TIDMALB
RNS Number : 2948A
Albert Technologies Ltd
28 May 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF
THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN
28 May 2019
Albert Technologies Ltd.
("Albert Technologies", the "Company" or the "Group")
Update on Trading
Albert Technologies (AIM: ALB.L) today provides an update on
trading for the first four months of the current financial year and
on the expectations of the Company's management for the year as a
whole.
As previously reported the Company made significant progress in
2018 in successfully deploying Albert with some of the world's
leading brands and agencies, and management is highly encouraged by
the potential of our current client base, as well as the pipeline
of opportunities.
Since the start of the year, a number of our existing Enterprise
clients have continued to expand their activity with us, whilst
others are in active discussions with us regarding expanding their
activity in the coming months.
In addition, we started 2019 with a dozen additional Enterprise
clients in the pipeline and we expect to commence activity with the
majority of these potential clients by the end of the current year.
The Company's management believes that each of these potential
Enterprise clients carry significant revenue growth potential.
On the Agency front, in addition to our existing relationships
with 3 of the top global agencies, which are expected to yield
increased activity in the coming year, we expect to add some
mid-sized agencies to our client portfolio in the near-term, as
well as to continue and develop new trading relationships with
other global agencies.
As for actual performance, revenue growth in the year to date
has been slower than anticipated, principally as a result of longer
ramp up time with the Enterprise clients, such that revenues are
similar to those for the first four months of 2018. The Company's
management expects growth to pick up in the coming months based on
their assessment of the existing client base and the sales
pipeline.
Taking into account the performance for the start of the year,
and the fact that as previously stated Enterprise clients' sales,
onboarding and expansion of activity, takes longer than for our
previous roster of midsize and small businesses, management
anticipates that revenues for 2019 are unlikely to reach current
market expectations, which forecast revenue to more than double
over 2018. Whilst the Company's management expects that the outcome
for 2019 should show significant improvement over the performance
achieved in 2018, it remains difficult to accurately predict short
term revenue outcomes.
The Company maintains strict cash control and we have taken
active steps to reduce our cost base and will continue to do so in
order to align the Company's cost base with its current growth pace
and to preserve cash.
The Company's management is focused on delivering shareholder
value and reiterates its confidence about the longer-term market
opportunity for Albert and the Company's continued prospects.
For further information, please contact:
Albert Technologies Ltd
Tel: +972 3537 7137
Or Shani, Chief Executive Officer
Yoram Freund, Chief Financial Officer
https://albert.ai/
Cantor Fitzgerald Europe (Nominated Adviser
and Broker)
Philip Davies Corporate Finance
William Goode
Caspar Shand-Kydd Equity sales
Arthur Gordon +44 (0)20 7894 7000
This announcement has been released by Yoram Freund, CFO, on
behalf of the Company.
About Albert Technologies Ltd.
Founded in 2010, Albert Technologies Ltd. (AIM: ALB.L), a global
software company, is the creator of Albert - the first-ever fully
autonomous cross-channel artificial intelligence marketing
platform. Albert is a cloud-based artificial intelligence platform
that plugs into a digital marketer's existing tech stack and
operates it. An intelligent collection of over 200 different
skills, Albert is the self-learning digital marketing ally for
marketers: a thinker, a doer, and a support system; automating,
orchestrating and evolving campaigns. Always aware of the entire
landscape, Albert analyses the previously unanalysable, taking
purposeful action and flexibly optimizing against business goals.
The result: better allocation of budget against channels, audiences
and tactics in search, social and programmatic channels. Brands
such as The Big Red Group and Dole Asia, and global advertising
agencies, credit Albert with significantly increased sales, an
accelerated path to revenue, the ability to make more informed
investment decisions, and reduce operational costs.
About Albert
Albert is integrated with Google's search and programmatic
channels, as well as Facebook, Instagram, YouTube and Bing,
delivering access to 90% of biddable inventory that drives the
market.
Unlike AI technology that makes recommendations but leaves
taking action up to humans, Albert is the world's first autonomous
AI for digital marketers. Albert takes action on behalf of
marketers, making adjustments and improvements every moment of
every day without delay. Albert enables true agile cross channel
management: the typical approach of setting channel budgets up
front based on past performance and optimizing towards
channel-specific metrics as proxies for business outcomes is an
inexact science. Albert manages budgets flexibly in response to
market conditions and autonomously optimizes against the business
goal brands set, resulting in better allocation of budget against
channels, audiences, tactics - all within the guardrails
specified.
For example, in search campaigns, Albert continuously adjusts
bids on audiences / schedule / devices / ads according to real-time
data while shifting budget according to performance / engagement to
ensure ads get in front of the right customers - all while avoiding
over-bidding. In paid social, Albert gets detailed, machine-level
reporting on how interests perform and uses that to optimize
audiences, ad sets and lookalikes. This is an approach only an
autonomous AI can do. In programmatic, Albert leverages real-time
engagement of display, cross-channel learning, and smart look-alike
modeling. In each channel Albert expands cautiously, spending
budget only after understanding what's working, without limiting
campaign reach by just eliminating sources.
In addition, everything Albert does happens in clients' Google
and Facebook accounts, so there is full transparency of cost and
actions.
Albert is designed to learn, evolve, and improve performance
over time, getting results for brands through a constant balancing
act between spend vs. performance vs. creative fatigue vs. organic
impact, retargeting vs. prospecting, branding vs. lower funnel
activity and cross-channel budget allocations. These complex
multivariate calculations deliver unprecedented impact for
marketers.
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END
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