Join our daily newsletter At The Bell to receive exclusive market insights
- engage:BDR (EN1) has had its strongest February since listing on the Australian Securities Exchange
- It reported consolidated revenue of $1.7 million in February, which is three times (322 per cent) higher than this time last year
- engage is also showing month on month growth, with February revenues well ahead of the $1.55 million made in January
- engage is up 10.5 per cent on the market this afternoon, trading at 2.1¢ apiece
engage:BDR (EN1) has had its strongest February since listing on the Australian Securities Exchange.
Today, the company has delivered a trading update on the group’s financial performance in February.
It reported consolidated revenue of $1.7 million in February, which is three times (322 per cent) higher than February 2019.
engage is also showing month on month growth, with February revenues ahead of the $1.55 million made in January.
The increase in revenue has been accompanied by a strong margin improvement, with February gross profit margins at 41 per cent, compared to 36 per cent in January.
Just last week, the digital advertising company saw its revenue increase by 50 per cent over the last year.
Additionally, engage reported positive earnings before interest, taxes, depreciation, and amortization (EBITDA) for February. It said its operating expenses were $7.76 million for 2019 (about $647,000 per month.)
The company also mentioned that the majority of the advertising industry expects 65-70 per cent of its revenues in the second half of the year (July-December).
engage is up 10.5 per cent on the market this afternoon, trading at 2.1¢ apiece at 1:31 pm AEDT.
