Taptica types up top results as users turn to mobile
(ShareCast News) - End-to-end mobile advertising platform provider Taptica announced its full year results for the 12 months to 31 December on Monday, with revenue increasing by 66% to $125.9m.
The AIM-traded company said gross profit more than doubled to $46m, with an improvement in its gross margin to 36.5% from 27.8%.
Adjusted EBITDA surged to $25.7m from $7.4m, and the board reported a net cash inflow from operating activities of $20.3m, up from $6.2m in the prior year.
It declared a final dividend for 2016 of $0.0432 per share, making a total dividend for the year of $0.1011, rising from $0.00784 for 2015.
Cash and bank deposits as at 31 December were $21.5m, compared to $9.5m at the interim, and after making a total cash payment of $16.5m for three main items.
The board said those items were full consideration for the AreaOne acquisition of $7m, a share buyback of $5.5m, and a dividend payment of $4m.
"This year we have significantly increased revenue, improved margins and remained highly cash generative," said chief executive officer Hagai Tal.
"We increased the number of advertisers on mobile to over 600, which included household names such as Amazon, Disney, Expedia. Cartoon Network and others.
"We have also established strong foundations in the Asia-Pacific region, which is a key growth market."
Tal said Taptica entered 2017 at a run rate significantly higher than at the equivalent period last year, as it continued to benefit from the investment being made into mobile advertising by corporates and advertising agencies.
"The strength of our offer lies in our proprietary platform and ability to collect accurate data which enables us to deliver efficient and effective campaigns, which we will continue to do for all our clients.
"With consumers continuing to increase their use of apps and accessing the internet on their mobile most of the time, we anticipate existing clients growing their ad spend with Taptica as well as new advertisers entering this market," Tal explained.
He also said the board expected to receive increasing demand from the Asia-Pacific region with demand from US and Europe set to continue.
"As a result, the board remains confident of delivering strong year-on-year revenue growth in the year ahead."