Azerion's Q1 2024 results show 6.2% revenue increase, driven by Platform segment growth

From GlobeNewswire: 2024-05-30 01:30:00

In Q1 2024, Azerion saw a 31% growth in Platform advertising revenue to €89.2 million, driven by Direct and Automated auction sales. This led to a 6.2% increase in total revenue to €119.7 million, with adjusted EBITDA rising to €9.8 million. Operating expenses were down 23% due to optimization efforts. The company also signed new partnerships and expanded its market presence.

The CEO emphasized Azerion’s goal to become a key partner in Europe’s digital advertising landscape. Strong revenue growth and improved profitability were achieved in Q1, driven by the integration of a single media buying platform. Efficiencies from operations and investments in AI are fueling growth, with a promising pipeline for strategic partnerships ahead.

Financially, Azerion reported revenue of €119.7 million in Q1 2024, up 6.2% year-on-year. The Platform segment saw a 31.2% revenue growth to €89.2 million, while AAA Game Distribution revenue decreased by 9.9%. Adjusted EBITDA increased to €9.8 million, with a margin of 8.2%. Cash flow, capital expenditure, and debt management were also highlighted in the financial overview provided.

The Platform segment, comprising digital advertising, AAA Game Distribution, Casual Game Distribution, and Azerion Sports, drove revenue growth through direct sales and automated auction sales. Expansion of digital audio advertising and strategic partnerships, like with Eniro Group AB, are key highlights. Efforts to optimize operations and enhance technology and product offerings are ongoing to support Azerion’s growth trajectory.



Read more at GlobeNewswire:: Azerion publishes interim Q1 2024 results