Blinkx CEO, Suranga Chandratillake discusses a transformational year

Wednesday, May 19 2010 by
Blinkx CEO Suranga Chandratillake discusses a transformational year

Shares in Blinkx Plc (LON:BLNX) soared by 27% to 16.5p this morning on news that the world’s largest and most advanced video search engine managed to break consensus expectations in its full year results. Of note, the company glided into positive EBITDA territory during the second half of the year – a move that it said was “nothing short of transformational”.

Revenues at Blinkx increased by more than 140% to £33.7m with gross profit up by 123% to $21.9m. Second half EBITDA came in at $0.03m against an EBITDA of $5.85m in the first half. Meanwhile, video streams in the UK and US rose by 186% according to independent industry analyst comScore, while daily video searches in March 2010 rose by 169% to 22.6m on the same month last year. On the advertising front, Blinkx said repeat bookings had risen by 193%, led by companies including Microsoft, BMW and Stella Artois. The company also expanded its network of distribution partners to include the likes of and news network ITN.

At the heart of Blinkx’s video processing technology is a licence from Autonomy, the FTSE 350 enterprise software group that the company was spun out of back in 2007. In a sign that it is keen to roll out the technology even further, it today gave more details about the imminent US launch of its Cheep “transaction hijacking” product. The new system, which the company assured investors had required minimal investment so far, intends to reinvigorate the e-commerce market by making it easier for users to compare products and prices before they buy.

Ahead of today’s analyst presentation, Suranga Chandratillake, the chief executive of Blinkx, spoke to Stockopedia News about the progress the company had made during the last 12 months.

Q. You have beaten expectations with today’s results and made some significant developments this year, so what has been driving growth at Blinkx?

Almost three years ago we IPO’d the company and raised $50m and at the time we put forward a plan which would take us to profitability. Since then, we have met or exceeded every single one of our own targets as well as the targets that have been set for us by the market at large. That culminates with the results we are looking at today which are very strong; revenues have increased by 140%, which is remarkable…

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RhythmOne plc, formerly blinkx plc, is an online advertising company that connects digital audiences with brands through content across devices. The Company is engaged in offering online advertising through a range of formats and pricing options that include video, mobile, social, display, native, text and media covering brand, and performance advertising campaigns, sold both directly and programmatically. The Company offers RhythmMax, which is an integrated programmatic trading platform. The RhythmMax platform offers a common point of access to RhythmOne inventory across owned, controlled and extended supply sources. The RhythmMax platform includes specialized brand safety technology, RhythmGuard, which combines third-party verification methodologies with filtering technology to ensure quality inventory. The Company works with advertisers, publishers and content providers to offer integrated, cross-screen advertising solutions. more »

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About Ben Hobson

Ben Hobson

Stockopedia writer, editor, researcher and interviewer!


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