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engage:BDR marches ahead with daily revenue improving

“Irrespective of the global crisis and impact to our business, the company has still had its strongest H1 since listing,” says CEO.

engage:BDR Ltd - engage:BDR marches ahead with daily revenue improving
Daily revenue is 20% better in the first half of May

engage:BDR Ltd (ASX:EN1) continues to see daily improvement across key metrics this month with daily revenue 20% better in the first half of May compared to the same period in April.

Increasing advertiser demand has seen the revenue improve and this trend is expected to continue throughout the balance of May through the end of the June quarter.

The company’s revenue until May 16 was A$630,000 compared to A$525,000 to the same date in April.

Daily improvement

Executive chairman and CEO Ted Dhanik said: “We are seeing daily improvement across our key metrics, which is a strong indication that the worse of this global crisis could be behind us now.

“Large US states have opened and many others are partially opening. I expect to see stronger demand in the coming weeks, which will translate to greater revenue for the company.

“Irrespective of the global crisis and impact to our business, the company has STILL had its strongest H1 since listing.”

Shares increase

Mirroring the improvement, shares are up 10% today to 1.1 cents.

The advertising industry traditionally expects 65-70% of its revenues in the second half of the year from July to December, as experienced by EN1 in 2019 with 34%-66%.

Revenue seasonality

Management expects 2020 to produce similar revenue seasonality, as experienced in 2019 and all prior years.

Dhanik said: “Prior to the global crisis we had a stronger revenue trajectory, but we should still yield stronger H1 revenue than any previous year since listing on the ASX.

“Advertising companies see their greatest revenue months after June; we are approaching that time again this year and looking forward to the seasonality in our favour,” he added.

Quick facts: engage:BDR Ltd

Price: 0.005 AUD

ASX:EN1
Market: ASX
Market Cap: $5.16 m
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