Join our daily newsletter At The Bell to receive exclusive market insights
- Digital advertising company engage:BDR (EN1) is reporting a solid month-on-month revenue bounce for early May as pandemic effects begin to wane
- engage:BDR has recorded a 20 per cent jump in daily revenues through May compared to the same period in April
- Remarkably, the company has recorded its strongest first-half revenue figures since listing on the ASX
- The second half of the calendar year is typically the source of around two-thirds of advertising revenues, and the company is envisioning a similar jump in 2020 even amid the ongoing coronavirus pandemic
- engage:BDR is up 10 per cent today, to 1.1 cents per share
Digital advertising company engage:BDR (EN1) is reporting a solid month-on-month revenue bounce for early May, due to increasing advertiser demand.
May blooms
engage:BDR has recorded a 20 per cent jump in daily revenues through May compared to the same period in April.
Company management says it expects revenues to continue to normalise for the rest of the month and into June as large parts of the U.S. begin to reopen and advertisers start spending again.
While the figures provided are as yet unaudited, indications of revenue growth from April’s $525,000 to May’s $630,000 still show a strong bounce back, even if the new figure is adjusted down slightly on audit.
Outlook
Remarkably, the company has recorded its strongest first-half revenue figures since listing on the ASX.
While this was projected before the pandemic hit, the fact EN1 has still managed to surpass prior year numbers shows the company is on a solid trajectory in terms of its market presence and platform.
The second half of the calendar year is typically the source of around two-thirds of advertising revenues, and engage:BDR is envisioning a similar jump in 2020 even amid the ongoing coronavirus pandemic.
engage:BDR Executive Chairman and CEO Ted Dhanik says it’s pleasing the company has so far suffered little from the COVID-19 related downturn.
“We are seeing daily improvement across our key metrics, which is a strong indication that the worst of this global crisis could be behind us now,” he stated.
“Large U.S. states have opened, and many others are partially opening. I expect to see stronger demand in the coming weeks, which will translate to greater revenue for the company,” Ted continued.
While there’s still huge uncertainty across global markets as to potential future impacts of the pandemic, it seems engage:BDR is in a strong enough position to weather the storm.
engage:BDR is up 10 per cent today, to 1.1 cents per share as at 11:30 am AEST.
