Adveritas annualised revenue up 78% YTD and there’s even more growth on the horizon
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Adveritas (ASX:AV1) recently invested in its sales and marketing capabilities and it’s paying off – with annualised revenue up 78% for the year-to-date at over $3 million.
The company says there’s increased global market awareness of its ad fraud prevention software TrafficGuard to clients across all four quadrants – Google PPC, Mobile app download, Affiliate and Social. Importantly, Adveritas continues to succeed in winning new clients over its billion dollar competitors across all of these channels.
And this revenue growth is underpinned by new customer contracts across both PPC and mobile/affiliate solutions along with upsells to existing clients.
As part of Adveritas’ (ASX:AV1) global rollout, TrafficGuard has been successfully integrated onto RavenTrack, a European online gaming affiliate tracking platform.
RavenTrack helps brands and advertisers maximise the return on ad spend on their affiliate marketing with invalid traffic reduction and ad fraud prevention and first customer trials have already begun, with MrQ trailing the TrafficGuard through RavenTrack.
“Affiliate advertising is a large and essential part of our performance marketing strategy, but we are all of course aware of the hidden cost of fraud and the complexity of dealing with partners and managing compliance in our programme. MrQ is committed to tackling this fraud and managing compliance using technology to grow as efficiently as possible,” head of acquisition James Booth said.
“RavenTrack’s commitment to partnerships for value added functionality in the affiliate space is one of the many reasons we chose them and this partnership with a world class fraud detection and prevention software like TrafficGuard is testament to that.”
Adveritas is confident that several contract upgrades by existing customers like Disney, Lux and William Hill show “significant potential” for further upsell across the customer portfolio and even potentially double the revenue line.
In fact, co-founder and CEO Mathew Ratty is confident that each quarter ahead will experience stronger growth.
“Up until now, our growth has primarily come from new clients signing with TrafficGuard on one product,” he said.
“However, in addition to growth from new customers, we are now also seeing existing customers being upsold and cross sold to other products. This is resulting in higher annual contract values when it comes time to renewing.
“Cross selling and upselling will be an essential part of our growth journey over the next few years as we have built out this omni channel offering.
Throughout Q4 FY22 and Q1 FY23, TrafficGuard’s user journey and user interface have been redesigned to allow for stronger in-platform upgrade paths for Freemium users – with over 4,500 sign-ups just waiting to be commercialised.
“During the current quarter our focus is to begin to monetise the TrafficGuard self- serve product whilst continuing to support our enterprise strategy through key channel partnerships like RavenTrack and Google Cloud Marketplace,” Ratty said.
“Our self-serve product has over 4,500 customers signed to the Freemium model and, through a marketing led approach, we are confident that not only will we grow the amount of Freemium users on the platform but also convert a large number of those to paying clients.
“With SME and mid-market representing a large prospective cohort of millions of businesses, it has become a key priority for the company to enable rapid growth through the high margin low touch point product.”
The next evolution of the company’s ad fraud prevention software is set to be deployed in Q2 FY23.
This article was developed in collaboration with Adveritas, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.