engage:BDR (ASX:EN1), a digital advertising firm that offers cross-device video and display advertising solutions, has just released its financial commentary for the 2019 calendar year. According to the company’s management, 2019 was a pivotal, successful and profitable year for EN1.
2019 full year growth highlights include:
- Revenue increased 50% to $17.1M (from $11.4M in 2018)
- EBITDA profit increased to $1.7M (from -$7.3M in 2018)
- Gross margin increased to 54% (from 38% in 2018, 42% growth)
- Gross profit increased 216% to $9.3M (from $4.3M in 2018)
- Net assets increased to $3.4M (from -$6.6M in 2018)
- Net tangible assets grew to $384K (from -$9.1M in 2018)
|—————- below the line, non-cash expenses ——————|
|Depreciation & Amortisation||$882K|
|Share Based Payment Expense||$327K|
|Loss after Taxes||-$1.21M|
EN1’s management also announced that 100% of the initial milestones and 100% of the subsequent, upgraded milestones were achieved on or before schedule in 2019. In addition, EN1 achieved seven-figure profitability with 50% revenue growth and 42% gross margin growth.
In 2019, total staff costs decreased 43% YoY and the operating and administrative expenses (including tech infrastructure) reduced about 26% from the same period in 2018.
Ted Dhanik, Exec Chairman & CEO, commented on the news:
2019 was a pivotal year for EN1. At the beginning of the year, we set out to move a mountain with just a strong plan…I believe we moved several mountains by believing in and daily execution of that plan. We grew revenues 50%, grew gross margins 42%, achieved profitability and consistently signed key customers and new partnerships, previously unattainable.
We now have a blank slate; we are positioned well with a strong balance sheet, key and unique partnerships and most importantly, the winning team. We have a head start on 2020 with about 3 times the revenue we had this time last year; we’re focused on keeping that momentum growing. I’m looking forward to enjoying greater wins with you in 2020!
- Net assets increased to $3.4M from -$6.6M (2018);
- Net tangible assets also improved to $384K from -$9.1M (2018);
- Trade and other payables decreased to $5.8M from $12.9M (2018), or 66% less;
- Cash improved to $1.8M from $320K (2018);
- Trade and other receivables increased to $5.8M from $2M (2018), or 290%.
As of today, the Australia-based company has generated about 300% of 2019 (revenue), year to date:
- In January 2020, EN1 achieved nearly 281% of January 2019;
- EN1’s February is on track to exceeding January 2020, and nearly 300% of February 2019;
- Gross margins grew from 38% in 2018 to 54% in 2019.
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