AiAdvertising Reports Nine Months Ended September 30, 2024 Financial Results

AiAdvertising, Inc. (OTC: AIAD), a leader in AI-powered digital advertising solutions, has reported its financial results for the nine months ended September 30, 2024. The company's revenue grew by 12% to $6.6 million, driven by customer growth, increased onboarding fees, and higher use of its platform. Gross profit margin improved by 2.6% to 47.6%, reflecting higher gross margins associated with onboarding revenues and a reduction in headcount. Despite the improvements, the company maintained a net loss of $4.3 million.



The company's deferred revenues increased by $0.6 million to $1.1 million, primarily due to customer growth and increased onboarding fees. This growth reflects the company's success in securing high-value, long-term contracts and retaining customers. Additionally, AiAdvertising's expansion into new service areas, such as the six-figure targeting campaign for De-dollarize News and the appointment of Douglas Beck as CFO, has likely contributed to the rise in deferred revenues.



AiAdvertising's strategic shift towards platform license fees has significantly contributed to its revenue growth. In the nine months ended September 30, 2024, platform license revenues increased by 77% to $0.3 million, driven by management's focus on a hybrid model of lower platform fees to drive higher customer budget spend. This strategic shift also led to a 41% increase in digital marketing revenues, reaching $1.6 million. Consequently, the company's gross margin improved to 2.6% from the previous year, indicating that the platform license fee strategy has positively impacted both revenue growth and gross margin.



In conclusion, AiAdvertising's financial results for the nine months ended September 30, 2024, demonstrate the company's ability to drive revenue growth and improve gross margins through strategic initiatives and customer acquisition. The company's focus on securing high-value, long-term contracts and expanding into new service areas has contributed to the growth in deferred revenues and overall financial performance. As the company continues to execute on its strategic priorities, investors should monitor its progress and assess the potential impact of a national exchange uplisting on its future growth prospects.