Corporate: MySpace Tom’s adtech company has exceeded its 2018 revenue already

US-based ad agency Engage BDR (ASX: EN1) suffered from last year’s capital crunch, but 2019 has been a more positive year.

Today Engage announced it has already exceeded 2018 revenue in just three quarters of 2019.

The September quarter was particularly positive, with revenue at $4.6 million;  up 16 per cent from the June quarter and 46 per cent from last years’ figure.

The company, run by MySpace founders Tom Anderson and Ted Dhanik, also made a gross profit of $601,293 in the month of September.

While its net cash from operating activities was $701,137 in the red, this was nearly half of what it was a year ago.

The company did not make estimates about its full year revenue, but noted that the remaining 3 months of the year were amongst its largest months for revenue.

Shares climbed 8 per cent this morning to 2.7 cents. However, it remains substantially below its late-2017 IPO price of 20 cents.

MySpace Tom makes his ASX debut with a 25pc gain

engage:BDR shares rocket 25pc as it outlines the path to profitability

In other ASX small cap corporate news today…

Remember Tribune Resources (ASX: TBR) – that gold miner which paid a $3.70 dividend last year? It is paying a dividend again this year, although this time it’s only 20 cents. This is the second year in a row Tribune has paid a dividend. Like last year it credited production figures but also high gold prices.

Namoi Cotton (ASX: NAM) has told its shareholders that drought is hurting the bottom line. Namoi anticipates an earnings hit of  between $2.5-$3.5 million in its half yearly results as a consequence of the drought’s hit on cotton production. CEO Michael Renehan said it has been an ‘extremely challenging year’ for the company.