Digital Globe reports record earnings in first half

The AIM-traded provider of online customer acquisition solutions saw year-on-year revenue grow at least 13% in the six months to 31 December, with gross margins in excess of 30% and double-digit adjusted EBITDA margin percentage.

Digital Globe's board said it expected revenue for the half to be in the range of $22m-$24m (£15.4m-£16.8m). EBITDA was expected to be between $2.2m and $2.4m, which would represent an increase of at least 400%.

"We are delighted with the group's performance in the first half with our second consecutive, record half year period. Our revenue for the 12 months to December 2015 of $44m-$46m will mark the strongest 12 month period in the group's history," said CEO Jeff Cox.

"We continue to reap the benefits of the investments made in our business in 2015 through a broadening of our customer base and substantial growth in new verticals. With our strong balance sheet and continued profit generation we are confident in our strategy and ability to execute on our growth plans," he added.

Digital Globe's board said it was confident in meeting its full-year market expectations as it entered its historically stronger second half.

It ended the half-year with a cash balance of $0.6m, and $0.07m drawn from its $3m credit facility.