Technology

Adveritas reports record annual revenue driven by new customer contracts including Disney Streaming Services and Better Collective

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By Imelda Cotton - 
Adveritas ASX AV1 Better Collective Lux Escapes Disney Streaming Services revenue

Adveritas has attributed direct sales and marketing initiatives and the Google Cloud marketplace to its record enterprise level sales funnel.

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Ad fraud prevention software developer Adveritas (ASX: AV1) has posted a record annual recurring revenue (ARR) of $2.8 million driven by new customer contracts across its mobile, affiliate and pay-per-click (PPC) products.

It represents an increase of 173% on the previous period and was aided by three new blue-chip contracts signed with gaming business Better Collective, global online travel company Lux Escapes, and global media and entertainment business Disney Streaming Services.

The contracts add a combined $480,000 to Adveritas’ bottom line.

The revenue figures highlight the rapid progress and execution of the Adveritas growth strategy which is reported to be performing above historical rates.

The company has experienced a record enterprise level sales funnel driven by direct sales and marketing initiatives and the Google Cloud marketplace.

Adveritas annualised revenue 2022

Adveritas has grown annualised recurring revenue to $2.8m, an increase of 173% since June 30, 2021.

This sales funnel is expected to translate to increased trials, conversions and revenue.

Contracted clients to flagship product TrafficGuard are starting to trial other channels within the product suite to make it a key growth area for the company. The company said this cross-sell is a key focus in the current quarter and beyond.

Holistic solution

TrafficGuard provides a holistic solution for detecting and preventing ad fraud which is estimated to cost advertisers $127 billion a year.

The Software-as-a-Service (SaaS) product has become the market’s first omni-channel digital marketing anti-fraud solution offering mobile app install, Google pay-per-click (PPC), affiliate and social verifications.

Mobile app verification has seen some of Adveritas’ larger global clients pay as much as $180,000 per year to protect against misattributed or fake installs of their apps.

Google PPC was launched in 2020 and has over 4,000 advertisers signed to the service.

Any company using Google AdWords is a target customer, with up to $147 billion spent on that advertising medium per year.

Affiliate verification is designed to eliminate internet misattributions and ensure clients are paying for real conversions to their website while the newly-launched social verification ensures clients using Facebook advertising are mitigating invalid traffic.

Platform of choice

Adveritas co-founder and chief executive officer Mat Ratty said TrafficGuard is fast becoming the measurement and verification platform of choice.

“Companies are endorsing our technology and choosing TrafficGuard over our competitors’ , which shows that TrafficGuard is competing against and beating ‘industry leaders’,” he said.

“Our recent contract wins reinforce the strength of our technology in adding value to companies investing in digital advertising.”

Mr Ratty said the contracts present a growth opportunity to expand the company through affiliate partner platforms.

“At the same time, progressing with Google and Facebook as key channels to sell into creates enormous global market opportunities which are expected to scale in a quicker way than organic direct sales,” he said.

“We are already seeing early take-up on both channels with a building pipeline on the Google Cloud marketplace and early adopters via Facebook.”