Interim Results August 30th 201830 Dec 2018 01:33
Liam Galin, Chief Executive Officer of Matomy, said:
"Matomy has covered tremendous ground in its journey of transition. We remained laser-focused on our core, high potential activities and exited cash bleeding ones that distracted us from this focus. As such, revenue sources and associated expenses have changed dramatically, and year-to-year comparisons do not tell the whole story and require clarification.
Our main activities, domain monetization (Team Internet) and in-app advertising (Mobfox), once adjusted for special occurrences*, grew by 29% and 11% respectively in H1 2018 compared to H1 2017.
The industry is threatened by rapidly growing fraudulent traffic that misrepresents online advertising impressions, clicks or data events. Matomy took, and continues to take decisive non-compromising actions, including the use of internal and external tools, technology and partner cooperation, to ensure high quality, sustainable, and "clean" revenue. These efforts to proactively eradicate traffic that may not meet compliance requirements from the Group's platforms, including the removal of suspected publishers and advertisers and their associated income, affected the H1 revenues. At the same time, these same efforts significantly raised industry confidence in Matomy's platforms, as demonstrated in recently published market trust indexes.
We are encouraged by the growth and potential of our core business units and are working to scale these activities even further, as we reshape our company and technologies and evolve with our industry."
Sami Totah, Matomy Non-Executive Chairman of the Board, commented:
"Matomy has evolved as a company and is focused with tenacity and determination on core activities. The changes we have implemented will be the foundation for a stronger growth company."