RhythmOne, formerly known as Blinkx, has reported a narrowed pre-tax loss of $14.9m for the year ending 31 March. The firm has undergone a two-year restructure to refocus its efforts on its core mobile, video and programmatic offerings. Shares in the company fell by more than 10% after it announced that revenue had fallen from $495m (£341m) last year, down from $1.5bn five years earlier.
RhythmOne, formerly known as Blinkx, has reported a narrowed pre-tax loss of $14.9m for the year ending 31 March. The firm has undergone a two-year restructure to refocus its efforts on its core mobile, video and programmatic offerings. It also invested $5m in developing these product lines, while slashing operating expenses by more than 18% year on year.