Taptica International Ltd (TAP)

 

LSE:TAP: Trading and Business Update

Taptica International Ltd

25 Jan 2017 07:00:07

Taptica Int. Ltd

RNS Number : 0215V
Taptica International Ltd
25 January 2017
 

25 January 2017

 

Taptica International Ltd

("Taptica" or the "Company")

 

Trading and Business Update

 

Taptica (AIM: TAP), a global end-to-end mobile advertising platform for advertising agencies and brands, provides the following trading update for the year ended 31 December 2016 ahead of its full year results to be issued on 28 March 2017.

 

Further to the trading and business update statement of 9 November 2016, the Company is pleased to report that in the last two months of the year, there was better-than-expected growth from the mobile advertising campaigns being run for its new and existing clients as its technology platform delivered better results for them. Specifically, the Company has benefitted from higher-than-expected revenues from the Asia-Pacific region.

 

As a result, the Company now expects to report FY 2016 revenues ahead of market expectations, with revenues of at least $125m, representing an increase of approximately 65% compared with FY 2015 revenues of $75.8m. Also, due to the Company's platform continuing to deliver operational efficiencies in the campaigns, the Company expects adjusted EBITDA to be materially higher than market expectations at approximately $25m for FY 2016 compared with $7.4m for FY 2015.  

 

Additionally, the Company continued to be highly cash generative and had a cash balance at 31 December 2016 of approximately $21m (30 June 2016: $9.5m), after a $3.5m interim dividend payment in November 2016.

 

Looking ahead, Taptica has entered the new year in 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. The Company will provide further details at the time of the full year results in March 2017.

 

 

For further details:

 

Taptica

Hagai Tal, Chief Executive Officer                                

 

Investec Bank (Nomad and broker)

Dominic Emery, Henry Reast, Junya Iwamoto   

 

Luther Pendragon (PR adviser)

Harry Chathli, Claire Norbury               

 

 

+972 3 545 3900

 

 

+44 207 597 5970

 

 

+44 207 618 9100

 

About Taptica

 

Taptica is a global end-to-end mobile advertising platform that helps the world's top brands reach their most valuable users with the widest range of traffic sources available today, including social. Its proprietary technology leverages big data and, combined with state-of-the-art machine learning, enables quality media targeting at scale. Taptica creates a single arena in which brands can scale and engage more relevantly with mobile audiences, staying ahead of the competition. It works with more than 450 advertisers including Amazon, Disney, Facebook, Twitter, OpenTable, Expedia, Lyft and Zynga. Taptica is headquartered in Israel with offices in San Francisco, New York, Boston, Beijing and Seoul. Taptica is traded on the London Stock Exchange (AIM: TAP).


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