Q1: 122% Revenue Growth with 147% Growth in Partners…Another great Q, under the hood its looks even better when you look where the revenue is coming from and the continued growth in Partners.
Continued multiplying of Self Service Revenue up 137% YoY to 6.3M Throw on top of that continued triple digit growth in self-service partners up 147% YoY and you have continued runway for triple digit revenue growth for the foreseeable future without any incremental acquisitions.
Just going to take a second and say how impressive that 32 Partner additions was up another 20% QoQ . This is supposed to be the weakest Q for advertising and they add more clients then they ever had in a 3-month period other than that transformational Q in previous Q4. (Bodes real well for the future!!!)
US revenue up 276% and EMEA up 235% is huge. I am real bullish on the European expansion and seeing that they have only had an office open in London for 4-6 weeks and they put up revenue growth over 235% the acceleration in revenue growth overseas is just getting going.
On Valuation: When analyst start to roll over price targets to reflect 2018 sales seeing 2017 is almost half way over and I am at 130M in Revenue 2018 (without any Incremental acquisitions) and putting a 2.0-3.0x Sales given its sustained growth rate gets an estimate of 8.00-12.00/share or 10.00/share at the midpoint or 138% upside.
Tal Hayek and his team are just getting started…
LONG