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- Adveritas (AV1) trades green on the ASX after releasing an early business update for the June 2021 quarter
- With still a week to go before the end of the quarter, June quarter annualised revenue already eclipses the March 2021 quarter by 132 per cent
- It comes on the back of $350,000 worth of contracts signed since the end of March, with several more potential customers trialling AV1’s TrafficGuard product
- On top of this, Adveritas’ freemium subscriber base grows by 23 per cent to 2600 users since the end of March
- Shares in Adveritas are up 9.37 per cent and trading at 10 cents each at 3:43 pm AEST
Business advertising specialist Adveritas (AV1) is trading green on the ASX
today after announcing an early business update for the June 2021 quarter.
With still a week to go before the end of the quarter, Adveritas said June quarter annualised revenue has already eclipsed March quarter revenue by some $350,000.
Adveritas’ annualised revenue from enterprise and mid-market customers was
roughly $150,000 for the March quarter of 2021. With $350,000 worth of contacts
signed since the end of March, however, this annualised figure has grown by 132
per cent.
On top of this, the company said it has several potential customers on trial for its TrafficGuard pay-per-click product and mobile ad fraud protection offering.
Meanwhile, Adveritas’ freemium subscriber base has grown by 23 per cent to 2600 users since the end of March. The freemium subscription model means users can access the basic TrafficGuard product for free but must pay a fee for advanced features.
According to the company, this freemium subscriber base for TrafficGuard is a key lead indicator of growth. Adveritas said the increase in freemium customers has been driven by an increase in marketing channels leading to a greater awareness of TrafficGuard’s fraud prevention capabilities.
Adveritas Co-Founder and CEO Mat Ratty said the value that TrafficGuard’s ad
fraud prevention tech creates is evident by the rapid growth the company is
experiencing.
“The increasing number of companies that are utilising our technology
are market leaders in their sectors and countries, and for them, digital
advertising spend is critical to driving customer growth and engagement,”
Mr Ratty said.
“TrafficGuard optimises digital advertising spend by ensuring that clients’ advertisements reach real people with the potential to become real customers.”
The company said it is monitoring the conversion rate from freemium subscribers to paying customers so it can scale its marketing initiatives as required.
As it stands, TrafficGuard has 190 paying clients.
Shares in Adveritas were up 9.37 per cent and trading at 10 cents each at 3:43 pm AEST. The company has a $37 million market cap.
