Adveritas (AV1) H2 2024 earnings summary

Executive summary

• Customer base grew by 22% in FY24, with revenue surpassing $4 million, up 41% year-over-year from FY23.

• Over $7 million in capital was raised, supporting global growth, product enhancements, and operational improvements.

• Focused expansion in the USA gaming and sports betting market, with 23 new contracts signed in this segment, generating $1.9 million in ARR.

• Product portfolio expanded with the launch of the Pmax solution for Google’s Performance Max and new features like Smart Ranges and an invalid traffic dashboard.

Financial highlights

• FY24 revenue: $4,156,993, a 41% increase from $2,949,228 in FY23.

• ARR at 30 June 2024: $6,090,000, up 67% from $3,650,000 at 30 June 2023.

• Loss before income tax: $(11,583,974), compared to $(10,907,989) in FY23.

• Overheads declined by 6% year-over-year due to cost reduction initiatives.

• Net cash outflow from operating activities: $(9,215,319), improved from $(11,260,817) in FY23.

Outlook and guidance

• Strong growth outlook for FY25, with a visible path to positive operating cash flow through cost control, increased contract pricing, and focus on high-margin verticals.

• Expansion into social media fraud detection, with monetization expected by end of September 2024.

• New agency partnerships expected to accelerate client acquisition and revenue growth.