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Taptica confident of another year of eye-bulging growth

Despite raising profits guidance, the mobile advertising platform operator still managed to surprise the market a little with its 2016 numbers
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Going mobile

Mobile advertising platform operator Taptica International Ltd (LON:TAP) managed to squeeze a bit extra into its full-year results even after raising guidance twice.

In January the company had advised the market to expect 2016 revenues of not less than US$125mln, and the company kept this promise with revenues of US$125.9mln, up from US$75.8mln in 2015.

Adjusted underlying earnings (EBITDA) of US$25.7mln were miles higher than 2015’s US$7.4mln, and in line with the company’s guidance of a figure in excess of US$25mln.

Cash and bank deposits as at 31 December 2016 were US$21.5mln, up US$12mln in the second half of the year, despite paying US$7mln as part of the consideration for the AreaOne acquisition, splashing out US$5.5mln on buying back shares and US$4mln on dividend payments.

The group declared a final dividend of 4.32 cents, taking the total for the year up to 10.11 cents, up 7.84 cents.

"Taptica entered 2017 at a run rate significantly higher than at the equivalent period last year as it continues to benefit from the investment being made into mobile advertising by corporates and advertising agencies,” said Hagai Tai, chief executive officer (CEO) of Taptica.

“The strength of our offer lies in our proprietary platform and ability to collect accurate data which enables us to deliver efficient and effective campaigns, which we will continue to do for all our clients. With consumers continuing to increase their use of apps and accessing the internet on their mobile most of the time, we anticipate existing clients growing their ad spend with Taptica as well as new advertisers entering this market.

“We also expect to receive increasing demand from the Asia-Pacific region with demand from US and Europe set to continue. As a result, the board remains confident of delivering strong year-on-year revenue growth in the year ahead," the CEO added.

Shares in Taptica were up 1.2% at 296p in lunchtime trading, and are up 268% on a year earlier.

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