YouGov - Trading update and acquisition
YouGov has issued a detailed trading update ahead of its full year results, now set for publication on 19 October, post a slight delay on finalising the tax position. Revenues of £169m are up 18% on an underlying basis, with an improvement in adjusted operating margin from 14.3%% to 15.1%, broadly as expected. YouGov also announced the acquisition of UK adtech company Rezonence (price undisclosed), which should facilitate data acquisition from a wider range of participants beyond panel, at lower cost. We will update our numbers and add FY23 forecasts post the formal results. The group is making good progress across all geographies, but notably in the key US market.YouGov is a data and analytics company. All of Co.'s products and services are underpinned by its data infrastructure, the principal elements of which are the Cube (Co.'s connected data library) and Crunch (Co.'s data analytics and visualisation tool). Co.'s data products include: YouGov BrandIndex, its daily brand perception tracker; YouGov Profiles, its planning and segmentation tool; and YouGov Data Applications, its data solutions. Co.'s data services include YouGov Omnibus, which delivers next-day answers, and its custom research includes YouGov Custom Research, a quantitative and qualitative research.
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