Adveritas (AV1) H2 2024 earnings summary

Executive summary

• Customer base grew by 22% in FY24, with revenue surpassing $4 million, up 41% year-over-year from FY23.

• Over $7 million was raised through share placements, supporting global expansion and product development.

• Focused on the USA gaming and sports betting market, with 23 new contracts signed in this segment, generating $1.9 million in ARR.

• Key product launches included the Pmax solution for Google Performance Max and Smart Ranges for fraud prevention.

Financial highlights

• FY24 revenue: $4,156,993, up 41% from $2,949,228 in FY23.

• ARR at 30 June 2024: $6,090,000, a 67% increase from $3,650,000 at 30 June 2023.

• Loss before income tax: $(11,583,974), compared to $(10,907,989) in FY23.

• Overheads declined by 6% year-over-year due to cost reduction initiatives.

• Cash and cash equivalents at year-end: $4,285,814 (down from $6,339,205 in FY23).

Outlook and guidance

• Strong growth outlook for FY25, with a visible path to positive operating cash flow through cost control, increased pricing, and prepaid annual contracts.

• Expansion into social media fraud detection, with monetization expected by end of September 2024.

• New agency partnerships expected to accelerate client acquisition and revenue.