Highlights
in the third quarter of fiscal 2021 include:
- FY forecast revised 5.5%
upwards from 11.7 billion JPY to 12.3 billion JPY
- YoY revenue up 50% to
historical high of 3.2 billion JPY
- EBITDA margin turns positive
for full quarter for the first time in company history, up 16 percentage points
YoY
- Gross profit up 62% YoY
- Annual recurring revenue
(ARR) up 48% YoY
- Operating income margin
improvement of 14 percentage points YoY
- Quarter-on-quarter customer
growth of 7.7% with a historical high of newly added customers
New quarter, new record
TAIPEI,
TAIWAN - Media
OutReach - 11 November 2021 - Appier Group Inc (TSE: 4180), henceforth
referred to as Appier, today announced its Q3 earnings results for its third
quarter ended 30 September 2021. The period shows a continuation of the strong
post-IPO trajectory reported for Q2 in August. Revenue reached a record high of
3.2 billion yen, repeating the 50% year-on-year (YoY) increase seen in Q2
despite a much higher base in Q3 2020. Gross profit outpaced revenue growth to
increase by 62% YoY. This was due in part to a gross margin increase from 46%
to 50%, and in part to revenue growth acceleration. Demand from sectors such as
e-commerce for AI-enabled customer insights, and for tools to support
transformation from businesses in a wide range of industries, helped to fuel
growth.
Annual
recurring revenue (ARR) climbed 48% to 11.7 billion yen. Appier's earnings
before interest, taxes, depreciation and amortization (EBITDA) margin rose 16
percentage points to achieve profitability for the first time in Appier's
history with a two percent margin. Accelerated revenue growth was again a
driver, together with strong operating leverage. Operating income margin
improved 14 percentage points YoY. The results mean Appier has overachieved on
more than 10% of its business goals and is increasing its forecast from 11.7
billion yen to 12.3 billion yen.
"We
are extremely proud of our achievements this quarter, especially our 50% revenue growth on a much higher
comparative quarter," said Dr. Chih-Han Yu, Appier's CEO and co-founder. "Our
growth this quarter can be attributed to clarity of purpose and goals.
Supporting our customers on their AI-enabled digital transformation journey
continues to be a driving force for Appier. Our solutions have transformed
industry trends into a tailwind and accelerated our growth. We have
demonstrated that we help our customers comply with third party data
restrictions as well as achieve their business goals with superior AI
technologies. At Appier, our solutions mainly require first-party data and have
demonstrated its value to our customers, as reflected by this quarter's
results. This creates a sustainable business model for us to continue
supporting our customers' growth."
As
our relationships with customers grow, so does the impact of our services on
their business. Our momentum is also down to changing business needs, the
growth of data-led consumer experiences, the industry's move towards a
privacy-first landscape and the recognition that AI-powered digitalization will
be a key enabler of business success post-pandemic.
Adoption of AI solutions deepens
This
quarter's strong performance reflects the growth of the industry and the demand
for AI-powered digital transformation among our customers. This expansion of
relationships reflects Appier's commitment to customer growth and ethos of
growing in line with the businesses it serves.
The
rate of net new customers rose 7.7% quarter-on-quarter (QoQ), the highest
organic incremental increase yet, and 28.6% YoY. In terms of business sectors
driving growth, e-commerce continued to show strong demand, together with
businesses in more traditional areas undergoing transformation and looking to
strengthen their ability to connect with consumers in a digital-led
environment.
Customers
in Northeast Asia continued to account for the largest share of global revenue
at 64%, followed by Greater China (26%), Southeast Asia (7%) and other markets
(3%), mostly from the US. Having entered the US in Q4 2020, Appier is finding
traction in the market and expects business to grow steadily based on the
ongoing global demand for AI and in particular AI that is readily applicable to
business objectives.
Integration of services drives value
Last
quarter, Appier noted the importance of conversational commerce in business and
in its own future development. Since the acquisition of BotBonnie, an
omnichannel chatbot platform in May, Appier has integrated BotBonnie with its
AI solutions and has created cross-product synergies with AIQUA to unify
cross-channel structured behavior data and unstructured conversational data.
This means Appier is able to capture both web and conversational data to
deliver even more relevant and personalized messages to users, driving the
prospect of conversion, improving engagement and achieving greater campaign
results.
Appier's
solutions are designed to make it easy for companies to apply AI technology to
make precise, data-driven decisions, overcome business challenges and achieve
growth. AIXON, a first-party-data centric data science platform, is able to
unify fragmented data sets with advanced AI technology to build a holistic view
of the users across multiple first party data sources. Powered by the
scenario-based prediction with AutoML models, AIXON allows clients to
successfully unify their first party data from multiple sources, enrich their
understanding via AI inferences and predict their future behaviors through
AutoML in real time, from churn to conversions and even the likelihood of users
visiting a certain webpage or more unknown user affinities.
Appier
sees the combined effect of its network of services continuing to drive value.
As businesses place emphasis on achieving a complete view of their customers,
Appier's multiple, complementary solutions become increasingly important in the
new normal.
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