$AATV Adaptive Ad Systems Releases Annual Report for 2021 Reports Another Record Profitable Year
https://www.accesswire.com/695180/adaptive-ad...table-year
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 $5,640,267 in sales for the year ending December 30, 2021, was lower than the sales for the same period in 2020, as expected, Adaptive was still able to generate a net profit of approximately $860,000. The Company also was able to increase its cash position by approximately $1.9 million to a total of $6,318,153, while total assets increased by approximately $860,000, with assets surpassing its liabilities by $13,716,853.
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.
https://www.accesswire.com/695180/adaptive-ad...table-year
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 $5,640,267 in sales for the year ending December 30, 2021, was lower than the sales for the same period in 2020, as expected, Adaptive was still able to generate a net profit of approximately $860,000. The Company also was able to increase its cash position by approximately $1.9 million to a total of $6,318,153, while total assets increased by approximately $860,000, with assets surpassing its liabilities by $13,716,853.
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.
