IRVINE, Calif., Nov. 13, 2014 /PRNewswire/ -- Content syndication and monetization company, Adaptive Medias, Inc. (OTCQB: ADTM), a leader in programmatic advertising across mobile, video and online display, today announced record financial results for the third quarter, ended September 30, 2014.
Revenue grew 270% in Q3 2014 to approximately $1.4 million compared with $373,737 in the year ago period and increased 24% sequentially from approximately $1.1 million the previous quarter. Gross profit for Q3 2014 grew 82% to $289,587 compared with $158,507 Q3 2013.
The key drivers that contributed to the company's revenue growth in the third quarter 2014 were:
- Launch of Media Graph, Adaptive Medias' flagship offering that allows publishers, producers, and advertisers the ability to easily and effectively monetize digital video content across all screens and devices through one centralized platform solution.
- Increased platform publishers to 245 as of September 20, 2014 from 46 customers last quarter.
- Increased Marketplace revenue to $1,263,934, up 238% compared to $373,737 in the third quarter of 2013.
- Generated Subscription (platform) revenue of $118,205.
"During the quarter, we launched Media Graph and strongly positioned the Company for high growth within the digital marketplace," said Qayed Shareef, CEO of Adaptive Media. "This, combined with our new advanced video player that is optimized for an enhanced mobile experience, should allow us to continue to capitalize on the accelerating trend we see for increased video viewership by users on multiple devices."
Shareef continued, "With our $5.2 million capital infusion this quarter, our leading technology platform, and our growing customer base, we believe we are set for continued growth in 2014 and beyond."
ABOUT ADAPTIVE MEDIAS, INC.
Adaptive Medias is a programmatic audience and content monetization provider for website owners, app developers and video publishers who want to more effectively optimize content through advertising. The Company provides a foundation for publishers and developers looking to engage brand advertisers through a multi-channel approach that delivers integrated, engaging and impactful ads across multiple devices. Adaptive Medias meets the needs of its publishers with an emphasis on maintaining user experience, while delivering timely and relevant ads through its multi-channel ad delivery and content platform. For more information, please visit www.adaptivem.com. Also, follow us on Twitter at @adaptive_m.
Safe Harbor Statement:
This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Adaptive Medias, Inc. has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect Adaptive Medias' current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Adaptive Medias' actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Adaptive Medias undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.
David Fore, Director of Research
Email: [email protected]
SOURCE Adaptive Medias, Inc.