Update: A strong end to a transformational year
Fiscal 2014 finished on a high note for SITO Mobile with quarterly revenues up 43% y-o-y and all divisions performing well. The re-financing announced in October leaves the group adequately funded during our forecast period, which we extend to 2016. The shares are trading at an EV/sales discount to ad-tech peers despite offering higher gross margins than many, being EBITDA positive and the option value that the patent strategy brings.SITO Mobile, through its location-based marketing platform, provides advertisement delivery, measurement and attribution services (Ad Placement) and consumer insights (Insights) to brands, advertising agencies, out-of-home advertisers, media companies and non-media companies that utilize consumer insights for decision-making purposes. The company's products and services include: Ad Placement, which delivers advertisements on behalf of its customers to audiences of existing and prospective consumers in a privacy compliant manner; and Insights, which allow marketers and executive decision makers to understand the movement and behavior of their audience of existing and prospective consumer.
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