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Adveritas Rise in Annualized Recurring Revenue Highlights Rapid Growth

Adveritas Founder and CEO Mat Ratty said ARR continued to rise in fiscal 2023 and the growth momentum is expected to continue.

Adveritas (ASX: AV1) released its results for the fiscal year ended June 30 (fiscal 2022), which highlight rapid growth in the company’s annualized recurring revenue, which increased 145% compared to the fiscal year 2021 to reach $2.51 million.

In fiscal 2022, the Australia-based company won several major customer contracts, launched new go-to-market channels with Facebook and Google, and accelerated cross-selling and service expansion of the company to existing customers.

Adveritas’ TrafficGuard product is its first software-as-a-service (SaaS) offering available – detecting, mitigating and reporting ad fraud before it affects digital advertising budgets using its patent-pending technology and its proprietary big data.

Adveritas Founder and CEO Mat Ratty said that as the brand grows and larger companies get used to TrafficGuard, the company’s ARR will only continue to increase.

“Implementing our growth strategy is delivering results with ARR currently up over 170% since June 30, 2021 and we see no slowdown in growth as our pipeline of new leads is growing. more important than it ever was,” he said.

The company ended the year with a cash balance of $5 million, which will be supplemented after the end of the year by a research and development grant of $1.1 million, which will further support its research initiatives. growth in the future.

A major client wins the 2022 financial year

Adveritas’ 2022 fiscal year was marked by several major wins with customers in industries including gaming, telecommunications, retail, media and entertainment.

“Digital ad fraud is a serious and ongoing problem for many businesses and industries around the world,” Ratty explained.

“The growing interest in our technology from companies such as Banco Santander, William Hill, Singtel and Disney Streaming Services reflects the value we are creating through our software.”

“Our new channels and scaling of our technology platform means we can further increase our services to help new and existing customers avoid fraudulent traffic, so they can maximize the return on their digital advertising. .”

During the period, Adveritas added two bookmakers, Betfred, the UK’s largest private retail bookmaker, and UK-based William Hill, a world leader in online bookmakers.

Adveritas’ customer base has also grown with new customers such as Singtel, Asia’s leading communications group, also the parent company of Optus; and Fortuna Entertainment Group, an omnichannel betting and gaming operator in parts of Europe.

Banco Santander, one of Spain’s leading banking and financial services companies, was among other won over clients, along with Smarkets, an award-winning low-commission betting company.

Finally, BoyleSports, an Ireland-based bookmaker with over 320 branches in the UK and Ireland, has been secured by the Australia-based company.

TrafficGuard on Google Cloud Marketplace

In October 2021, TrafficGuard integrated with the Google Cloud Marketplace platform, enabling Google Cloud customers to get the most out of TrafficGuard’s pay-per-click (PPC) product.

The company’s first sale of TrafficGuard through the marketplace platform was in May 2022.

Currently, TrafficGuard is the only digital anti-fraud solution on Google Cloud Marketplace and as a result has opened up additional global sales channels for the company.

In addition to offering PPC verification, TrafficGuard offers its flagship Mobile App Install Verification, which ensures customers aren’t paying for misattributed or fake app installs, and Affiliate Verification, which reduces the poor affiliate attribution and ensures customers pay for real conversions on their website. .

More recently, TrafficGuard launched beta trials for PPC with Meta’s Facebook platform to help users reduce invalid and fraudulent ad traffic, and has now launched a new channel offering social verification for Meta.

Going to market is slated for the end of this calendar year, with a number of new and existing customers already raising their hands.

Looking forward to FY2023

Adveritas aims to continue growing in fiscal 2023, building on the past fiscal year, which saw its ARR continue to grow.

After FY2022, new blue-chip customers, including gaming company Better Collective, Lux Escapes, a global online travel company, and Disney Streaming Services, all signed contracts to use the company’s anti-fraud software. TrafficGuard.

“While we are only eight weeks away from the start of the new fiscal year, our ARR has continued to grow, and we expect to continue the growth trajectory given our new customers, expansions and upgrades of existing customers. , and a growing pipeline of opportunities,” added Ratty.