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AppScatter sees pick-up in revenues after completing Priori Data acquisition

With management's attention focused on the Priori Data acquisition, the timing of the roll-out of the appScatter platform to the app developer community was delayed

App store
The combination of the appScatter platform with the data and customer contacts of Priori Data has already led to the enlarged group winning significant new contracts

App monitoring platform operator AppScatter Group PLC (LON:APPS) is already winning new customers as a result of the acquisition of Priori Data earlier this year.

In its results statement covering the first six months of the year, the company gave a sneak preview of what life with Priori Data on board is going to be like by revealing that revenues for July and August were materially above the same period last year.

The board is confident that full-year revenue will exceed that of 2017.

READ: appScatter completes £13.5mln takeover of Priori Data

Revenue for the first six months of 2018 was £904,169, up 3% on £874,670 in the same period of 2017. The increase was achieved during a period when management’s time was largely taken up by the sometimes tortuous acquisition of Priori Data.

The company operates a scalable business-to-business (B2B) software-as-a-service (SaaS) platform that allows paying users to distribute their apps to, and manage their apps on, multiple app stores. From appScatter’s point of view, it plans to make money from the enormous amount of data it collects while tracking app store activity.

In the first half of 2018, it saw a 54% year-on-year increase in daily data collection on total unique app URLs (web addresses) to 1.3bn from 842mln.

Unique apps tracked daily increased by 53% to 11mln from 7.2mln the year before while publishers tracked each day increased by 88% to 3.2mln from 1.7mln.

The loss before tax widened to £3.42mln from £2.31mln the year before.

At the end of June, the company had £2.6mln in cash, up from £222,940 the year before. Since then, the company has raised £2.6mln from a placing of shares.

"In the first half of 2018 we were focused on acquiring Priori Data and this subsequently completed shortly after the period end. This is a transformational acquisition which has enabled us to combine the appScatter platform with the significant amounts of data held by Priori Data. appScatter now holds an impressive suite of data now which is resonating well with clients and has begun to translate into revenue increases in the second half of the year,” said Philip Marcella, the chief executive officer of appScatter.

“Operationally, we have seen significant increases across our core operational driven data KPIs [key performance indicators] and with a strong pipeline of prospective enterprise customers, we remain confident of the opportunities ahead of us and look forward to completing the integration of Priori Data and the continued growth of appScatter and its client base in the second half of 2018," he added.

Quick facts: AppScatter Group PLC

Price: 17.25 GBX

AIM:APPS
Market: AIM
Market Cap: £16.74 m
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appScatter Group partners with interarrows to take its offering to Japan

appScatter Group PLC's (LON:APPS) Jason Hill tells Proactive London they're expanding their Priori Data brand into Asia after signing a joint venture (JV) with Japanese on-demand internet consultancy interarrows Inc Hill says the JV will initially base its Priori Data platform in Japan,...

on 8/7/19

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