Adaptive Ad Systems Releases Annual Report for 2021 Reports Another Record Profitable Year
Adaptive Ad Systems, Inc. (OTC PINK:AATV) has released its annual report for 2021, showing a second-largest revenue for a non-presidential election year at $5,640,267. Despite market challenges, the company generated a net profit of $859,237, marking its eighth consecutive profitable year. With a cash position of $6,318,153 and total assets of $16,426,488, Adaptive expanded its operations, focusing on underserved markets. The CEO anticipates further revenue growth in 2022 with new technology developments on the horizon.
- Generated a net profit of $859,237, maintaining profitability for eight consecutive years.
- Increased cash reserves by approximately $1.9 million to $6,318,153.
- Total assets rose to $16,426,488, surpassing liabilities by $13,716,853.
- Continued expansion into underserved markets for digital advertising and broadband services.
- Revenue of $5,640,267 was lower than the previous year, reflecting expected declines post-election.
VANCOUVER, WA / ACCESSWIRE / March 30, 2022 / Adaptive Ad Systems, Inc. (OTC PINK:AATV) has released the Company's annual report for the period ending on December 31, 2021, reporting yet another profitable year. Adaptive provides Dynamic Digital Ad Insertion (DDAI) via its streaming media hardware and proprietary processing software for all U.S. cable T.V. markets, with a particular focus on underserved rural markets and High Speed Fixed Wireless Internet Service (WISP) via its network of Hybrid Access Points and Micro POPs.
The Company's 2021 gross revenue is the second-largest amount for any non-presidential election year and the third largest for any year since 2014. Despite nearly every industry sector experiencing a decrease in revenue due to the Pandemic, during 2021, Adaptive was able to continue the expansion of ad insertions on its proprietary platforms throughout its cable television networks and WISP services. Thus, the Company can again report sufficient revenue for 2021 to produce another profitable year for the eighth year in a row.
More specifically, many television advertising operations in the U.S. were negatively affected by the unprecedented impact of the Pandemic during 2021. Add to this that the Company typically experiences reduced advertising revenue during non-election years, especially directly following a national election year, such as 2020. Accordingly, though Adaptive's
- Revenue
$5,640,267 - Net Profit
$859,237 - Cash
$6,318,153 - Assets
$16,426,488
The continued profitability resulted in a significant cash position, allowed the Company to install additional proprietary digital ad insertion systems, acquire a television station in Reno, Nevada and accelerate its innovative technology development. With its focus on providing valuable and affordable digital advertising and broadband services for underserved U.S. markets, the Company consistently expands its footprint in the U.S. cable T.V. markets, establishing a solid business basis for launching its new technology.
CEO J. Michael Heil states: "2021 was a solid year for revenue and profitability. Our focus on underserved Tier 2 and Tier 3 markets in the U.S. has provided us with a constantly expanding customer base, and we anticipate that demand for our services will continue to increase. The upcoming launch of our new technology that is currently being developed will capture an important new segment of the constantly evolving digital T.V. ad sector. We expect this new market segment to increase our revenues, further developing a more balanced performance in future years. Revenues during the first three months of 2022 are on track to further improve our financial performance with the expectation of a stellar 2022.
ABOUT ADAPTIVE
Adaptive Ad Systems Inc. is a digital media and video communications company. Together with its subsidiaries and manufacturing suppliers, the Company provides Dynamic Digital Ad Insertion (DDAI) services and develops and deploys streaming media hardware and proprietary processing software for the Cable T.V., Satellite, IPTV markets. Via its subsidiary Adaptive Broadband (ABB), the Company provides High Speed Fixed Wireless Internet Service (WISP) to residences and small offices via a network of Hybrid Access Points and Micro POPs. The Company's DDAI and WISP services target the often-over-looked 2nd and 3rd Tier cable T.V. and rural WIFI markets and now also Tier 1 markets across the U.S. Adaptive's proprietary software and hardware, installed in scores of cable television systems across the United States, creating a "network" of linked cable tv system. This allows advertisers to purchase ads across the nationwide Adaptive network, generating significantly more ad impressions than traditional ad insertion technologies in individual systems. Adaptive Ad Systems has established an innovative revenue share agreement with each cable tv system and manages all ad-related activities. Currently, the Company serves over seventy-five designated marketing areas in over forty states. The Company's Adaptive Broadband network system provides services. For additional information, please visit: www.aatv.co.
FORWARD-LOOKING STATEMENTS
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, services, licensing arrangements, joint ventures, partnerships, or acquisitions. Such forward-looking statements are not meant to predict or guarantee actual results or performance, which may differ considerably. Factors that may cause actual results to differ materially from any projections may include, without limitation, delays in the Company's development of its products and services, the inability to obtain requisite financing, the impact of significant new or changing government regulations on the industry, existing or increased competition, results of arbitration or litigation, stock volatility and illiquidity, and possible general failure to implement the Company's business plans or strategies effectively. 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. | StockWatchIndex |
SOURCE: Adaptive Ad Systems, Inc.
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