Press Release
Rubicon Project Announces Record Second Quarter Financial Results
-
Second quarter revenue was
$28.3 million , up 49% year-over-year -
Second quarter managed revenue1 was
$153.5 million , up 36% year-over-year -
Second quarter adjusted EBITDA2 was
$2.7 million , up 27% year-over-year - Second quarter non-GAAP earnings per share2 was breakeven
- Second quarter RTB managed revenue1 grew 75% year over year
“We closed another record quarter, exceeding expectations with revenue
growth accelerating to 49% and reporting a positive adjusted EBITDA,”
said
Q2 2014 Financial Results:
-
Revenue was
$28.3 million for the second quarter of 2014, an increase of 49% from$19.0 million for the second quarter of 2013. -
Adjusted EBITDA2 was
$2.7 million for the second quarter of 2014 compared to$2.1 million for the second quarter of 2013. -
Net loss was
$9.4 million for the second quarter of 2014 compared to a net loss of$2.1 million for the second quarter of 2013. -
Net loss per share attributable to common stockholders was
$0.29 for the second quarter of 2014, based on 32.3 million weighted-average shares outstanding. This compares to a net loss per share of$0.28 for the second quarter of 2013, which was based on 11.4 million weighted-average shares outstanding. -
Non-GAAP earnings per share2 was breakeven for the
second quarter of 2014, based on 33.2 million non-GAAP
weighted-average shares outstanding. This compares to non-GAAP
earnings per share of
$0.01 for the second quarter 2013, which was based on 26.1 million non-GAAP weighted-average shares outstanding.
Key Operational Measures:
-
Managed revenue1 was
$153.5 million for the second quarter of 2014, an increase of 36% from$112.7 million for the second quarter of 2013. - Take rate1 was 18.4% for the second quarter of 2014, compared to 16.9% for the second quarter of 2013.
Guidance:
As of
For the third quarter of 2014, the Company expects:
-
Revenue between
$28.5 million and $29.5 million ; -
Adjusted EBITDA2 loss between
$3.5 million and $2.5 million ; and -
Non-GAAP loss per share2 between
$0.20 and $0.17 based on approximately 33.7 million non-GAAP weighted-average shares outstanding.
For the full year ending
-
Revenue between
$117 million and $119 million ; -
Adjusted EBITDA2 between negative and positive
$1.0 million ; and -
Non-GAAP loss per share2 between
$0.41 and $0.34 based on approximately 32.0 million non-GAAP weighted-average shares outstanding.
The non-GAAP weighted-average shares outstanding used in the guidance
for the third quarter and full year non-GAAP loss per share include the
6.4 million shares issued in the initial public offering from
__________________________________________________________________
1 Managed revenue and take rate are operational measures. Managed revenue represents advertising spending transacted on our platform and would represent our revenue if we were to record our revenue on a gross basis instead of a net basis. Take rate represents our share of managed revenue.
2 Adjusted EBITDA and non-GAAP earnings (loss) per share are non-GAAP financial measures. Please see the discussion in the section called “Key Operational and Non-GAAP Financial Measures” and the reconciliations included at the end of this earnings release.
Conference Call Information:
The company will host a conference call on
About The
Rubicon Project pioneered advertising automation. Its technology platform provides leading user reach and is used by hundreds of the world’s premium publishers and applications to connect with top brands around the globe. A company driven by innovation, Rubicon Project has engineered the Advertising Automation Cloud, one of the largest real-time cloud and Big Data computing systems, processing trillions of transactions within milliseconds each month.
Headquartered in
Note: The
Forward-Looking Statements
This press release and management’s answers to questions during our
earnings call may contain forward-looking statements, including
statements based upon or relating to our expectations, assumptions,
estimates, and projections. In some cases, you can identify
forward-looking statements by terms such as “may,” “might,” “will,”
“objective,” “intend,” “should,” “could,” “can,” “would,” “expect,”
“believe,” “design,” “anticipate,” “estimate,” “predict,” “potential,”
“plan” or the negative of these terms, and similar expressions.
Forward-looking statements may include, but are not limited to, our
belief that we took a huge leap into mobile and that we power the
world’s largest mobile native advertising exchange, our guidance and
other statements concerning our anticipated performance, including
revenue, margin, cash flow, balance sheet, and profit expectations;
development of our technology; introduction of new offerings; scope of
client relationships; business mix; sales growth; client utilization of
our offerings; market conditions and opportunities; and operational
measures including managed revenue, paid impressions, average CPM, and
take rate. These statements are not guarantees of future performance;
they reflect our current views with respect to future events and are
based on assumptions and subject to known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to be materially different from expectations
or results projected or implied by forward-looking statements. These
risks include, but are not limited to: our ability to grow rapidly and
to manage our growth effectively; our ability to develop innovative new
technology and remain a market leader; our ability to attract and retain
buyers and sellers and increase our business with them; our ability to
use our solution to purchase and sell higher value advertising and to
expand the use of our solution by buyers and sellers utilizing evolving
digital media platforms, including mobile and video; our ability to
introduce new solutions and bring them to market in a timely manner; our
ability to maintain a supply of advertising inventory from sellers; our
limited operating history and history of losses; our ability to continue
to expand into new geographic markets; the effects of increased
competition in our market and our ability to compete effectively; the
effects of seasonal trends on our results of operations; costs
associated with defending intellectual property infringement and other
claims; our ability to attract and retain qualified employees and key
personnel; our ability to consummate future acquisitions of or
investments in complementary companies or technologies; our ability to
comply with, and the effect on our business of, evolving legal standards
and regulations, particularly concerning data protection and consumer
privacy; and our ability to develop and maintain our corporate
infrastructure, including our finance and information technology systems
and controls. We discuss many of these risks and additional factors that
could cause actual results to differ materially from those anticipated
by our forward-looking statements under the captions "Risk Factors" and
“Management Discussion and Analysis of Financial Condition and Results
of Operations” in our periodic reports filed with the
Key Operational and Non-GAAP Financial Measures
Rubicon Project’s management evaluates and makes operating decisions using various operational and financial measures.
Operational Measures
Managed revenue is an operational measure that represents the
advertising spending transacted on our platform, and would represent our
revenue if we were to record our revenue on a gross basis instead of a
net basis. Managed revenue does not represent revenue reported in
accordance with generally accepted accounting principles in
Take rate is an operational measure that represents our share of managed revenue. We review take rate for internal management purposes to assess the development of our marketplace with buyers and sellers. Our take rate can be affected by a variety of factors, including the terms of our arrangements with buyers and sellers active on our platform in a particular period, the scale of a buyer’s or seller’s activity on our platform, product mix, the implementation of new products, platforms and solution features, and the overall development of the digital advertising ecosystem.
Financial Measures
This press release includes information relating to adjusted EBITDA and non-GAAP earnings (loss) per share, which are financial measures that have not been prepared in accordance with GAAP. These non-GAAP financial measures are used by our management and board of directors, in addition to our GAAP results, to understand and evaluate our operating performance and trends, to prepare and approve our annual budget, and to develop short- and long-term operational plans. Management believes that these non-GAAP financial measures provide useful information about our core operating results and thus are appropriate to enhance the overall understanding our past financial performance and our prospects for the future.
These non-GAAP financial measures are not intended to be considered in isolation from, as substitutes for, or as superior to, the corresponding financial measures prepared in accordance with GAAP. Adjusted EBITDA and non-GAAP earnings (loss) per share eliminate the impact of items that we do not consider indicative of our core operating performance and operating performance on a per share basis. You are encouraged to evaluate these adjustments, and review the reconciliation of these non-GAAP measures to their most comparable GAAP financial measures, and the reasons we consider them appropriate. It is important to note that the particular items we exclude from, or include in, our non-GAAP financial measures may differ from the items excluded from, or included in, similar non-GAAP financial measures used by other companies. See “Reconciliation of net loss to adjusted EBITDA” and “Calculation of net loss attributable to common stockholders to non-GAAP earnings (loss) per share” included as part of this press release.
We define adjusted EBITDA as net loss adjusted for stock-based compensation expense, depreciation and amortization, interest income or expense, change in fair value of pre-IPO convertible preferred stock warrant liabilities, and other income or expense, which mainly consists of foreign exchange gains and losses, certain other non-recurring income or expenses such as acquisition and related costs, and provision for income taxes. We believe adjusted EBITDA is useful to investors in evaluating our operating performance for the following reasons:
- adjusted EBITDA is widely used by investors and securities analysts to measure a company’s operating performance without regard to items such as stock-based compensation expense, depreciation and amortization, interest income or expense, change in fair value of preferred stock warrant liabilities, foreign exchange gains and losses, certain other non-recurring income or expense such as acquisition and related costs, and provision for income taxes that can vary substantially from company to company depending upon their financing, capital structures and the method by which assets were acquired;
- our management uses adjusted EBITDA in conjunction with GAAP financial measures for planning purposes, including the preparation of our annual operating budget, as a measure of operating performance and the effectiveness of our business strategies, and in communications with our board of directors concerning our financial performance;
- adjusted EBITDA may sometimes be considered by the compensation committee of our board of directors in connection with the determination of compensation for our executive officers; and
- adjusted EBITDA provides consistency and comparability with our past financial performance, facilitates period-to-period comparisons of operations, and facilitates comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results.
Although adjusted EBITDA is frequently used by investors and securities analysts in their evaluations of companies, adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results of operations as reported under GAAP. These limitations include:
- stock-based compensation is a non-cash charge and is and will remain an element of our long-term incentive compensation package, although we exclude it as an expense when evaluating our ongoing operating performance for a particular period;
- depreciation and amortization are non-cash charges, and the assets being depreciated or amortized will often have to be replaced in the future; adjusted EBITDA does not reflect any cash requirements for these replacements;
- adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs, capital expenditures or contractual commitments, and therefore may not reflect periodic increases in capital expenditures;
- adjusted EBITDA does not reflect cash requirements for income taxes and the cash impact of other income or expense; and
- other companies may calculate adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure.
Because of these limitations, we also consider other financial measures, including net loss.
Non-GAAP earnings (loss) per share is calculated by dividing non-GAAP
net income (loss) by non-GAAP weighted-average shares outstanding.
Non-GAAP net income (loss) is equal to net loss attributable to common
stockholders excluding the change in fair value of preferred stock
warrant liabilities, cumulative preferred stock dividends, stock-based
compensation, acquisition and related items expense, foreign currency
gains and losses, and amortization of intangible assets. The Non-GAAP
weighted-average shares outstanding used to calculate non-GAAP earnings
(loss) per share assume the net exercise of a preferred stock warrant
and the conversion of each share of convertible preferred stock to one
half share of common stock in connection with our initial public
offering as if they had occurred at the beginning of each respective
period presented, include the 6.4 million shares issued in our initial
public offering from
THE RUBICON PROJECT, INC. | |||||||||
CONSOLIDATED BALANCE SHEETS | |||||||||
(In thousands) | |||||||||
(unaudited) | |||||||||
June 30, 2014 | December 31, 2013 | ||||||||
ASSETS | |||||||||
Current assets: | |||||||||
Cash and cash equivalents | $ | 105,688 | $ | 29,956 | |||||
Accounts receivable, net | 91,174 | 94,722 | |||||||
Prepaid expenses and other current assets | 5,159 | 4,141 | |||||||
TOTAL CURRENT ASSETS | 202,021 | 128,819 | |||||||
Property and equipment, net | 11,809 | 8,712 | |||||||
Internal use software development costs, net | 10,069 | 7,204 | |||||||
Goodwill | 1,491 | 1,491 | |||||||
Intangible assets, net | 248 | 510 | |||||||
Other assets, non-current | 1,490 | 3,151 | |||||||
TOTAL ASSETS | $ | 227,128 | $ | 149,887 | |||||
LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||||
LIABILITIES | |||||||||
Current liabilities: | |||||||||
Accounts payable and accrued expenses | $ | 119,096 | $ | 120,198 | |||||
Debt and capital lease obligations, current portion | 208 | 288 | |||||||
Other current liabilities | 2,276 | 2,901 | |||||||
TOTAL CURRENT LIABILITIES | 121,580 | 123,387 | |||||||
Debt and capital leases, net of current portion | — | 3,893 | |||||||
Convertible preferred stock warrant liabilities | — | 5,451 | |||||||
Other liabilities, non-current | 1,471 | 996 | |||||||
TOTAL LIABILITIES | 123,051 | 133,727 | |||||||
Commitments and contingencies | |||||||||
Convertible preferred stock | — | 52,571 | |||||||
STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||||
Preferred stock | — | — | |||||||
Common stock | — | — | |||||||
Additional paid-in capital | 181,463 | 25,532 | |||||||
Accumulated other comprehensive income | 133 | 96 | |||||||
Accumulated deficit | (77,519) | (62,039) | |||||||
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) | 104,077 | (36,411) | |||||||
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) | $ | 227,128 | $ | 149,887 | |||||
THE RUBICON PROJECT, INC. | ||||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||||
(In thousands, except per share amounts) | ||||||||||||||||||
(unaudited) | ||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||
June 30, 2014 | June 30, 2013 | June 30, 2014 | June 30, 2013 | |||||||||||||||
Revenue | $ | 28,283 | $ | 19,035 | $ | 51,298 | $ | 35,635 | ||||||||||
Expenses: | ||||||||||||||||||
Cost of revenue1 | 4,852 | 3,594 | 9,312 | 7,031 | ||||||||||||||
Sales and marketing1 | 10,296 | 6,167 | 19,323 | 12,362 | ||||||||||||||
Technology and development1 | 4,598 | 5,138 | 9,275 | 9,249 | ||||||||||||||
General and administrative1 | 15,653 | 5,726 | 26,973 | 10,360 | ||||||||||||||
Total expenses | 35,399 | 20,625 | 64,883 | 39,002 | ||||||||||||||
Loss from operations | (7,116) | (1,590) | (13,585) | (3,367) | ||||||||||||||
Other (income) expense: | ||||||||||||||||||
Interest expense, net | 14 | 69 | 71 | 160 | ||||||||||||||
Change in fair value of preferred stock warrant liabilities | 1,742 | 428 | 732 | 977 | ||||||||||||||
Foreign exchange (gain) loss, net | 382 | (45) | 930 | (350) | ||||||||||||||
Total other (income) expense, net | 2,138 | 452 | 1,733 | 787 | ||||||||||||||
Loss before income taxes | (9,254) | (2,042) | (15,318) | (4,154) | ||||||||||||||
Provision for income taxes | 112 | 63 | 162 | 113 | ||||||||||||||
Net loss | (9,366) | (2,105) | (15,480) | (4,267) | ||||||||||||||
Cumulative preferred stock dividends | (70) | (1,059) | (1,116) | (2,104) | ||||||||||||||
Net loss attributable to common stockholders | $ | (9,436) | $ | (3,164) | $ | (16,596) | $ | (6,371) | ||||||||||
Basic and diluted net loss per share attributable to common stockholders | $ | (0.29) | $ | (0.28) | $ | (0.74) | $ | (0.56) | ||||||||||
Basic and diluted weighted-average shares used to compute net loss per share attributable to common stockholders | 32,266 | 11,427 | 22,296 | 11,377 | ||||||||||||||
1 Includes stock-based compensation expense as follows (in thousands): | ||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||
June 30, 2014 | June 30, 2013 | June 30, 2014 | June 30, 2013 | |||||||||||||||
Cost of revenue | $ | 57 | $ | 22 | $ | 88 | $ | 40 | ||||||||||
Selling and marketing | 700 | 223 | 1,277 | 563 | ||||||||||||||
Technology and development | 424 | 419 | 727 | 787 | ||||||||||||||
General and administrative | 5,918 | 850 | 7,485 | 1,628 | ||||||||||||||
Total stock-based compensation | $ | 7,099 | $ | 1,514 | $ | 9,577 | $ | 3,018 | ||||||||||
THE RUBICON PROJECT, INC. | |||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||
(In thousands) | |||||||||
(unaudited) | |||||||||
Six Months Ended | |||||||||
June 30, 2014 | June 30, 2013 | ||||||||
OPERATING ACTIVITIES: | |||||||||
Net loss | $ | (15,480) | $ | (4,267) | |||||
Adjustments to reconcile net loss to net cash provided by operating activities | |||||||||
Depreciation and amortization | 5,053 | 4,101 | |||||||
Stock-based compensation | 9,577 | 3,018 | |||||||
Loss on disposal of property and equipment, net | 199 | — | |||||||
Change in fair value of preferred stock warrant liabilities | 732 | 977 | |||||||
Unrealized foreign currency loss | 121 | 482 | |||||||
Changes in operating assets and liabilities: | |||||||||
Accounts receivable | 3,760 | 2,125 | |||||||
Prepaid expenses and other assets | (791) | (408) | |||||||
Accounts payable and accrued expenses | (1,637) | 2,404 | |||||||
Other liabilities | (986) | 1,761 | |||||||
Net cash provided by operating activities | 548 | 10,193 | |||||||
INVESTING ACTIVITIES: | |||||||||
Purchases of property and equipment, net | (4,520) | (2,360) | |||||||
Capitalized internal use software development costs | (4,449) | (1,191) | |||||||
Change in restricted cash | 100 |
(1,250) |
|||||||
Net cash used in investing activities | (8,869) | (4,801) | |||||||
FINANCING ACTIVITIES: | |||||||||
Proceeds from the issuance of common stock in initial public offering, net of underwriting discounts and commissions | 89,733 | — | |||||||
Payments of initial public offering costs | (2,898) | — | |||||||
Proceeds from exercise of stock options | 1,070 | 218 | |||||||
Repayment of debt and capital lease obligations | (3,973) | (603) | |||||||
Net cash provided by (used in) financing activities | 83,932 | (385) | |||||||
EFFECT OF EXCHANGE RATE CHANGES ON CASH | 121 | (485) | |||||||
CHANGE IN CASH AND CASH EQUIVALENTS | 75,732 | 4,522 | |||||||
CASH--Beginning of period | 29,956 | 21,616 | |||||||
CASH AND CASH EQUIVALENTS--End of period | $ | 105,688 | $ | 26,138 | |||||
SUPPLEMENTAL DISCLOSURES OF OTHER CASH FLOW INFORMATION: | |||||||||
Capitalized assets financed by accounts payable and accrued expenses | $ | 1,043 | $ | 1,375 | |||||
Leasehold improvements paid by landlord | $ | 803 | $ | — | |||||
Capitalized stock-based compensation | $ | 332 | $ | 55 | |||||
Conversion of preferred stock to common stock | $ | 52,571 | $ | — | |||||
Reclassification of preferred stock warrant liabilities to additional-paid-in-capital | $ | 6,183 | $ | — | |||||
Reclassification of deferred offering costs to additional-paid-in-capital | $ | 3,533 | $ | — | |||||
Unpaid deferred offering costs in accounts payable and accrued expenses | $ | 139 | $ | — | |||||
THE RUBICON PROJECT, INC. | ||||||||||||||||||||||
KEY OPERATIONAL AND FINANCIAL MEASURES | ||||||||||||||||||||||
(unaudited) | ||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||
June 30, 2014 | June 30, 2013 | June 30, 2014 | June 30, 2013 | |||||||||||||||||||
Operational Measures: | ||||||||||||||||||||||
Managed revenue (in thousands) | $ | 153,540 | $ | 112,743 | $ | 283,106 | $ | 209,102 | ||||||||||||||
Take rate | 18.4 | % | 16.9 | % | 18.1 | % | 17.0 | % | ||||||||||||||
Financial Measures: | ||||||||||||||||||||||
Revenue (in thousands) | $ | 28,283 | $ | 19,035 | $ | 51,298 | $ | 35,635 | ||||||||||||||
Adjusted EBITDA (in thousands) | $ | 2,661 | $ | 2,089 | $ | 1,045 | $ | 4,065 | ||||||||||||||
THE RUBICON PROJECT, INC. | ||||||||||||||||||
RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA | ||||||||||||||||||
(In thousands) | ||||||||||||||||||
(unaudited) | ||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||
June 30, 2014 | June 30, 2013 | June 30, 2014 | June 30, 2013 | |||||||||||||||
Financial Measure: | ||||||||||||||||||
Net loss | $ | (9,366) | $ | (2,105) | $ | (15,480) | $ | (4,267) | ||||||||||
Add back (deduct): | ||||||||||||||||||
Depreciation and amortization expense | 2,678 | 2,040 | 5,053 | 4,101 | ||||||||||||||
Stock-based compensation expense | 7,099 | 1,514 | 9,577 | 3,018 | ||||||||||||||
Acquisition and related items | — | 125 | — | 313 | ||||||||||||||
Interest expense, net | 14 | 69 | 71 | 160 | ||||||||||||||
Change in fair value of preferred stock warrant liabilities | 1,742 | 428 | 732 | 977 | ||||||||||||||
Foreign currency (gain) loss, net | 382 | (45) | 930 | (350) | ||||||||||||||
Provision for income taxes | 112 | 63 | 162 | 113 | ||||||||||||||
Adjusted EBITDA | $ | 2,661 | $ | 2,089 | $ | 1,045 | $ | 4,065 | ||||||||||
THE RUBICON PROJECT, INC. | ||||||||||||||||||
CALCULATION OF NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS TO NON-GAAP EARNINGS (LOSS) PER SHARE | ||||||||||||||||||
(In thousands, except per share amounts) | ||||||||||||||||||
(unaudited) | ||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||
June 30, 2014 | June 30, 2013 | June 30, 2014 | June 30, 2013 | |||||||||||||||
Calculation of non-GAAP earnings (loss) per share: | ||||||||||||||||||
Net loss attributable to common stockholders | $ | (9,436) | $ | (3,164) | $ | (16,596) | $ | (6,371) | ||||||||||
Add back (deduct): | ||||||||||||||||||
Change in fair value of preferred stock warrant liabilities | 1,742 | 428 | 732 | 977 | ||||||||||||||
Cumulative preferred stock dividends | 70 | 1,059 | 1,116 | 2,104 | ||||||||||||||
Stock-based compensation | 7,099 | 1,514 | 9,577 | 3,018 | ||||||||||||||
Acquisition and related items | — | 125 | — | 313 | ||||||||||||||
Foreign currency (gain) loss, net | 382 | (45) | 930 | (350) | ||||||||||||||
Amortization of intangible assets | 118 | 264 | 261 | 576 | ||||||||||||||
Non-GAAP net income (loss) | $ | (25) | $ | 181 | $ | (3,980) | $ | 267 | ||||||||||
Non-GAAP earnings (loss) per share | $ | — | $ | 0.01 | $ | (0.13) | $ | 0.01 | ||||||||||
Non-GAAP weighted-average shares outstanding | 33,235 | 26,123 | 30,091 | 26,073 | ||||||||||||||
Reconciliation of basic and diluted weighted-average shares used to compute net earnings (loss) per share attributable to common stockholders to non-GAAP weighted-average shares outstanding: | ||||||||||||||||||
Basic and diluted weighted-average shares used to compute net earnings (loss) per share attributable to common stockholders | 32,266 | 11,427 | 22,296 | 11,377 | ||||||||||||||
Conversion of preferred stock, weighted-average | 950 | 14,410 | 7,643 | 14,410 | ||||||||||||||
Conversion of net exercised preferred stock warrant, weighted-average | 19 | 286 | 152 | 286 | ||||||||||||||
Non-GAAP weighted-average shares outstanding | 33,235 | 26,123 | 30,091 | 26,073 |
Source: The
Investor Relations Contact
ICR
Denise Garcia
Investor@rubiconproject.com
or
Media
Contact
Rubicon Project
James Aldous, 310-207-0272, x154
Press@rubiconproject.com