Increase of 19% in Revenue and 83% Net Profit Year over Year
Proprietary Technology provides Market Advantage
VANCOUVER, WA / ACCESSWIRE / May 13, 2022 / Adaptive Ad Systems, Inc. (OTC PINK:AATV), a company that provides Dynamic Digital Ad Insertion (DDAI) via its streaming media hardware and proprietary software for the U.S. cable T.V. and Satellite markets, today reports a continuing increase in Revenue and Net Profit for the first quarter of 2022.
J. Michael Heil, CEO of Adaptive Ad Systems, stated: 'Our proprietary cloud-based software (Dynamic Digital Ad Insertion; 'DDAI') technology has provided us with an operational advantage and extended market reach that we were aiming for when we developed this leading-edge technology. We are proud of our engineering team that developed the technology which enables us to economically distribute television advertisements to U.S. markets where advertisers typically have limited or no access. This has allowed us to develop further our leading position in the market, especially in the underserved Tier 2 and Tier 3 markets. We are happy to report that even though we are only at the beginning of the 2022 mid-term election period, we again have significantly increased revenue and profit for the first quarter of 2022. We currently expect our ad campaigns for highly competitive midterm elections to accelerate in the second quarter and reach their peak in this year's third and fourth quarters. This will increase ad frequencies and our revenue even further.'
Q1 2022 Results
- Revenue $1,758,755
- Net Profit $447,158
- Cash $6,544.014
- Assets $16,948,103
For the first quarter 2022 revenues were $1,758,755 compared with $1,477,817 during the same period in 2021, an improvement of $280,938 or 19%. The improved performance resulted from our network's continuing expansion, new headend installations, and adding Adaptive systems and clients across the U.S.
Net Profit Increased
Net Profit increased to $447,158 in Q2 2022 from $244,038 in Q1 2021, an increase of $203,120 or approximately 83%. This increase is based on management's focused efforts to increase Revenue through continued economic expansion of our DDAI network while keeping overhead low.
Total Assets increased to $16,948,103 in Q1 2022 from $16,426,488 in Q1 2021, an increase of $521,615 or approximately 3%. Our total assets currently exceed our liabilities by $14,221,607.
Mr. Heil adds, 'We are currently relocating our Arizona-based IPTV headend facility, which will not only assist in serving our ad insertion processing needs but will also serve as an advanced technology center for the Company's hardware and software development and deployment. Continued improvements to our technology have enabled us to consistently increase the number of installations of our proprietary hardware and software systems throughout the country. Our expanded network provides our contracted clients with more major ad campaigns that they typically would not have access to, resulting in the consistent improvement of our financial performance while creating a solid ROI for our shareholders.'
THE ADAPTIVE SYSTEM
Adaptive allows advertisers across the U.S. to purchase ads inserted into a linked group of the Adaptive digital T.V. advertising system. Adaptive Ad Systems manages all ad-related activities and provides all technical support, ad sales, traffic, and billing. Adaptive has established an innovative revenue share agreement with each cable television system.
Adaptive Ad Systems Inc. is a digital media and video communications company that, together with its subsidiary manufacturers, develops and deploys dynamic digital ad insertion (DDAI) and video streaming media hardware and proprietary processing software for the Cable T.V., Satellite T.V., and IPTV markets. The Company also provides High Speed Fixed Wireless Internet Service (WISP) via a network of Hybrid Access Points and Micro POPs. Adaptive's primary focus is the underserved U.S. markets. Adaptive exclusively sells all available advertising space in each market across multiple national cable television networks while maintaining complete technology ownership. Adaptive has implemented a compelling profit-sharing model with its cable T.V. partners. The Company serves over two hundred designated marketing areas in approximately thirty-nine states. Adaptive also provides broadband and cable T.V. services in some niche markets. Adaptive is a pioneer in cable television ad insertions, serving independent cable television systems. The Company's proprietary hardware and software set the standard that other companies must meet in the advertising industry. For additional information, please visit www.adaptiveadsystems.com .
Any statements contained in this press release that do not describe historical facts constitute forward-looking statements. Forward-looking statements may include, without limitation, financial projections, statements regarding the plans and objectives of management for current and future operations, the development, regulatory approvals, and commercialization of the Company's products, or any of the Company's proposed services, systems, partnerships, or acquisitions. Such forward-looking statements are not meant to predict or guarantee actual results and performance, and actual events or results may differ considerably. Factors that may cause actual results to differ materially from any projections may include, without limitation, the Company's delays in the development of its products, the inability to obtain additional financing, the impact of significant new or changing government regulations on the industry, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's general failure to implement the Company's business plans or strategies. The Company assumes no obligation to update any forward-looking statements to reflect any change in events or circumstances that may arise after the date of this release.
SOURCE: Adaptive Ad Systems, Inc.
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