XLMedia 2015 revenues soar 76%
Digital marketing firm reports double-digit growth across its publishing, media and partner network businesses
XLMedia today reported a 76% year-on-year increase in 2015 revenues following double-digit growth across the egaming marketing firm’s three core business segments.
Total revenues stood at US$89.2m (?62m) for the 12 months ended 31 December 2015, up from $50.7m (?35.2m) in 2014, thanks to a year of organic growth and bolt-on acquisitions.
Revenues from XLMedia’s publishing business increased 26% year-on-year to $30.3m (?21.1m) after increased investment in its technology infrastructure, while partner network revenues grew 115% to $13.1m (?9.1m) and media revenues were up 122% to $45.8m (?31.8m).
The growth in revenues across the group led to the AIM-listed firm also reporting adjusted EBITDA of $28.4m (?17m), a 67% year-on-year increase compared to the previous year.
“During 2015 we continued to invest in our technology, systems and people which are the key drivers for performance and future growth,” Ory Weihs, XLMedia chief executive, said.
“We also made significant progress regarding acquisitions, and successfully diversified our business further,” Weihs continued.
The company completed a number of acquisitions last year including the June purchase of a majority stake in web and mobile marketing company Marmar Media in a deal worth up to $7.36m (?4.72m).
The following month the firm bought a series of UK-facing mobile websites, while in September it acquired social and mobile gaming marketing firm ExciteAd Digital Marketing (EDM) for $19m.
XLMedia is currently in the process of undergoing a strategic review of the business, including a potential sale or additional acquisition in an effort to boost shareholder value.