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Location Sciences wants 100 more brands to sign up for Verify this year

"Restricted location data supply is having a massive and immediate impact on several key elements of the marketing toolkit."

Location Sciences Group PLC -
Locations Sciences wants 2bn verified ad impressions this year

Location Sciences Group PLC (LON:LSAI) is targeting doubled ad impressions and for 100 new brands to adopt its Verify software in 2020.

Revenues jumped 60% to £1.2mln in 2019, with the contribution from Verify climbing ten-fold to £496,000.

Verify authenticates the locations that form a key part of mobile advertising campaigns with the number of brands using it rising to 136 against a target of 50.

Ad impressions also exceeded the one target billion target for the year, though the AIM-listed group only signed up one location ad supplier against a target of six.

Since the end of the year, deals have been signed with global location data provider X-Mode, an unnamed global advertising agency and Horizon Media, the world’s largest media agency.

Mark Slade, chief executive, said increased privacy regulations and operating systems updates are squeezing the supply of location data and boosting demand for Verify.

"Restricted location data supply is having a massive and immediate impact on several key elements of the marketing toolkit.

“There is a tremendous opportunity for Location Sciences to drive the adoption of Verify across the ad-tech ecosystem, be part of the solution which drives ROI for advertisers, and deliver significant value to shareholders."

Losses for the year rose to £2.28mln.

Quick facts: Location Sciences Group PLC

Price: 0.385 GBX

LSE:LSAI
Market: LSE
Market Cap: £2.26 m
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