3rd Jul 2015 07:25
LONDON (Alliance News) - Phorm Corp Ltd Friday reported higher quarterly revenue and other key performance indicators in Russia, while it also reported on the start of commercial operations in the US.
Revenue attributed to Russia was RUB29.0 million in the second quarter of 2015, Phorm reported, almost double the RUB15.7 million in the first quarter.
"The growth in revenue is based on demonstrating the performance of the platform to the advertisers through a series of paid for test campaigns. Phorm is now working with six of the top tier global agencies in Russia. Phorm is also delighted to announce that, following these results, five of the agencies have agreed to begin integrating Phorm's platform into their trading desks, which is expected to significantly increase the number of campaigns to which Phorm has access," the company said.
Two of the agencies have already begun integration training, Phorm added.
Average daily unique user numbers grew to 35.5 million in the second quarter of 2015, up from 31.5 million in the first quarter. Advertising requests to which Phorm had access increased to 83.02 billion in the second quarter, more than double the 40.3 billion recorded in the first quarter. The number of advertisements served increased to 393.3 in the second quarter, up from 342.0 million in the first quarter.
"Phorm now has publishing deals in place with some of the largest players in the market and the company expects this to continue to grow over the coming months," the company said.
In the US, where Phorm began commercial operations earlier in 2015, no revenue figures were published.
Key performance indicators showed that Phorm had access to 42.4 million daily unique users on average in the second quarter.
It had access to 361.33 billion advertising requests in the US, which it said was four times more than in Russia and achieved in "significantly less" time. Total advertisements served reaching 65.9 million.
Phorm expects its pipeline of potential opportunities in the US to grow rapidly. It currently stands at more than USD0.5 million, the company said.
Phorm Corp shares were up by 0.62 pence at 2.50p on Friday morning, a 29% increase.
By Samuel Agini; [email protected]; @samuelagini
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