Troika Media Group shares are selling at lower prices as the firm released its first-quarter financial results on Tuesday.
Troka Media Group Inc. TRKA’s shares dropped 27% during regular trading after it released its financial results, and they fell another 51% after hours to 28 cents. On Monday, the shares jumped 49%.
The business reported $187.91 million in revenue for the six months that ended on December 31, 2022. The converge acquisition improved efficiency and diversified the company’s revenue sources. It represented over $180.3 million, 96% of the business revenue.
Performance revenue of $75.7 million, 40% of the incremental revenue, and managed services revenue of $104.6 million, 56%, were also included.
Erica Nadrich, the Chief Financial Officer of Troika Media Group, said that converge’s acquisition has continued to bring revolutionary improvements to the company. Since its acquisition in March 2022 or a total of 285 days, these revenue streams have provided an estimated $270.6 million in revenue.
The revenue generated by their owned and operated internal brand has continued to expand, which justifies our sustained investment in this enterprise approach.
Want to know more about this business enterprise? Continue reading to explore more about Troika Media Group Inc.
Troika Media Group Inc: Bio
Troika Media Group Inc. (TMG) is a consultancy and solutions company with offices in New York and Los Angeles that specializes in customer acquisition and consumer engagement.
They produce robust brand equity by amplifying brands using cutting-edge technologies to generate performance-driven company success.
Troike Media Group has extensive experience in several significant consumer industries, including insurance, finance, home improvement, residential services, law, professional services, media, and entertainment.
Troika Media Group Inc: Key People
The Troika Media Group Inc has a group of people who put great effort and time into its success. The developments that this business witnessed so far are a result of the hard work and dedication of the key people in the company.
Sadiq Toama serves as the Chief Executive officer, president, and director of Troika Media Group Inc. Erica Naidrich is the Chief Finance Officer and Matthew Craig serves as Senior Vice President-Finance.
Thomas Taedus Antoni Ochoki is another director of the company. Michael S. Tenore is the secretary and general counsel and Randall D. Miles is the Chairman.
Irving Martin Popadur, Sabrina Yang, Wendy Parker, Grant G. Lyon, and Jeffrey Scott Stein are the independent directors of Troika Media Company.
Troika Media Group Inc: Acquisitions
Troika Media Group Inc was formed in 2003. Since its foundation, the company rose to prominence in the last few years. The business firm has acquired two organizations in the past two years.
The most recent acquisition of Troika Media Group was the ConvergeDirect in February 2022 for $125 million. In May 2021, Troika Meda Group acquired the business Redeem for an estimated amount of $12.1 million.
- ConvergeDirect LLC
Converge Direct LLC is a leading digital and offline performance media and marketing firm founded in 2006.
The acquisition of Converge Direct by Troika Media Group positioned the company for future growth and margin expansion. It also significantly accelerated Troika’s business model transition objective. Converge Direct is supposed to acquire an estimated amount of $125 million.
- Redeem LLC
Redeem is a fintech platform that enables companies to capture any asset and create custom blockchain-based payment systems.
Troika Media Group acquired Redeem on May 24, 2021. The acquisition was announced by the board members of Redeem LLC. The deal was supposed to be an estimated amount of $12.1 million.
Troika Media Group Inc: Services
Troika Media Group Inc develops both short- and long-term value for international businesses in the areas of entertainment, sports, and consumer goods.
Troika Media Group helps brands enhance interaction with audiences and fans across the customer experience and develops brand equity by combining innovative technologies, data science, and top-notch creativity.
A few of the major clients of Troika Media Group Inc are listed below:
- Apple
- Hulu
- CNN
- HBO
- Sony
- Coca-Cola
- Riot Games
- Belvedere Vodka
- Unilever
- Peloton
- Wynn Resorts and Casinos
- Tiffany & Co.
- IMAX
- Netflix
- ESPN
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Troika Media Group Inc: Subsidiaries
In 2017, Troika created Troika Digital which is led by Rob Schwartz. The performance marketing capabilities of Troika digital helps the group to measure key performance indicators better than anyone else in the industry.
Combining the best of Troika’s branding and digital work, the new company produces a complementary and incredibly capable workforce.
The other subsidiary firms of Troika Media Group include:
- Troika Design Group
- ConvergeDirect, LLC
- Lacuna Ventures, LLC
- Arista Communications, LLC
- Cardinal Connect, LLC
- SuiteSpeed, Inc
- Canadian Communications, LLC
- M2 nGageTelecommunications II Corp.
Troika Media Group Inc: Net Worth
As of 2023, the business conglomerate Troika Media Group is supposed to have an estimated net worth of more than $0.05 billion. The shares of the business started to fall on March 7, 2023.
According to reports, the stock of Troika Media Group has dropped more than 25% so far this month. The downfall was followed by a rise in the shares last week. So experts say that the business is now in a tricky situation.
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