AdTheorent Holding Company, Inc. (ADTH) | Investment Case

1. Company Snapshot

1.a. Company Description

AdTheorent Holding Company, Inc., a digital media platform, provides machine learning platform for advertisers and marketers in the United States and Canada.The company offers predictive targeting, geo-intelligence, and cross-environment map solutions, as well as Studio A\T.It serves pharmaceutical/healthcare, dining, retail, and travel and hospitality, as well as banking, financial services and insurance industries.

The company was founded in 2012 and is headquartered in New York, New York.

Show Full description

1.b. Last Insights on ADTH

AdTheorent Holding Company, Inc. (ADTH) experienced a 6.0% performance over the past three months, driven by its machine learning-based solutions and growing demand for programmatic advertising. The company's acquisition by Cadent, LLC, and potential breaches of fiduciary duty by the board of directors may have also contributed to the stock's performance.

1.c. Company Highlights

Last Price	3.21
Change Percentage	0.16%
Open	3.2
Previous Close	3.2
Market Cap ( Millions)	295
Volume	674480
Year High	3.98
Year Low	1.11
M A 50	3.23
M A 200	2.26

FCF Yield	-0.84%
Dividend Yield	0.00%
ROE	0.00%
Debt / Equity	3.97%
Net Debt / EBIDTA	-982.86%
Price To Book	1.71
Price Earnings Ratio	40284.52
Price To FCF	-119.09
Price To sales	1.72
EV / EBITDA	35.62

2. Transcript Summary

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3. NewsRoom

SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates Merger of AdTheorent Holding Company, Inc. – ADTH

Jun -26

Source: globenewswire.com

AdTheorent Wins “Best Predictive Modeling Solution” Designation in 7th Annual AI Breakthrough Awards Program

Jun -26

Source: globenewswire.com

SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates Merger of AdTheorent Holding Company, Inc. - ADTH

Jun -24

Source: prnewswire.com

SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates Merger of AdTheorent Holding Company, Inc. – ADTH

Jun -21

Source: globenewswire.com

Cadent, LLC Completes Acquisition of AdTheorent Holding Company, Inc.

Jun -21

Source: globenewswire.com

3 Crazy Good Stocks to Buy With $500 Right Now

Jun -12

Source: investorplace.com

AdTheorent Named Best AdTech Platform in 2024 Digiday Media Awards

May -22

Source: prnewswire.com

AdTheorent Holding Company, Inc. Announces Withdrawal of Acquisition Proposal from Third Party and Next Steps in Cadent Transaction

May -16

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.00%)

6. Segments

Machine Learning and Advanced Data Science

Expected Growth: 11%

AdTheorent's 11% growth in Machine Learning and Advanced Data Science is driven by increasing demand for personalized advertising, expansion into new industries, and advancements in predictive analytics. Additionally, the company's proprietary data management platform and strategic partnerships have enabled it to capitalize on the growing need for data-driven marketing solutions.

7. Detailed Products

Predictive Targeting

A machine learning-based targeting solution that uses data and analytics to identify and target high-value audiences for advertisers.

Cross-Environment Platform

A platform that enables advertisers to reach their target audience across multiple environments, including mobile, desktop, and connected TV.

Data Management Platform (DMP)

A data management platform that enables advertisers to collect, organize, and activate their first-party data to deliver targeted advertising.

Audience Extension

A solution that enables advertisers to extend their reach beyond their own properties to target their audience across the web.

Lookalike Targeting

A targeting solution that enables advertisers to target users who resemble their existing customers or high-value audiences.

8. AdTheorent Holding Company, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

AdTheorent Holding Company, Inc. operates in a niche market, providing mobile in-app advertising solutions. While there are substitutes available, the company's proprietary technology and strong relationships with publishers and advertisers mitigate the threat of substitutes.

Bargaining Power Of Customers

AdTheorent Holding Company, Inc. has a diverse customer base, and no single customer accounts for a significant portion of its revenue. This reduces the bargaining power of customers.

Bargaining Power Of Suppliers

AdTheorent Holding Company, Inc. relies on a network of publishers and data providers to deliver its advertising solutions. While the company has some bargaining power, suppliers also have some leverage due to the specialized nature of their services.

Threat Of New Entrants

The mobile in-app advertising market is highly competitive, and new entrants can easily enter the market. AdTheorent Holding Company, Inc. must continue to innovate and differentiate itself to maintain its market position.

Intensity Of Rivalry

The mobile in-app advertising market is highly competitive, with many established players and new entrants vying for market share. AdTheorent Holding Company, Inc. must focus on differentiating itself and providing high-quality services to maintain its market position.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	3.82%
Debt Cost	3.95%
Equity Weight	96.18%
Equity Cost	10.00%
WACC	9.77%
Leverage	3.97%

11. Quality Control: AdTheorent Holding Company, Inc. passed 3 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Inefficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Travelzoo

A-Score: 4.5/10

Value: 8.6

Growth: 6.3

Quality: 7.5

Yield: 0.0

Momentum: 2.0

Volatility: 2.3

1-Year Total Return ->

Innovid

A-Score: 3.7/10

Value: 3.2

Growth: 4.7

Quality: 4.6

Yield: 0.0

Momentum: 9.0

Volatility: 0.7

1-Year Total Return ->

National CineMedia

A-Score: 3.6/10

Value: 6.0

Growth: 2.4

Quality: 4.2

Yield: 5.0

Momentum: 1.5

Volatility: 2.7

1-Year Total Return ->

Direct Digital Holdings

A-Score: 3.4/10

Value: 10.0

Growth: 3.0

Quality: 5.4

Yield: 0.0

Momentum: 1.5

Volatility: 0.3

1-Year Total Return ->

AdTheorent Holding Company

A-Score: 2.9/10

Value: 4.2

Growth: 2.0

Quality: 4.6

Yield: 0.0

Momentum: 5.0

Volatility: 1.3

1-Year Total Return ->

Cardlytics

A-Score: 2.7/10

Value: 8.8

Growth: 3.0

Quality: 3.4

Yield: 0.0

Momentum: 1.0

Volatility: 0.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

48.51%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

9.77%

AdTheorent Holding Company, Inc. - US00739D1090

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on ADTH

1.c. Company Highlights

Strong Momentum

Lower Growth

Medium Volatility

Earnings Miss

Average Yield

Earnings Beats

Average Growth

Stable Momentum

Fairly Valued

More Volatile

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.00%)

6. Segments

Machine Learning and Advanced Data Science

Expected Growth: 11%

7. Detailed Products

Predictive Targeting

Cross-Environment Platform

Data Management Platform (DMP)

Audience Extension

Lookalike Targeting

8. AdTheorent Holding Company, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: AdTheorent Holding Company, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

3.2$

Current Price

3.21$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA