Overview of Adslot's half-year financial report

Adslot Ltd (ASX: $ADS) and its controlled entities have submitted their half-year financial report for the period ending 31 December 2023. The report includes a review by Grant Thornton Audit Pty Ltd and a declaration by the directors. The report does not include full disclosures typically found in an Annual Financial Report and should be read in conjunction with the Annual Financial Report for the year ended 30 June 2023.

Directors' review of operations and financial performance

The Group's results for the six months to 31 December 2023, compared to the corresponding period in 2022, show a decrease in revenue from Trading Technology and Services related revenues. However, the Trading on the Adslot Media platform experienced substantial growth in the first half of the 2024 financial year. The Group also received the 2023 financial year R&D claim amount in full. The report also highlights a reduction in salaries, employment costs, and total operating costs compared to the prior corresponding period.

Outlook and future developments

Adslot's primary focus for the remainder of the 2024 financial year and beyond is on growing trading fee revenues via the Adslot Media platform. The Group anticipates growth in trading activity from existing clients and the activation of already contracted clients. Additionally, the Group expects trading activity to grow in the US market through its recently announced subsidiary, Bridge, Inc. The report also emphasizes the Group's careful cost management to maintain an efficient cost base. The Directors do not recommend the declaration of a dividend for the half-year. The report concludes with the Auditor's Independence Declaration and the Directors' Declaration, both signed on 29 February 2024.