Mobile advertising and marketing solutions company Velti (NASDAQ:VELT) has announced its FY11 results for the period ending 31 December 2011.
Revenue was $189 million, up 63 percent year-on-year.
This was generated 16 percent from mobile advertising and 84 percent from mobile marketing.
Revenue after third party costs was $135 million, a margin of 72 percent, and up 70 percent.
Velti made a GAAP net loss of $15.4 million, compared to a net loss of $15.7 during FY2010.
Its non-GAAP adjusted net income was $29 million, compared to $3 million a year ago.
Inflexion point
"We are very pleased with our fourth quarter and fiscal year results," said CEO Alex Moukas.
"Our revenue growth was characterised by a significant increase of our customers across brands and advertising agencies, with existing customers spending 44 percent more for Velti software solutions that allow them to access the mobile market in a targeted and measurable way.
"2012 is going to be a great year for Velti. We are at the inflection point with consumers moving to the post-PC world and Velti is very well positioned to benefit from this."
Strong quarter
Revenue during Velti's Q4 was $87.1 million, up 52 percent year-on-year.
GAAP net income was $25 million, compared to $2 million in Q4 FY10.
During the three months, Velti completed the acquisitions of Air2Web and Mobile Interactive Group, which expanded its presence in the US, the UK and India.
The company finished 2011 with cash and cash equivalents worth $75.8 million, compared to $17.4 million at the end of 2010.
[source: Velti / detailed PDF]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
Data & Research
Oct 23rd, 2012
Kindle Fire offers some of the best click through rates, reckons Velti
News
May 17th, 2012
Velti CMO guestimates Facebook could generate up to $2 billion a year from its mobile app
Top Stories
News
4 hours, 33 minutes ago
PocketGamer.biz Podcast Week in Views E10 - Brawl Stars smashes 2023 revenue, Square Enix’s extraordinary losses, and Haaland signs for Clash of Clans
News
May 3rd, 2024
Week in Views - Apple back themselves bigstyle, Clash bags Haaland and dreams come true at King
News
May 3rd, 2024
Week in Views - Apple back themselves bigstyle, Clash bags Haaland and dreams come true at King
News
May 3rd, 2024
Mobile Movers: All the latest appointments and job moves from around the industry
Events
GameDev Atlantic 2024 | May 4th | |
LA Games Conference 2024 | North America | May 6th |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Valencia Indie Summit 2024 | Europe | May 16th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
WN Conference Istanbul 2024 | Jun 11th | |
DevGAMM Vilnius 2024 | Europe | Jun 14th |