Israeli ad platform hit revenues of $126m, added Amazon, Disney, and Expedia as customers
Companies: Nexxen International Ltd.
Mobile ad platform Taptica released its full-year results on Monday, reporting a whopping 66% revenue growth to $125.9m, a doubling of gross profit to $46m, and adj EBITDA increasing more than 340% to $25.7m.
The AIM-listed firm, which is based in Israel, said it had seen a particularly strong performance in its mobile operation in its first full-year as a "mobile-focused" business, with a significant increase in revenue and a nice improvement in its gross margin resulting in impressive cash generation.
Taptica's mobile business accounted for 86% of revenues during the year, a 25% jump compared to the 61% recorded in 2015. The United States remains the largest region in terms of revenue generation, but the business is growing in Asia-Pacific, too.
"Increased its international presence with the establishment of an office in Seoul, South Korea and a partnership with Adways Korea; and, post period end, a partnership with Adinnovation in Japan and an office in London, UK"
As a result, Taptica said it will pay a final dividend of 4.32 US cents, bringing the total divi for the year to 10.11 US cents (8.1p). This gives a yield of 2.65% and is a hefty jump on 2015's payout of 0.8 US cents.
CEO Hagai Tal said was confident the firm would deliver strong YoY revenue growth in the year ahead, after significantly increasing revenue, improving margins and remaining highly cash generative.
"Taptica entered 2017 at a run rate significantly higher than at the equivalent period last year as it continues to benefit from the investment being made into mobile advertising by corporates and advertising agencies."
Mr Tal added that he believes the strength in Taptica's offering is its proprietary platform and ability to collect accurate data to deliver efficient and effective campaigns.
During the year, Taptica increased the number of advertisers on mobile to more than 600, with new brands like Amazon, Disney, Expedia, Cartoon Network and others all signing up.
Shares in Taptica rose marginally on Monday to 299p. The firm is up nearly 280% in the past year, but still has a relatively modest market cap of just £180m.
