Digital Media Solutions Inc. (NASDAQ: (DMS) stock surged by 1.58% at the last close while the DMS stock price gained by 1.84% in the after-hours trading session. Digital Media Solutions is a major provider of tech digital performance marketing solutions that link customers and marketers in a variety of consumer sectors, including auto, home, health, and life insurance.
DMS stock’ Unaudited Financial Updates
Digital Media Solutions has reported its unaudited third-quarter 2021 financial results however the company will announce its third-quarter results on November 9, 2021.
- The GAAP revenue for the third quarter could be between $106.5 million to $107.5 million.
- The adjusted revenue will be around $111 to $112 million for Q3 of 2021.
- The net income is anticipated to be $5 to $6 million.
- And lastly, the adjusted EBTIDA is expected as $10 million to $11 million.
Also, the company mentioned that they expect their cost reduction initiative to be around $8.4 million of the yearly savings which will be implemented by the end of 2021.
Furthermore,
Accidents rose and repair costs soared when COVID-driven lockdowns ended and drivers returned to the highways, owing to growing car prices as well as supply and labor constraints. In consequence, insurance firms cut expenses by lowering client acquisition and advertising spending for the rest of 2021. However, the highly infectious Delta variety caused the greatest COVID rise in the United States to date in the third quarter. As a consequence, numerous colleagues at the DMS Memphis contact center experienced symptoms, and large portions of the call center were placed on quarantine, resulting in a drop in productivity.
Full-year Expectations
- For the full year of 2021, the GAAP revenue is expected to be around $421 million to $431 million.
- The adjusted revenue is anticipated to be between $437 million- $447 million.
- And the adjusted EBTIDA could be between $60 million to $63 million.
