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