Campaign Performance Platform License Revenue up 32% in Q1 2024 on AI Adoption
AiAdvertising, Inc. (OTC: AIAD) reported strong customer adoption of its AI-powered advertising tools for Q1 2024.
Q1 2024 Highlights
- Q1 revenue: $2.0 million, down from $2.2 million in Q1 2023.
- Gross profit margin: 11.1%, down from 23.9% the previous year.
- Platform License revenues climbed 32% to $147,849.
- Creative Services revenue rose 75.6% to $0.5 million.
- Digital Marketing revenue dropped 21.2% to $1.4 million.
- Net Loss: $1.9 million, compared to a $0.9 million loss in 2023.
- Strong customer retention at 94% year-over-year as of March 31, 2024.
- Expected revenue for the first half of 2024: $4.1 – $4.3 million; FY 2024 revenue estimated at $9 – $10 million.
Management Comments
“We saw strong growth in our Campaign Performance Platform, and we believe our creative services set our clients apart in the market,” said Jerry Hug, CEO. “We expect continued AI adoption as we scale our offerings.”
Financial Overview
Revenue for Q1 2024 was $2.0 million, down 7% from last year. The decline resulted mainly from reduced client activity in Digital Marketing.
Operating expenses rose to $2.1 million from $1.4 million last year. Cash used in operations was $1.4 million, up from $0.6 million a year ago.
About AiAdvertising
AiAdvertising specializes in AI-driven marketing solutions, helping brands reach their ideal customers through personalized campaigns.
Contact Information
Investor Contact: Larry Holub/Chris Tyson
Phone: 312-261-6412
Email: AIAD@mzgroup.us
Website: www.mzgroup.us
Source: AiAdvertising, Inc.
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