AI marketing expert Albert Technologies sees slower than expected revenue growth in year to date

Maria Nikolova

Revenue growth in the year to date has been slower than anticipated, mainly due to longer ramp up time with the Enterprise clients.

Albert Technologies Ltd (LON:ALB) has earlier today provided an update on trading for the first four months of the current financial year and on the expectations of the Company’s management for the year as a whole.

As previously reported, the company has marked progress in 2018 in successfully deploying Albert – its autonomous cross-channel AI marketing platform, with some of the world’s leading brands and agencies, which makes the management confident in the potential of the current client base, as well as the pipeline of opportunities.

Since the start of the year, a number of our existing Enterprise clients have continued to expand their activity with Albert Technologies, whilst others are in active discussions with the company regarding expanding their activity in the coming months.

In terms of actual performance, revenue growth in the year to date has been slower than anticipated, principally as a result of longer ramp up time with the Enterprise clients, such that revenues are similar to those for the first four months of 2018. The company’s management expects growth to pick up in the coming months based on their assessment of the existing client base and the sales pipeline.

Given the performance for the start of the year, and the fact that as previously stated Enterprise clients’ sales, onboarding and expansion of activity, takes longer than for the previous roster of midsize and small businesses, management anticipates that revenues for 2019 are unlikely to reach current market expectations, which forecast revenue to more than double over 2018. Whereas the Company’s management expects that the outcome for 2019 should show significant improvement over the performance achieved in 2018, it remains difficult to accurately predict short term revenue outcomes.

In March this year, Albert Technologies reported 2018 financial results in line with its budget expectations. Revenues increased to $4.6 million, marking an almost threefold increase on the $1.7 million achieved in 2017. The company also saw a 50% increase in average monthly revenue per customer, year on year. On the downside, the company posted an adjusted EBITDA loss of $12.2 million, as well as an operating loss of $12.7 million.

At the end of 2018, net cash was $15.4 million (2017: $11.1m), following successful fundraise of $16.8 million, net, in June 2018.

Read this next

blockdag

Influencer Examines BlockDAG Advances as Presale Hits $27.7M Amid Updates on Solana Transaction Fees and Injective (INJ) Price

Discover what famous YouTube influencer CryptoDexWorld has to say about BlockDAG’s presale performance and mining capabilities. More on Solana Transaction Fees and Injective (INJ) Price Updates.

blockdag

Discover the Best Altcoins to Buy: Exploring Near Protocol, Cardano, and BlockDAG’s 30,000x Potential

Explore top altcoins like Near Protocol, and Cardano, and discover BlockDAG’s massive potential. Join us!

blockdag

Crypto Influencer Crypto Rick Endorses BlockDAG Amid $27.7M Presale Success; TRON Price & BCH See Surge

Crypto Rick endorses BlockDAG, boosting its $27.7M presale amid TRON and Bitcoin Cash surges. Explore why BlockDAG is a top crypto investment.

blockdag

These Altcoins Have The Potential To Make You a Millionaire in 2024

The crypto market is witnessing a surge, and certain alternate coins are catching attention for their rapid growth.

Digital Assets

Point72 invests $77.5 million in Bitcoin, Morgan Stanley holds $269.9 million

Point72, the $34 billion hedge fund owned by billionaire and New York Mets owner Steven Cohen, held $77.5 million in the Fidelity Wise Origin Bitcoin Fund (FBTC) at the end of the first quarter, according to a recent filing.

Digital Assets

Binance claims Nigerian officials sought $150 million bribe

A Nigerian court has ruled that Tigran Gambaryan, a Binance executive detained on charges of tax evasion and money laundering, can stand trial on behalf of the world’s largest cryptocurrency exchange.

Digital Assets

Kraken reviews Tether listing in Europe ahead of MiCA adoption

Cryptocurrency exchange Kraken is “actively reviewing” whether to delist the stablecoin Tether (USDT) from its European platform, according to a report by Bloomberg.

blockdag

Discover How MoonBag Coin Presale Stacks Up Against Dogecoin & Litecoin

Discover how the MoonBag Coin presale compares to Dogecoin and Litecoin, with unique features, a robust presale structure, and new opportunities in 2024.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Policy, USD, May 17 ,2024

Overall, both the Federal Reserve’s policy and the US dollar’s outlook are shrouded in some degree of uncertainty.

<