The best Quarter in Advertys History
A word from the CEO
We are delivering the best quarter in the company's history with a revenue of 13.98 million SEK and a growth of 281% compared to the same period last year. With a similar growth trajectory, we are on track to reach a total revenue of 50 million SEK by the end of 2023.
The increase from the second to the third quarter of 2023 was 67%, compared to a 33% increase during the same period last year.
During this period, the company showed a positive EBITDA, which is one quarter ahead of the forecast we announced at the beginning of the year.
Furthermore, the gross profit increased significantly, reaching 5.560 million SEK compared to 843 thousand SEK for the same period the previous year, resulting in a gross margin of 40% for the third quarter of 2023.
Regarding expenses, we can see that all cost-saving measures have now fully taken effect, aligning with our streamlined organization.
To provide an overview of our global development, Europe and the USA are the two regions delivering the most. In the third quarter, all our efforts in the USA have started to yield results, with a 61% increase compared to the forecast for the period. This is a strong testament to our future plans for activities in that region.
To succeed in these endeavors, we must actively manage our game portfolio and its advertising spaces. During the period, we managed to activate 78 games, which is 6 more than the previous record of 66 games in the second quarter. Out of these 78 games, 58 came from new publishers, and 20 from existing ones.
This resulted in a 25% QoQ (Quarter-over-Quarter) and 75% YoY (Year-over-Year) increase in our reach. Even more interestingly, we increased our MAU (Monthly Active Unique Players) by 18% QoQ and 93% YoY.
With a larger game portfolio, we need to ensure that we have matching products for the market to use. Therefore, during the quarter, we launched both a programmatic video format (VAST), which enables media buyers to easily expand their reach when purchasing TV and video, and the ability for media buyers to package specific target groups based on gender and age.
With a growth curve like this in the third quarter, there is every reason to stand tall and applaud the entire team, saying: "Well done!"
Finally, I want to thank all of you, the shareholders, for your support.
"Do More, Make It Count"
CEO Jonas Soderqvist