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engage:BDR highlights 50% revenue growth in 2019 financial commentary

The company believes 2019 was a pivotal and profitable year for EN1 with EBITDA increasing to $1.6 million.

engage:BDR Ltd - engage:BDR highlights 50% revenue growth in 2019 financial commentary
EN1 has a healthy balance sheet and has access to significant capital

engage:BDR Ltd's (ASX:EN1) latest financial commentary for the 2019 calendar year has highlighted an increase in revenue by 50% to $17.1 million from 11.4 million in 2018.

Gross margins grew to 54% from 38% in 2018, representing a 42% increase.

EBITDA in 2019 yielded $1.6 million in profit while gross profit increased 216% to $9.3 million.

The company believes it has never been better positioned for exponential revenue, profitability and market share growth.

“Head start on 2020”

Chairman and CEO Ted Dhanik said: “2019 was a pivotal year for EN1.

“At the beginning of the year, we set out to move a mountain with just a strong plan…I believe we moved several mountains by believing in and daily execution of that plan.

“We grew revenues 50%, grew gross margins 42%, achieved profitability and consistently signed key customers and new partnerships previously unattainable.

“The company is positioned well with a strong balance sheet, key and unique partnerships and most importantly, the winning team.

“We have a head start on 2020 with about three times the revenue we had this time last year and we’re focused on keeping that momentum growing.”

Growth prospects

The company is focused on three key areas for 2020:

  • NetZero publisher boarding;
  • AdCel growth; and
  • New integrations for EN1’s programmatic ad exchange and scale existing.

On March 15 EN1 generated about 300% of 2019 revenue, year to date.

In January 2020, the company achieved about 281% of January 2019 - EN1’s February exceeded January 2020 as well as 322% of February 2019.

Run-rate for March 2020 is within 10% of December 2019’s revenues - the highest revenue month in 2019 with stronger gross margins.

Management expects Q1 2020 to close at about 300% of Q1 2019 revenues and anticipates gross margins, EBITDA and NPAT to continue to increase in 2020 as a result of the company’s client and partnership mix.

Quick facts: engage:BDR Ltd

Price: 0.006 AUD

ASX:EN1
Market: ASX
Market Cap: $6.19 m
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