28, 2014 /PRNewswire/ -- Mandalay Digital Group, Inc. (Nasdaq: MNDL), a leading provider of mobile technology solutions, today summarized its fiscal 2015 guidance announced on a conference call and webcast on March 26, 2014, including anticipated 80% to 100% revenue growth over fiscal 2014.
Fiscal 2015 Outlook Summary
- Expects revenue in the range of $46 million to $50 million for fiscal 2015, ending March 31, 2015.
- Revenue guidance excludes recently divested non-core subsidiary; Guidance does not take into account any potential strategic acquisition activity that may be conducted.
- Forecasts gross margin to be 50-plus percent, a substantial increase from prior margins.
- Anticipates being Adjusted EBITDA* positive for full second fiscal quarter ending September 30, 2014.
- Anticipates launching the company's DT Ignite™ product in numerous emerging markets, including India, Russia and the Philippines in the next 90 days.
- Increases projections for DT Ignite installs to 12 million devices by this time next year, up 20 percent from projections made by the company in February. The company expects the ramp in DT Ignite to begin this summer and continue through the remainder of the fiscal year.
- Confirms signing numerous new advertising network partners and direct advertisers such as, Millennial Media, Appia, App Lift, Mobile Fuse, Taptica, Grab Games, GSN, Kaboom, vServ, and PokerStars.
*Adjusted EBITDA is a non-GAAP financial measure that excludes certain expenses. For a definition of Mandalay Digital's use of non-GAAP financial measures, see the section titled "Use of Non-GAAP Financial Measures" below.
Fiscal 2014 Guidance Summary
- Reaffirms it previously issued revenue guidance for fiscal 2014, including revenue in the range of $25 million to $27 million (as updated in February to adjust for the Twistbox disposition), at the higher end of the range excluding the impact of foreign currency and at the lower end of the range including the foreign currency impact.
"Mandalay's business prospects remain very strong, with increasing customer demand and a rich pipeline," said Peter Adderton, CEO of Mandalay Digital. "Our cost per install, or CPI, advertising model, and content search and discovery products, are driving our future growth, and I am excited to see our products now being embraced by many global carriers.
"We are actively seeking opportunities to expand our reach into global carriers and enhance our traction in the fast growing CPI arena, while complementing our existing technologies," Adderton said. "We have strong balance sheet to quickly take advantage of these M&A opportunities from a position of strength to fast-track our growth."
Conference Call Replay Information
A replay of the conference call will be available until 11:59 pm ET on April 2, 2014, and can be accessed by dialing 800-406-7325 in the United States or 303-590-3030 from international locations, conference ID 4674457. An audio webcast is available at www.mandalaydigital.com, where it will be archived for one year. A transcript of the call is also available at the company's website.
About Mandalay Digital Group
Mandalay Digital Group, Inc., through its wholly owned subsidiary, Digital Turbine, provides mobile solutions for wireless carriers globally to enable them to better monetize mobile content. The Company's products include mobile application management through DT Ignite, user experience and discovery through DT IQ, application stores and content through DT Marketplace, and content management and mobile payments through DT Pay. With global headquarters in Los Angeles, and offices throughout the U.S., Asia Pacific and EMEA, Mandalay Digital's solutions are used by more than 31 million consumers each month across more than 20 global operators. For additional information, visit www.mandalaydigital.com.
Use of Non-GAAP Financial Measures
Adjusted EBITDA is calculated as GAAP net income (loss) excluding the following cash and non-cash expenses: interest expense, foreign transaction gains (losses), debt financing and non-cash related expenses, debt discount and non-cash debt settlement expense, gain or loss on extinguishment of debt, income taxes, asset impairment charges, depreciation and amortization, stock-based compensation expense, change in fair value of derivatives, and accruals for one-time and discretionary bonuses. Because Adjusted EBITDA is a non-GAAP measure that does not have a standardized meaning, it may not be comparable to similar measures presented by other companies. Readers are cautioned that Adjusted EBITDA should not be construed as an alternative to net income (loss) determined in accordance with U.S. GAAP as an indicator of performance, which is the most comparable measure under GAAP. Adjusted EBITDA is used by management as an internal measure of profitability. The company has included Adjusted EBITDA because it believes that this measure is used by certain investors to assess the company's financial performance before non-cash charges and certain costs that the company does not believe are reflective of its underlying business. A reconciliation of Adjusted EBITDA to U.S. GAAP net income (loss) is expected to be included in the press release announcing the results of Mandalay Digital's fiscal year ending March 31, 2014, however such reconciliation to future net income (loss) is not currently available without unreasonable effort. The information that is unavailable is primarily asset impairment and expenses related to stock-based compensation. It is probable that when such amounts are available they will result in a significant net loss for the fiscal year ending March 31, 2014 notwithstanding the company's expected Adjusted EBITDA results.
Statements in this news release concerning future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events, including statements concerning Mandalay's Digital's expected fiscal 2014 and 2015 revenues, Adjusted EBITDA, gross margins, launch markets and installation projections for DT Ignite, strength of balance sheet to complete acquisitions, foreign exchange impact, prospects, customer demand, CPI, business pipeline and future growth are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements. These factors include the inherent and deal specific challenges in converting discussions with carriers and other business partners into actual contractual relationships, product acceptance of a new product such as DT Ignite in a competitive marketplace, the potential for unforeseen or underestimated cash requirements or liabilities, risks intrinsic to dispositions (like the Twistbox disposition) such as successor liability claims, the impact of currency exchange rate fluctuations on the company's reported GAAP financial statements, the company's ability as a smaller company to manage international operations, its ability given the company's limited resources to identify and consummate acquisitions, varying and often unpredictable levels of orders, the challenges inherent in technology development necessary to maintain the company's competitive advantage such as adherence to release schedules and the costs and time required for finalization and gaining market acceptance of new products, changes in economic conditions and market demand, rapid and complex changes occurring in the mobile marketplace, pricing and other activities by competitors, and other risks including those described from time to time in Mandalay Digital Group's filings on Forms 10-K and 10-Q with the Securities and Exchange Commission (SEC), press releases and other communications.
For more information, contact:
SOURCE Mandalay Digital Group, Inc.
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
Jan. 24, 2017 08:45 AM EST Reads: 5,087
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Jan. 24, 2017 08:30 AM EST Reads: 2,005
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2017' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great t...
Jan. 24, 2017 08:15 AM EST Reads: 2,505
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Jan. 24, 2017 07:45 AM EST Reads: 3,921
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discussed how a new approach is neces...
Jan. 24, 2017 07:45 AM EST Reads: 4,558
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Jan. 24, 2017 06:45 AM EST Reads: 6,905
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Jan. 24, 2017 06:45 AM EST Reads: 5,768
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
Jan. 24, 2017 06:45 AM EST Reads: 3,633
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Jan. 24, 2017 06:30 AM EST Reads: 3,660
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Jan. 24, 2017 05:00 AM EST Reads: 3,113
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Jan. 24, 2017 04:00 AM EST Reads: 6,698
While many government agencies have embraced the idea of employing cloud computing as a tool for increasing the efficiency and flexibility of IT, many still struggle with large scale adoption. The challenge is mainly attributed to the federated structure of these agencies as well as the immaturity of brokerage and governance tools and models. Initiatives like FedRAMP are a great first step toward solving many of these challenges but there are a lot of unknowns that are yet to be tackled. In hi...
Jan. 24, 2017 02:45 AM EST Reads: 3,953
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Jan. 24, 2017 02:30 AM EST Reads: 4,278
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Jan. 24, 2017 02:00 AM EST Reads: 1,957
"Splunk basically takes machine data and we make it usable, valuable and accessible for everyone. The way that plays in DevOps is - we need to make data-driven decisions to delivering applications," explained Andi Mann, Chief Technology Advocate at Splunk and @DevOpsSummit Conference Chair, in this SYS-CON.tv interview at @DevOpsSummit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 24, 2017 01:45 AM EST Reads: 2,272
"Logz.io is a log analytics platform. We offer the ELK stack, which is the most common log analytics platform in the world. We offer it as a cloud service," explained Tomer Levy, co-founder and CEO of Logz.io, in this SYS-CON.tv interview at DevOps Summit, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 24, 2017 01:15 AM EST Reads: 6,470
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Jan. 24, 2017 12:30 AM EST Reads: 5,132
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 24, 2017 12:30 AM EST Reads: 2,391
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Jan. 24, 2017 12:30 AM EST Reads: 6,447
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Jan. 24, 2017 12:15 AM EST Reads: 4,789