Google revenue

Adveritas announces an increase in its annualized turnover after obtaining new contracts

Ad fraud mitigation developer Adveritas (ASX:AV1) reported annualized revenue of more than $3 million from new wins in fiscal year 2022.

The figure represents a 78% increase from the start of the calendar year when revenue was $1.68 million.

It also reflects the signing of new customers from pay-per-click (PPC) and mobile and affiliate solutions, as well as upselling to existing customers.

Adveritas said its strong revenue growth was driven by direct sales and Google Cloud Marketplace contracts for TrafficGuard fraud software, including an accelerated customer renewal rate.

Adveritas ASX AV1 Annualized Earnings Table 2022
Adveritas annualized recurring revenue.

While each new contract is not considered significant individually, the momentum should have a significant impact as all new customers have shown interest in other go-to-market channels.

RavenTrack integration

As part of Adveritas’ global rollout, TrafficGuard has been integrated with online gaming affiliate tracking platform RavenTrack, which provides invalid traffic reduction and ad fraud prevention to help brands and advertisers maximize their advertising spend.

More than 60 companies are in the onboarding phase, which precedes the activation of the trial.

The rapid increase in trial demand saw Adveritas hire additional staff to manage clients through trial and then conversion to paid contracts.

The company plans to integrate and enable additional channels that will enable supported access to brands and advertisers from these companies and platforms.

TrafficGuard’s end-to-end protection enables affiliate platforms such as RavenTrack to deliver significant business benefits in terms of differentiation, customer satisfaction, and campaign effectiveness.

Product growth

With TrafficGuard’s marketing efforts expected to extend through 2023, Adveritas said it will continue to drive growth and revenue across all products.

The company has more than 50 enterprise-level paying customers, including Disney Streaming, Australian Lux Group, sports betting company Better Collective, Indonesian technology company GoJek, Singapore Telecommunications (Singtel) and betting agency British Smarkets.

Recently, GoJek renewed its contract for another two years at a higher annual value and Adveritas expects several more to do the same.

Adveritas said its current trial pipeline has the capacity to potentially double its revenue line.