Pureprofile (ASX: PPL) has updated its shareholders and market analysts regarding its recent activities, as the company prepares to report its financial metrics at the end of the 2018 financial year.
The company hails itself as a “consumer-to-brands technologist company”, that is going from strength to strength after undergoing several internal changes over the past year.
Its primary business is to connect brands with customers across the world by finding, understanding and engaging them through direct-to-consumer technology platforms.
According to the company, its speciality lies in data and insights, programmatic media and performance media and in delivering the “next-generation of marketing solutions” for more than 700 brands, publishers and research groups worldwide.
The company said that despite a “challenging year” many of its distractions had now been resolved. With the restructuring of its cost base and reshuffling of several key people in its executive team now complete, CEO and managing director, Nic Jones said that the next financial year “will see a marked turnaround in financial performance.”
Pureprofile welcomed Ms Melinda Sheppard as the company’s new chief financial officer yesterday which is expected to provide further leeway for current CEO to focus “on the commercial side of the business,” according to a company statement.
The top-tier boardroom reshuffle is expected to continue with other executive appointments, including a Head of Marketing and Communications and Country Head for the UK/EU, are likely to be announced within the coming days.
“This will provide a strengthened executive team, focused on growing revenues in FY2019, while maintaining the operating cost base of $20 million,” the company said.
Pureprofile said that it has achieved its intended monthly operating cost base to deliver its financial year target of $20 million, a key goal it had outlined in last year.
Also, the company reported a gross margin figure of 49% in the second half of this financial year compared to 44% in the first half.
As a result, the company’s EBITDA has been “consistently positive” since March 2018 thereby showing early indications that the company has undergone a mid-year turnaround.
One keynote factor that could potentially become material for the company’s operations and price sensitive for its stock in the coming weeks was the announcement that Pureprofile has now “progressed to sign-off stages of new domestic and international partnership opportunities” and that it would be updating the market shortly.
Following this morning’s news, investor sentiment helped Pureprofile shares soar 101% to $0.18 per share in morning trade.