Mobile advertising firm Taptica just posted record quarter results that sent shares flying, closing up 19% on Tuesday. Revenue increased 53% to $51.8m during the first half of the year with gross profit doubling to $17.8m – up from $9m the year over.
Taptica announces positive revenue results
The company’s mobile business accounted for 79% of that revenue, up from 51% last year.
However, Chief Executive Hagai Tal expects revenues to climb further to account for 90% of its earnings.
Taptica ad software lets marketers such as Amazon, Disney and Facebook reach new mobile markets.
“As we went into mobile, we were strong, but focusing on Tier One clients took time. We’ve now proved ourselves and it’s easier to attract new advertisers. The whole market is growing, and this is just beginning. They haven’t moved all their budget yet, but understand they need to engage with potential customers on mobile. Once they see the light, they start to shift their business.”
Shares in the company were further boosted by Investec analyst Steve Liechti praising:
“Taptica is well differentiated and positioned for mobile/social growth as platform/data investment delivers a virtuous circle of more efficient campaigns for existing/new clients at a good margin.”
Following the good results, Taptica announced that it will be exhibiting at this year’s dmexco held in Cologne Germany between September 14-15. Tal adds:
“With the industry’s center of gravity shifting, we expect the conversation at dmexco to focus more on the opportunities in Asia Pacific and how businesses there will further evolve the space. We look forward to sharing our experiences working with some of these companies as they look to connect with consumers in Europe, North America and beyond.”