Bidstack Group PLC (AIM:BIDS, OTC:FTBGF) said sales, gross margin and its cash balance all improved in the six months to 30 June.
Revenue surged almost 150% to £2mln for the in-game brand activation platform. Cash jumped to £3.7mln from £695,000 and gross margin improved slightly.
“The first six months of FY22 has seen the company put further foundations for longer-term growth, as our group revenues begin to accelerate,” James Draper, Bidstack chief executive, said.
“We are all very aware of the uncertainty caused by the challenging global economic climate.
“However, we remain confident that the video game sector will remain strong and that demand for monetisation through advertising-spend will continue to increase, from game developers and publishers.”
Inventory of games stood at 110 compared with 30 in H1 last year, with over 100mln monthly active users available to its network on global media partners.
Bidstack added a new ad-format ‘rewarded video’ that will increase the breadth of monetisation solutions available to developers and publishers.
It expects the confidence of media buyers to purchase in-game advertising through an open marketplace to be a significant catalyst for frictionless growth.
Bidstack also insists it has a “robust pipeline” for other enterprise software sales as it diversifies its business towards new opportunities in technology licensing to publishers, developers, platforms and rights holders.
Since the end of the first half, Bidstack announced its first enterprise software deal – for three years – with an Asia-Pacific mobile marketing technology company, which diversifies revenue and will roll out open-market place in-game advertising solutions to accelerate its brand spend.
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