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AutoWeb Reports First Quarter 2021 Results
Traffic Acquisition Efficiencies and Platform Improvements Drive Strong Margin Expansion and Operational Momentum
TAMPA, Fla., May 06, 2021 (GLOBE NEWSWIRE) AutoWeb, Inc. (Nasdaq: AUTO), a robust digital marketing platform providing digital advertising solutions for automotive dealers and OEMs, is reporting financial results for the first quarter ended March 31, 2021.
“Our first quarter results demonstrate the continued efficiency and operational momentum of our business,” said Jared Rowe, President and CEO of AutoWeb. “Even with Q1 representing a seasonal low point for us, we generated sequential top-line growth as we delivered quality leads and clicks to our partners. We also drove significant year-over-year bottom line improvements, delivering a 1,060 basis point gross margin expansion and positive net income and adjusted EBITDA. This performance is a testament to the strength and success of our strategy, and our work in 2021 i