Digital advertising platform engage:BDR (ASX:EN1) says its multi-channel marketing approach is beginning to bear fruit.

In a trading update this morning, engage:BDR said November was its strongest revenue month since it listed on the ASX in December 2017.

Monthly revenue rose to $2.36m, a gain of 17 per cent from the previous month, leaving the year-to-date total at $15.4m.

Markets approved, with EN1 shares among the standout performers in morning trade.

 

Stronger momentum

Notwithstanding that the December quarter is typically the busiest time of the year for engage:BDR, the company said monthly numbers are well in excess of the $500k average it was booking at the start of the year.

For the 11 months to November, the company said top line growth was around $4m higher than the previous year.

While EN1 shares bounced this morning, the stock is trading at around a 50 per cent discount to its 12-month high of 5c reached in April and May.

The revenue numbers followed a broader trading update at the end of November, when engage:BDR highlighted the integration of its AdCel platform onto the TikTok social media app.

It also highlighted the rollout of its AI-based ad quality scanning technology, and had issued shares during the year to pay down debt and settle legacy liabilities in connection with ad fraud.

Once all liabilities have been settled, the company said its net working capital position (current assets less current liabilities) “should be closer to being positive” without the need to raise any additional capital.

 

In other ASX tech news today:

Cloud-based IT company Cirralto Limited (ASX:CRO) got on the M&A trail, announcing the 100 per cent acquisition of Appstablishment Software Group. The company said Appstablishment’s licensed technology is complementary to its existing operations and gives the company “ownership of key IP both domestically and internationally”. Subject to shareholder approval, the deal is expected to contribute additional annual revenues of around $500k to the Cirralto group.

Fintech payments company Identitii (ASX:ID8) has partnered with blockchain software firm R3 to run a trial of its Overlay+ ISO solution for participants using the R3 platform. ID8 said the trial will “replicate real-world cross-border payment scenarios allowing Identitii to demonstrate the benefits of Overlay+ ISO”. Shares in the company were down 10 per cent in morning trade at 33c.

And drone-tech platform ParaZero (ASX:PRZ) has signed a memorandum of understanding with risk-assessment and Insur-tech company SkyWatch.AI. The collaboration will “enable drone pilots using the SafeAir Parachute to receive reduced rates on their drone insurance”, the company said. Shares in PRZ were unchanged at 6c.

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