Adveritas (AV1) Q4 2024 TU earnings summary

Executive summary

• Achieved record customer receipts of $2.05M for the June 2024 quarter, up 19% from March 2024 and 224% year-over-year from June 2023.

• Customer base grew to 303, a 22% increase year-over-year, with strong growth in sports betting and agency partnerships.

• Significant investment in new fraud detection capabilities for social platforms, with monetization expected in the next quarter.

• Clear path to operating cash flow positivity, driven by growth in sports betting and new product features.

Financial highlights

• Adjusted cash receipts for the quarter were $2.05M, including $750k in deferred receipts, up 19% sequentially and 224% year-over-year.

• Receipts from customers (excluding deferred) were $1.3M, up 106% year-over-year.

• Total operating expenditure payments for the quarter were $3.72M, down 13% from December 2023.

• Cash and cash equivalents at quarter end were $4.28M.

• Net cash used in operating activities was $(2.40)M for the quarter.

Outlook and guidance

• Positive growth outlook supported by new product launches, continued sports betting expansion, and agency partnerships.

• First revenues from agency channel and social media fraud detection expected in the September 2024 quarter.

• Management expects to achieve operating cash flow positivity based on current growth trajectory.