logo-loader
viewengage:BDR Ltd

engage:BDR achieves best first half revenue on record with $9.04 million representing 44% growth

Founded by executives from pioneering internet companies myspace and LowerMyBills, the company has made a name by developing innovative solutions for advertisers as well as content owners.

engage:BDR Ltd - engage:BDR achieves record first half revenue in history of $9.04 million
Monthly revenues have improved with June 2020 revenue up 4% to $1.25 million

engage:BDR Ltd (ASX:EN1) has achieved its greatest first-half revenue since listing with the $9.04 million total representing a 44% growth rate year-on-year.

After the strong start to 2020, the company is expecting an even better second half as the advertising industry traditionally expects 65-70% of its revenues from July to December, as experienced by EN1 in 2019 with a ratio of 34%:66%.

This was also experienced by the company in prior years and by others involved in the same industry.

Strongest revenue in EN1 history

Executive chairman and CEO Ted Dhanik said: “I’m proud to say, despite the COVID-19 impact to our second quarter, our team still delivered the strongest H1 in EN1 history, by 44%.

“The AUD strengthened as our Q2 monthly revenues improved since April (we earn in USD); the difference was eclipsed in FX.

“Early signs of revenue normalisation include a recent daily revenue peak for the last week of June at $50,000 – to see this type of figure appear in daily reports again consistently is very exciting.

“Additionally, July’s first four days have been stronger than June’s; I will note, July is the start of a new quarter and typically, the weakest revenue days are in the first month, so this is an early but a warm-welcomed indicator."

New US lending programs 

Dhanik continued: “We implemented significant operational expense reductions from mid-March 2020, including employee furloughs, pay cuts in Q2 (including CEO, COO, the board, etc), tech infrastructural expenses, outside contractors, rent, and in nearly every category.

“Several new lending programs are being introduced in the US, and our finance team is focused on finding equity-free traditional funding to refinance EN1’s notes; more on this as it develops.

“We’ve been through a storm or three in the past 12 years, we are equipped to navigate,” he added.

Quick facts: engage:BDR Ltd

Price: 0.008 AUD

ASX:EN1
Market: ASX
Market Cap: $10.11 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of engage:BDR Ltd named herein, including the promotion by the Company of engage:BDR Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

engage:BDR plans to grow its business in Australia

engage:BDR Ltd (ASX:EN1) CEO Ted Dhanik tells Proactive Investors the cross-device advertising solution company plans to expand its Asia-Pacific presence. Dhanik says the company, based in Los Angeles, California, but listed on the ASX, says there's a "pretty big opportunity in Asia" and...

on 14/2/19

2 min read