| Headline: | Linkfire “LINKFI” Expects to be Profitable in 2023 |
| Location: | SE |
| Post Date: | Oct 21, 2022 6:32 PM |
| TAG ID: | awire091185 |
| DocID: | 684731 |
| Word Count: | approx. 540 words |
| Full story: | |
| COPENHAGEN, DENMARK / ACCESSWIRE / January 20, 2022 / Linkfire (STO:LINKFI) Linkfire A/S, the world's leading SaaS marketing platform for music and entertainment, expects EBITDA profitability for the full year 2023, while performing on previously disclosed mid-term financial targets. The projection follows a number of product optimization measures that have improved traffic monetization in Q3, as well as expectations of a sustained strong growth trajectory. The projection does not entail any changes to Linkfire's previously disclosed mid-term financial targets. With revenue growth being a core priority for Linkfire, profitability has not been an active pursuit in 2021. Following the company's strong development, improved traffic monetization, and expectations of a sustained growth trajectory, Linkfire expects to achieve sustainable growth with EBITDA profitability for the full year 2023. "We have seen a very promising development in both our business and in our markets. Traffic continues to grow as the output of new music and content in our markets sustains a high level. At the same time, we have achieved improvements in traffic monetization, measured in RPM. RPM increased by 165 percent by the end of Q3 2021 and commission revenues grew by 113 percent, compared to the previous year. This is a statement of our one-to-many scaling abilities utilizing our market position and a promising outlook for the deployment of the newly raised capital", Linkfire's CEO and co-founder Lars Ettrup says. Continuous optimization and development of new offerings for the music and entertainment industry alongside industry partnerships, are key drivers in Linkfire's growth. Since the listing on Nasdaq First North Premier Growth Market in June 2021, the ambition has been and still is, to hire top talent to support the underlying commercial drivers. The effects of these investments have revealed their potential already in Q3 2021. Initiatives in product optimization led to higher conversion rates as the main driver which yielded a significant lift in the RPM, +53 percent compared to the previous quarter, Q2 2021. A clear signal of the company gaining return on its continued investments in product optimization, which can lead to further monetization improvements and growth. These improvements come at a high gross margin and are scalable as Linkfire utilizes its own data and traffic to continue to optimize. For further information, please contact: Lars Ettrup, CEO, Linkfire A/S Telephone: +45 26 88 99 53 E-mail: [email protected] About Linkfire A/S Linkfire is the world's leading SaaS marketing platform for the music and entertainment industries. Linkfire's offering consists of two solutions: the Linkfire SaaS Marketing Platform for labels and artists and the Linkfire Discovery Network connecting consumers to music products through apps and partner websites. Linkfire's platform has over 85,000 users, including the vast majority of the top 100 Billboard artists and largest record labels. In 2020, 1.5 billion consumers were connected through Linkfire and the Company's revenue amounted to DKK 24.7 million, corresponding to a year-on-year growth of 43 percent. Linkfire has more than 80 employees and is headquartered in Copenhagen, with additional offices in New York, Los Angeles, Lisbon and Accra. Linkfire ("LINKFI") is listed on Nasdaq First North Premier Growth Market, Sweden. For further information, please visit: https://investors.linkfire.com/ Certified Adviser Aktieinvest Telephone: +46 739 49 62 50 E-mail: [email protected] Attachments Linkfire "LINKFI" expects to be profitable in 2023 SOURCE: Linkfire View source version on accesswire.com: https://www.accesswire.com/684731/Linkfire-LINKFI-Expects-to-be-Profitable-in-2023 |
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