Improved Financial Performance. Strategic Review announced.
H1 FY22 Financial Results
Adslot’s H1 FY22 results delivered improved financial performance, including continued growth in key revenue lines, a further reduction in costs, and an EBITDA profit.
This is in part the result of the significant progress on key commercial opportunities executed in H1 – in particular, the partner marketplaces for GroupM and IPG (Kinesso), with the GroupM private marketplace driving record TTV in the UK market in the December 2021 quarter.
These, and other potential partner marketplaces, are expected to be the primary driver of trading growth for Adslot Media in future quarters and years.
Strategic Review of Operations
Following unsolicited inbound interest, the Company has today announced a strategic review of operations, with the objective of maximising shareholder value.
As the programmatic market continues to undergo a change in several forms (ie. decline of 3rd party cookies; supply chain compression; flight to quality; consolidation around access to publisher inventory; competitive rivalry for competitive assets, etc.), and given the unique industry position and technology assets Adslot holds in this environment, the Company has decided to review various strategic options available to unlock and enhance value for shareholders.
There is no certainty that the strategic review will result in any particular outcome or transaction, but the Company will continue to update the market in accordance with its continuous disclosure obligations.
Founder & Executive Chairman