Adveritas reports record high annualised revenue of $3.5m
Ad fraud prevention company Adveritas (ASX: AV1) has reported continued growth in annualised revenue to a record high of $3.55 million underpinned by several new TrafficGuard mobile and pay per click (PPC) contracts.
The figure represents a 41% increase since last July and a 23% increase since January.
While the new contracts are not individually material, their combined value is believed to be significant and a reflection of Adveritas’ omni-channel strategy.
New clients including mobile games platform Skillz and Australian online marketplace MyDeal have signed up for TrafficGuard to reduce digital ad fraud while British gambling company and existing client William Hill expanded its contract by 40% to protect additional advertising spend.
Unwavering commitment
Adveritas co-founder and chief executive officer Mat Ratty said the increased revenue reflected an “unwavering commitment” to growth and innovation.
“It is a testament to the hard work and dedication of our exceptional team… the trust our clients place in our solutions and strategies to stop ad-fraud and increase the return on investment from their digital marketing programs.
“Our expanding client base continues to highlight our ability to attract top-tier clients across multiple sectors and leverage upsell opportunities to drive revenue.”
New products
Adveritas has invested in the development of new products and features which will improve its fraud detection capabilities across various industries, customer segments and channels, ultimately increasing the average revenue per user.
One of these is Google’s Performance Max (PMax) goal-based, artificial-intelligence powered campaign product which will be released during the September quarter.
More than half of TrafficGuard’s PPC client base has requested PMax as an additional service.
Further revenue growth
Mr Ratty said PMax is expected to contribute materially to further revenue growth over the next financial year.
“It presents an opportunity for TrafficGuard to leverage PMax, aligning solutions with the evolving needs of businesses and maximising their success in an increasingly dynamic digital marketing environment,” he said.
“We are confident that the release of Google PMax will bring clients yet another cutting-edge digital ad fraud protection product to help achieve their business goals.”