DGTL Holdings Inc (CVE:DGTL) (OTCQB:DGHTF) revealed its 2Q financials on Monday that showed the company generated nearly $1.3 million in revenue off the back of growing demand for Content-as-a-Service platforms.
The New York City-based integrated media company said that around $738,000 of the total figure was thanks to its subsidiary Hashoff, which posted a 70% bump in revenue compared to the same quarter in 2019.
For the current 2020 fiscal calendar, revenue through to November 30, 2020, was $3.7 million compared to $2.3 million in the same quarter a year earlier, while for the six-month period to end November 30, 2020, DGTL posted nearly $2.4 million in revenue compared to $1.4 million in the same period a year prior.
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DGTL told shareholders that the company attributes the growth in revenue to the implementation of a three-year revenue growth plan and the “positive results” Hashoff's client's experience. The company said that Hashoff has also benefited from heightened market demand for CaaS (Content-as-a-Service) platforms, which allows its new and existing global brand customers to operate large-scale digital and CaaS marketing campaigns remotely, in a more effective, and cost-efficient way.
CaaS is a model where the service provider delivers the content on-demand to the service consumer via web services that are licensed under subscription.
"We are pleased with the continued revenue growth of our first SaaS acquisition,” DGTL’s founder John Belfontaine said in a statement. “We anticipate continued momentum from Hashoff LLC via new business development and customer acquisition.”
DGTL acquires and accelerates digital media, marketing and advertising technology companies powered by artificial intelligence.
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