Vancouver, Wash. March 24, 2021. Adaptive Ad Systems, Inc. (OTC:AATV) today announces its financial results for the full year 2020, presenting record-breaking year-over-year revenue and profit growth with revenue for 2020 increasing to over $11.8 million or approximately 170%, compared to 2019 and a pre-tax Net Profit of $6.122 million, an increase of approximately 2300%.
Adaptive together with its subsidiary companies develops and deploys Dynamic Digital Ad Insertion (DDAI) services via its streaming media hardware and proprietary processing AI software for all U.S. cable TV markets, and provides High Speed Fixed Wireless Internet Service (WISP) via its network of Hybrid Access Points and Micro POPs.
The following is a summary of the financial results for the year 2020, as compared to the year 2019.
- Revenues rose to $11.85 million from $4.377 million in 2019, an increase of approximately 170%
- Net Profit before taxes rose to $6.122 million from about $255,000 in 2019, an increase of approximately 2300%
- Total Assets increased to $15.566 million from $8.565 million in 2019, an increase of approximately 81.2%
- Stockholder Equity increased to $12.608 million from $7.448 million in 2019, an increase of approximately 69.3%
- Retained Earnings rose to $7.558 million from $2.721 to million in 2019, or 177%
- Earnings per share rose to $.10 from about $.005, or about 2300%
- Approximately 49.7 million shares are currently issued and outstanding
Michael Heil, Chairman & CEO of Adaptive states: “It is not easy to put a very turbulent 2020 into words. As we have consistently reported over the past year, our development and management teams have persisted throughout the pandemic and been successful in achieving substantial operational and financial milestones. Though, at times, prospective ad sales were unpredictable and troubling for the general cable TV advertising sector, we continued to focus on our chosen market segment that we have cultivated and served with our hardware and software for years – the underserved and neglected ad markets throughout the US. Having manifested our position as a dominant company in this sector in 2020, we have shattered all of our performance records over the last few years and created an ever-stronger foundation for future development and expansion. In subsequent releases we intend to elaborate on what these results mean for the Company’s future.”
THE ADAPTIVE SYSTEM
Adaptive allows advertisers across the US to purchase ads that are inserted into a linked group of the Adaptive digital TV advertising system. Adaptive Ad Systems manages all ad-related activities, provides all technical support, ad-sales, traffic, and billing. Adaptive has established an innovative revenue share agreement with each individual cable television system.
Adaptive Ad Systems Inc. is a digital media and video communications company that together with its subsidiary manufactures, develops and deploys dynamic digital ad insertion (DDAI) and video streaming media hardware and proprietary processing software for the Cable TV, Satellite TV, and IPTV markets , and High Speed Fixed Wireless Internet Service (WISP) via a network of Hybrid Access Points and Micro POPs. Adaptive’s primary focus is the 2nd and 3rd tier US markets. Adaptive exclusively sells all available advertising space in each market across multiple national cable television networks, while maintaining complete technology ownership. Adaptive has implemented a compelling profit-sharing model with its cable TV partners. The Company serves over 200 designated marketing areas in approximately 39 states. Adaptive also provides broadband and cable TV services in some niche markets. For additional information, please visit: www.adaptiveadsystems.com.
Any statements contained in this press release that do not describe historical facts constitute forward-looking statements. Forward-looking statements may include, without limitation, financial projections, statements regarding the plans and objectives of management for current and future operations, the development, regulatory approvals, and commercialization of the Company’s products, or any of the Company’s proposed services, systems, partnerships, or acquisitions. Such forward-looking statements are not meant to predict or guarantee actual results and performance and actual events or results may differ considerably. Factors that may cause actual results to differ materially from any projections may include, without limitation, the Company’s delays in the development of its products, the inability to obtain additional financing, the impact of significant new or changing government regulation on the industry, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company’s general failure to implement the Company’s business plans or strategies. The Company assumes no obligation to update any forward-looking statements to reflect any change in events or circumstances that may arise after the date of this release.
Adaptive Ad Systems, Inc.
4400 NE 77th Avenue, Suite 275
Vancouver, Washington 98662
San Diego, California