Albert Technologies Ltd Trading update (2086M)

TIDMALB

RNS Number : 2086M

Albert Technologies Ltd

27 July 2017

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

27 July 2017

Albert Technologies Ltd.

("Albert Technologies" or the "Company")

Trading update

Albert Technologies (AIM: ALB) today announces a trading update for the six months ended 30 June 2017. The Company continues to execute its stated growth strategy, with revenue from its pioneering AI-based SaaS marketing platform growing significantly.

Financial Highlights

The Company's unaudited revenues for the first half of 2017 are expected to be approximately $4.4 million. The Company's unaudited adjusted EBITDA loss(1) is expected to be approximately $6.2 million. The cash balance as at 30 June 2017, including short-term bank deposits, is expected to be approximately $17.0 million.

(1) Excludes share based compensation expenses of $0.2 million.

SaaS Business

SaaS monthly recurring revenues have tripled from January to June 2017, and management is highly encouraged with this progress. Additional affirmation of the success of the Company's SaaS solution is provided by the Company's recent business wins, which include a 12-month rolling contract with one of the world's largest nutrition, health and wellness companies, and a strategic partnership announced today with a leading business services group in Australia and New Zealand. This partnership guarantees minimum SaaS revenues during the first year of $800,000.

In the first half of 2017, the majority of the Company's overall revenues were derived from the Indirect Business, but SaaS revenues are becoming increasingly meaningful, supported by these recent contract wins and ongoing sales and marketing activity.

Recognition of Albert

Albert has won recognition for his work on an international scale in 2017. Most recently, Albert was awarded Best Advertising or Campaign Management Platform in the SIIA CODiE Awards, in addition to Gold in Most Innovative Product - Enterprise in the International Best in Biz Awards. Albert was also named a "Cool Vendor" in the "Cool Vendors in Advertising, 2017" report by Gartner, Inc., following in the footsteps of previous winners including Airbnb, Instagram and Dropbox. Furthermore, at the 15th Annual American Business Awards, Albert was recognised in the Most Innovative Tech Company of the Year category, winning a Bronze Stevie Award.

As further endorsement of the Company's achievements, CEO Or Shani was a semi-finalist in EY's Entrepreneur Of The Year 2017 Award in the New York Programme, and named Most Innovative CEO by the CEO World Awards, being honoured with the category's Gold Award. CMO Amy Inlow was recognised for her work launching and bringing Albert to market as well as her broader contribution to the marketing industry as one of fifteen leading women marketers in this year's DMN Hall of Femme. She was also awarded a Gold Stevie Award in the Marketing Executive of the Year category at the 15th Annual American Business Awards and Silver in Marketing Exec of the Year at the International Best in Biz Awards.

Indirect Business

The Indirect Sales business continued to be subject to volatility and the Company experienced a slowdown in indirect trading activity in the first half of 2017. The Board will continue to closely monitor the performance of the Indirect Business.

Or Shani, Founder & CEO at Albert Technologies Ltd. said, "Albert's rapid success with marketers, including our strategic partnership for Australia and New Zealand announced today underlines our confidence and belief in our pioneering service. We are delighted to see this success translate to increasingly meaningful SaaS revenues and we look forward to sharing continued progress in this business with shareholders as momentum continues to develop."

For further information, please contact:

 
 Albert Technologies Ltd.                               Tel: [phone] 
 Or Shani, Chief Executive Officer 
 Yoram Freund, Chief Financial Officer 
 https://albert.ai/ 
 
 Liberum (NOMAD and Broker)                             Tel: [phone] 
 Neil Patel / Chris Clarke 
 
 Bell Pottinger                                         Tel: [phone] 
 Elly Williamson/Joanna Davidson                     [e-mail] 
 www.bellpottinger.com 
 

About Albert Technologies Ltd.

Albert Technologies Ltd. was founded in 2010 by CEO Or Shani to liberate marketers from the pain and complexities of modern marketing. The Company operates an Indirect Sales Channel, where its technology is deployed in advertising exchanges to match undervalued inventory with suitable demand. This is managed to help support the continued promotion of the strategically significant Direct Sales Channel, which offers artificial intelligence-based software, Albert, to brands using a SaaS model. Albert Technologies Ltd. listed in 2015 to accelerate both investment into and commercialisation of Albert.

The Company and Albert have received many awards in its short existence, including two platinum MarCom awards and silver in the Best in Biz awards 2016 for best new product of the year. Albert was also named AI Application of the Year by The Global Annual Achievement Awards for Artificial Intelligence.

About Albert

Albert replaces the human campaign manager in managing a brand's online advertising campaigns. A brand, such as Cosabella or Harley Davidson, provides Albert with access to its Google, Facebook, Bing, Twitter and other online marketing channels. When a brand manager wishes to launch a new online advertising campaign, she simply logs into Albert and deploys that new campaign, which is usually no more than a 15 minute task.

Albert autonomously creates hundreds of micro campaigns across all relevant online marketing channels (Google, Facebook, Bing, Twitter, Instagram, Display, Email, etc), then reviews these hundreds of micro campaigns every few minutes and optimises each of them as needed. Albert works in very much the same way that a human campaign manager would, making correlation and cost/benefit based decisions.

Where an experienced campaign manager could possibly make circa 100 decisions per day, Albert can make thousands per minute. Albert's ability to launch hundreds of micro strategies and review and amend them all every few minutes typically brings about a significant increase in ROI. In addition, all learnings from the decisions made remain in house, so the brand has full and instant transparency and can easy scale up marketing activity through larger budgets or application to new brands and new geographies without hiring new expert campaign managers.

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTEAKXKAAEXEFF

(END) Dow Jones Newswires

July 27, 2017 02:00 ET (06:00 GMT)