23 Jan 2015 07:00
Crossrider plc
("Crossrider," the "Company" or the "Group")
Trading Update and Notice of Results
Crossrider (AIM: CROS), the creator of digital advertising platforms specialising in monetising web and mobile media through the use of big data, today provides the following year-end trading update.
As announced on 18 December 2014, the Company set out better than expected trading for the full year to 31 December 2014 ("FY2014") driven by organic growth of the Group's existing service offering. The Company now expects to report revenues for FY2014 of approximately US$71 million and to report EBITDA in line with the revised higher market expectations.
The organic revenue growth has primarily been driven by the Group's web division and the success of its app distribution business. The mobile division has also continued to successfully grow revenues as planned, as well as adding additional capabilities to its Ajillion ad-serving and ad-exchange platform to ensure that its technology remains at the cutting edge of this rapidly growing market.
During December 2014 the Group delivered ads to 200 million users (September 2014: 150 million users), monetising an average of 1.8 billion ad spaces per day (September 2014: 1.6 billion ad spaces per day).
Following the Company's IPO in September 2014, the Group continues to have a strong balance sheet. The Directors remain confident in the execution of the Group's strategy of increasing traffic to its platforms, improving the quality of its data insights and expanding into new geographic regions through investment in accretive acquisitions and its existing operations.
Koby Menachemi, Chief Executive Officer of Crossrider, said:
"The Group's portfolio of products and services continues to perform strongly. In particular its web extensions and app distribution divisions have traded above expectations therefore creating additional firepower for us to focus on the opportunity presented by our mobile strategy. We continue to look to the future execution of both our organic growth and M&A strategy with confidence."
The Company will announce its maiden preliminary results for FY2014 on 10 March 2015.
- Ends -
For more information contact
Crossrider plc Koby Menachemi, Chief Executive Officer Mark Carlisle, Chief Financial Officer c/o Bell Pottinger
| +44 (0) 20 3772 2500 |
Shore Capital Bidhi Bhoma Toby Gibbs Jamie Cameron
| +44 (0) 20 7408 4090 |
Bell Pottinger David Rydell Olly Scott James Newman | +44 (0) 20 3772 2500 |
About Crossrider
Crossrider is a creator of digital advertising platforms specialising in monetising web and mobile media through the use of big data. The Company's web and mobile platforms power ad networks, agencies and direct publishers and enable the delivery of relevant digital advertising through the analysis of big data: making online marketing significantly more efficient and cost effective.
The Group operates web and mobile platforms which generate big data, enabling the development of a proprietary ad serving algorithm and engine that can extract value from this data to deliver relevant advertising to targeted users.
Crossrider's vision is to become the de facto standard platform for delivering relevant web and mobile adverts to billions of people, powering the next generation of digital advertising.
www.crossrider.com