LONDON (Alliance News) - Phorm Corp Ltd said Friday that it had seen revenue nearly double in the second half of 2014, driven by a jump in its number of daily unique users, and an increase in the number and size of publishers on its platform driving up its number of advertising requests.
Phorm operates an opt-in online advertising platform that protects users' privacy whilst making content and advertising more relevant to them.
The company said revenue for the second half of 2014 was USD1.05 million, nearly doubled from the USD528,800 it saw in the first half of 2014, and quadrupled from the USD251,300 it posted for the second half of 2013.
Peak daily unique users was 148.1 million for the second half, up from 14.1 million a year before and 37.8 million in the first half. Total advertising requests rose to 202.8 billion in the second half, compared to 22.3 billion a year before and 72.9 billion in the first half.
Phorm said it expects revenue to build rapidly with prices and margins increasing following the new year holiday period, and said that large commercial campaigns have now been allocated in budgets for 2015.
The company is undertaking a cost-reduction programme, and said that, as a result of this, it will be scaling back its operations in Turkey significantly, and moving towards a remote "cookie" based platform. A cookie is a small piece of data sent from a website that is stored in a user's web browser, used to track or record a users activity.
Phorm said it is now delivering both video and mobile advertising, and has recently launched its machine learnings algorithm which it expects to further enhance its performance.
"The combination of the strong growth expected in our major markets, the cost reduction plan and the new product launches means that the company remains optimistic about its commercial outlook for 2015," Phorm said in a statement.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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