Adaptive Medias Reports Third Quarter Financial Results
IRVINE, CA-(Marketwired - Nov 19, 2013) - Multi-channel audience and content monetization company, Adaptive Medias, Inc. (OTCQB:ADTM), a leader in programmatic advertising across mobile, video and online display, today announced its third quarter financial results. The Company recorded $373,737 in top-line revenues, up from $27,314 in the 2ndÂ Quarter and $0 in Q3 2012.
“The company is in a significantly stronger position today than it was just a few months ago,” said Adaptive Medias CEO, Qayed Shareef. “Longer-term shareholders have been waiting to see sales accelerate, and that happened in Q3 with revenues growing almost 14 times the Q2 report while maintaining gross margins at greater than 40%. Investors are beginning to see the benefit of the new leadership and business focus, and can expect to see continued growth in Q4 and beyond. The Q4 trend is solid, and we expect to show particularly strong growth in the mobile and video segments of the business.”
Adaptive Media, through its core content monetization platform and technology, provides mobile app developers, publishers and video content developers one of the only end-to-end monetization platforms driven by programmatic algorithms. The company provides these unique capabilities to monetize content efficiently across multiple marketing channels, including mobile, video and online display advertising.
According to market research firm eMarketer, the worldwide digital advertising market is expected to exceed $118 billion this year, and grow to $173 billion by 2017. eMarketer forecasts the worldwide mobile and online video advertising market will exceed $16 billion and $4 billion, respectively, in 2013, and is projected to grow to approximately $63 billion and approximately $9 billion, respectively, by 2017.
Since stepping in as CEO in July 2013, Shareef has overseen the Companyâ€™s efforts to:
- Focus the business around Adaptive Mediaâ€™s programmatic digital advertising marketplace;
- Expand partnerships on both the “supply” and “demand” sides of the business, as well as the Companyâ€™s key strategic relationship with Entrepreneur Media Inc. on their joint-venture, TrepLabs (www.treplabs.com);
- Explore Mergers & Acquisition opportunities including the execution of a Letter of Intent to acquire Ember, Inc. (www.goember.com). The deal is on track to close this quarter;
- Dramatically reduce corporate and other general and administrative expenses for under-performing business initiatives;
- Decrease legacy debt and other liabilities on the Balance Sheet; and
- Restore confidence in the Company with the investor community at large.
“Weâ€™ve made great strides since July, but thereâ€™s a lot more work to do,” Shareef concluded. “Looking ahead a bit into 2014, Adaptive Media will help publishers with quality content, users and monetization needs sit side-by-side with the right advertising partners. Weâ€™ll do this through a complex set of discovery technology solutions, driven by patents, and efficient algorithmic data that cohesively interact across multiple devices. We want to compete in any digital marketing environment where advertising, audience and content come together.”
ABOUT ADAPTIVE MEDIA
Adaptive Media is a programmatic audience and content monetization provider for website owners, app developers and video publishers who want to more effectively optimize content through advertising. The company provides a foundation for publishers and developers looking to engage brand advertisers through a multi-channel approach that delivers integrated, engaging and impactful ads across multiple devices. Adaptive Media meets the needs of its publishers with an emphasis on maintaining user experience, while delivering timely and relevant ads through its multi-channel ad delivery and content platform.
For more information, please visit:Â www.adaptivem.com. Follow us on Twitter at @adaptive_m.
Safe Harbor Statement:
This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Adaptive Medias, Inc. has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “potential” and similar expressions. These statements reflect Adaptive Mediasâ€™ current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Adaptive Mediasâ€™ actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Adaptive Medias undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.