Everyone’s an AI company now.
Sometimes I feel like CentralNic (AIM: CNIC) releases its earnings the same way I was taught to write an essay in school: first, explain what you’re going to write. Then write it. Then explain what you just wrote.
CentralNic first provides a “Trading Update” with its financials. Then it releases unaudited statements. Then it issues the final, audited statements.
Yesterday, CentralNic did the second party by releasing its unaudited results for last year. They are in line with the rounded numbers provided last month: revenue up 77% to $728.2 million, organic growth up 60%, new revenue up 50%, and adjusted EBITDA up 86%.
Oh, and CentralNic is now an AI company. Its release says it’s a “global internet company that derives recurring revenue from privacy-safe, AI based customer journeys…” This is updated from the description it used in December that it’s a “global internet software company that derives recurring revenue from marketplaces for Online Presence and Online Marketing services.”
On the advertising revenue side, the company said visitor sessions on its ad properties increased by 77% to 4.6 billion. RPM for ads increased 37% to $105.00. (Keep in mind that companies that undertake arbitrage can grow their RPM greater than most people by targeting high-paying topics.)
CentralNic’s long time CEO Ben Crawford left at the end of last year. It will be interesting to if the company heads in a different direction.