Digital marketing platform provider OtherLevels has announced record customer receipts for the first half of the financial year.
Eight new customers were signed up, with the average deal worth A$108k in H1 of the 2018 financial year. There was a 51 per cent increase in total revenues to A$2.39m from the corresponding period 12 months ago, with a 66 per cent increase in customer receipts to A$2.7m, excluding research and development.
Earnings before interest, tax, depreciation and amortisation improved 78 per cent to a loss of A$647k, from A$2.98m in the first half of the 2017 financial year.
The firm experienced a 59 per cent increase in licence revenue and a 37 per cent increase in service revenue, with a respective split of 68 per cent to 32 per cent, consistent with prior periods.
The second quarter of the 2018 financial year saw OtherLevels achieve positive operational cashflow during the period for the first time.
The company stated: “OtherLevels continues to experience strong growth and demand in the UK and European markets driven by an experienced sales team. The company's focus on the wagering sector within these key markets continued to attract new customers, as well as maintaining our existing customer base.
“The company is also focused on taking advantage of increased opportunities through the ‘in-play’ market. OtherLevels' presence in this market is significant and continues to expand, as evidenced by over 40 customer and prospect meetings following the launch of the company's ‘in-play messaging’ offering at the February 2018 ICE event in London.
“The UK and European markets now constitute 72 per cent of total revenue, with US and Australia comprising the balance, contributing 10 per cent and 18 per cent respectively. With the ever-increasing digital marketing and customer acquisition plans from major current and potential customers, OtherLevels is strategically very well placed to capture an increasing share of this business.”
