Marketing technology company engage:BDR (ASX: EN1) has posted a huge 323% increase in revenue growth for the three months to the end of March 2019 as a result of activating programmatic publishers.
The company said programmatic revenue had scaled significantly stronger than management had initially anticipated, with the average result for the period totalling about $48,000 per day.
This represented a massive 323% increase on daily average revenue at the start of the quarter.
Furthermore, by the end of March, the company said the Q1 daily average was about 212% higher than the average daily revenue for Q4.
“The close of Q1 2019 was the strongest close of a quarter for the programmatic product in the past 12 months,” engage:BDR told shareholders.
The positive result comes after the company recently extended the reach of its growing programmatic ad platform and activated dormant publishers.
More revenue growth on the horizon
Engage:BDR plans to continue scaling its revenue, targeting a near-term scale potential of about $52,000 per day with the positive momentum flowing through into the second quarter.
According to the company, the first seven days of April have yielded healthier operating results than expected.
“Management is pleased to note this has been the strongest start for the programmatic product to any quarter in company history; revenue was exponentially greater than the start of the first quarter of 2019 (228% better).”
According to engage:BDR about 65-75% of annual revenues could be contributed by the second-half of the year due to holiday spending, while the first and second are historically quiet.
Engage:BDR plans to update the market about the moving averages for the second quarter given the last two days have yielded significantly greater scale than previously reported averages.
Engage:BDR, which has recently been working diligently to complete the integration of the StartApp programmatic buyer integration, has pocketed about $200 million in revenue since its inception in 2009.
Earlier this year, engage:BDR’s management team published a list of priority activities for the coming 12 months focused around profitability, including new client relationships and ongoing product development.
Engage:BDR’s shares jumped 13.3% to $0.051 in morning trade.