22 August 2019

FY19 Financial Results – A Record Year After a Successful Reset

Dear Shareholder,

FY19 saw a major turnaround in financial results following the Company reset in late February 2018, and following a full financial year of disciplined execution focused on three things:
  • Returning the Symphony business to growth (growing Licence Fees);
  • Returning the Adslot Media business to growth (growing Trading Fees); and,
  • Reducing operating costs.

The Company successfully achieved its strategic objectives in FY19, delivering strong revenue growth while simultaneously reducing costs, resulting in vastly improved EBITDA and NPAT.

FY19 Results Highlights:

  • Group Revenue up 28%;
  • Revenue from Continuing Operations up 40%;
  • Licence Fee revenue up 49% (exceeding guidance of 43.1% growth);
  • Trading Fee revenue up 104%;
  • Operating Costs reduced by 10%;
  • EBITDA Loss reduced 59% from -$6.34m in FY18 to -$2.62m in FY19; and,
  • 40% improvement in NPAT.
Now we have the Company firmly back on track and headed in the right direction, we will shift our focus firmly towards growing the Adslot Media business in FY20, focussed on the following key objectives:
  • executing MSAs with the six global agency holding companies and activating their demand on Adslot Media;
  • expanding sources of supply (catalogue of publishers’ inventory) on the Adslot Media marketplace to meet growing demand; and,
  • a continued focus on disciplined cost management.

Please take a moment to download the Full Results Presentation by clicking here, or on the link at the bottom of this email.

We will not be undertaking an investor “results roadshow” at this time, due to our intense focus on executing MSAs and Ben being in the US for the next few weeks.  However, we aim to undertake an investor roadshow again in late October / early November 2019 following the release of the September 2019 Quarterly Trading Update.

In the meantime, I would like to thank all our loyal shareholders for your continued support over the last 12 months as we reset the business, positioning it for future success – especially those shareholders who participated in the two capital raisings during the financial year.

Wishing you all a great weekend ahead.

 

Kind regards,

Andrew Barlow
Founder & Executive Chairman

 

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