23 Jul 2015 07:00
Crossrider plc
("Crossrider," the "Company" or the "Group")
Half Year Trading Update
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 an update on trading for the six month period ended 30 June 2015.
Trading update
The Group announces today that for the six months ended 30 June 2015 it expects to report revenues in line with its expectations at approximately US$41 million. This is a circa 52% increase compared with US$27 million for the six months ended 30 June 2014. The Group expects to report EBITDA for the six months ended 30 June 2015 of between US$5.3 million and US$5.7 million.
The web business has continued to produce strong operating margins and the Group expects to report growth in margins from mobile as a result of improved optimisation of monetised ads. As planned, we continue to invest in new technology such as Video, Real Time Bidding and Programmatic Trading as well as the continued integration of our existing technology across web and mobile.
We have continued to expand our reach by adding new traffic sources and customers on our mobile ad-exchange. The number of daily available ad spaces grew from 5.3bn in December 2014 to 7.5bn in June 2015. During June 2015 the Group delivered ads to 220 million users (December 2014: 200 million users).
The Directors expect the Group to meet its full year trading expectations. The balance sheet remains strong and the Board is confident in the Group's ability to execute accretive acquisitions.
Koby Menachemi, Chief Executive Officer of Crossrider, said:
"Crossrider is at the technological forefront of the rapidly growing digital advertising marketplace. Our position as a leading platform for the mobile advertising sector is delivering organic growth for the Group, which is reflected in the growth in margins we are seeing in mobile. This organic growth and continued investment in mobile has brought the Group to its strongest ever position and the Board is able to look to execute its acquisition strategy with confidence."
Notice of Results
The Company will announce its unaudited interim results for the six month period ended 30 June 2015 on 8 September 2015.
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For more information contact
Crossrider plc Koby Menachemi, Chief Executive Officer Mark Carlisle, Chief Financial Officer c/o Bell Pottinger
| +44 (0) 20 3772 2496 |
Shore Capital Bidhi Bhoma Toby Gibbs
| +44 (0) 20 7408 4090 |
Bell Pottinger David Rydell James Newman Sam Cartwright | +44 (0) 20 3772 2496 |
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