Tremor International Ltd. (TRMR) stock prices were up by 2.69% as of the market closing on August 18th, 2021. This brought the price per share up to USD$19.88 early on in the trading day. Subsequent premarket fluctuations have seen the stock rise by 4.38%, bringing it up to USD$20.75.
TRMR Stock’s Capital Generation
June 22nd 2021 saw the company announced raising USD$128.6 million in gross proceeds. The funds were generated from the sale of the company’s American Depositary Shares (ADSs) on the NASDAQ Global Market. TRMR stock also generated an additional USD$19.3 million through the exercising of an over-allotment option by the underwriters of the offering. The ADSs began trading on the NASDAQ Global Market under the ticker symbol TRMR.
Solid Liquidity Position
The NASDAQ listing is expected to provide TRMR stock with greater visibility among potential and current consumers. The company plans to allocate the net proceeds generated from the offering towards working capital, general corporate purposes. The funds are also expected to be allocated towards driving incremental growth, including potential acquisitions in the future. As of June 30th 2021, the company reported cash and cash equivalents in the amount of USD$275.5 million, with no debt outstanding.
Omnichannel Solution
TRMR stock reported expanding its Omnichannel solution, which serves to empower advertisers to complement their video campaigns with premium listening environments through programmatic audio. The solution allows the ability to run standard or tag-based audio campaigns with supply partners such as AdsWizz, Pandora, and Spotify. The solution also facilitates the ability to target smart speakers like Amazon Echo and Google Home through connected device targeting.
TRMR Stock’s Recent Developments
The second quarter of fiscal 2021 saw TRMR stock launch new partnerships with Tegna, Rakuten Viki, and A&E. the quarter also saw the company announce the completion of support for LiveRamp’s IdentityLink solution and Unified ID 2.0 in the Exchange. This serves to facilitate industry initiatives to support a cookie-less world. The company launched in-house TV retargeting over the quarter, as well as a measurement solution. This solution provides brand advertisers the ability to reach and engage TV viewing audiences at scale with Data-Driven Video Creative (DDC).
Future Outlook for TRMR Stock
The company reported a strong quarter, with TRMR stock keen to maintain the momentum of its trajectory of success. The company is executing their business strategy by leveraging the resources at their disposal. Investors are hopeful that this will results in consistent gains in shareholder value over the long term.