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KIT Digital Sees 39% Revenue Jump in Q2 '11 to $48 Million; Provides Guidance of $210 Million for Full Year
Video management software provider KIT Digital has released preliminary Q2 '11 results, with record revenue of $48 million (up 39% from Q1 '11up 108% from Q2 '10) and EBITDA of $9.5 million (up 34% from Q1 '11 and 125% from Q2 '10). In addition KIT provided full year 2011 revenue guidance of $210 million.
In an interview, Gannon Hall, EVP, Global Marketing and Adam Davis, Global Communications Manager told me that approximately 30-35% of the Q2
growth was organic, with the remaining coming from growth through acquisitions. Over the past six months KIT Digital has acquired at least 4 companies and it has recently completed "Project Delta," an internal integration and restructuring process.
Gannon and Adam said that KIT is seeing a balanced mix of business between the Americas, EMEA and Asia-Pacific across three main verticals, media & entertainment, network operators and non-media enterprises. The next generation of the KIT platform (to be released in early Sept.) will come in two versions, one a fully-featured, multi-screen version for over-the-top network operators and large content companies, and the other a more traditional, lower cost online video management platform for small-to-midsize content providers. The OVP version is cloud-based and the OTT version also has hosted and managed private cloud options. KIT is not offering a sub- $100/mo option like other OVPs; it's entry fee is a couple thousand dollars/mo or more.
KIT added 35 net new customers in Q2, with ARPU/month of over $30K. Today it also announced TV5, a large Philippines broadcasters and tomorrow it is announcing an expanded deal with Airbus, the European aircraft manufacturer. In all KIT now serves 2,300 customers.Topics: KIT Digital
