Reservoir Releases Financial Statements Ahead of Becoming Publicly Traded

Reservoir reported $29.1 million in EBITDA for 2020 -- almost double the $16.4 million in EBITDA it posted for 2019. Operating EBITDA came in at $24.2 million in 2020, up from $18.3 million in 2019.Gross profit hit $36 million in 2020, with the profit margin slipping slightly to 56.3% from 60.5% in 2019 on $26 million in gross profit.

Calculating a three-year revenue and gross profit average for the years 2019, 2020 and the 2021 estimate, Reservoir averaged $36.3 million in net publisher/label share, on revenues of $63 million. On a going forward basis for 2022, Reservoir projects revenue of $108 million with gross profit of $60 million, which translates into a 13.1 NPS/NLS times multiple.In looking at 2021’s estimated publishing revenue mix, the company reported that digital accounted for 54%, performance 24%, synchronization 15% and other 7%.

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