Mobile advertising company Taptica has beaten revenue and profit expectations after posting significant gains on Monday. Sales grew 68% to $211 million in 2017. Meanwhile, adjusted EBITDA was up to $34.2 million, which was above analyst estimates.
Taptica said that the APAC region was a main driver of growth for the company. In China alone, the company signed 91 new clients in 2017. In addition, the acquisition of Tremor Video also made a difference to Taptica’s results.
Hagai Tal, Chief Executive of Taptica said:
“We are pleased to report another year of significant growth resulting primarily from the contribution of our newly-established offices in the Asia-Pacific region, where consumers continue to increase their use of apps and accessing the internet on their mobiles, and the acquisitions that we made during 2017.”
Although research and development costs rose to $17 million from $6.1 million, these were mainly due to the Tremor Video acquisition.
“Our two acquisitions – Japan-based Adinnovation and US-based Tremor Video DSP – transformed the business by giving us a broader footprint in the Asia-Pacific region and the US – the two standout regions for growth in digital ad spending. With Tremor, we also diversified our revenue streams into brand advertising, which we see as a growth area for us,” Tal added.