Business
Adaptive Ad Systems Provides Financial Results for Q3 2021
Adaptive Ad Systems Provides Financial Results for Q3 2021.
About this update from Adaptive Ad Systems, Inc.
[{"type":"text","content":"Another Profitable Quarter Despite Non-Election YearVANCOUVER, WA / ACCESSWIRE / November 18, 2021 / Adaptive Ad Systems, Inc. (OTC PINK:AATV) has released the Company's quarterly report for the period ending on September 30, 2021. It is the 26th profitable quarter over the past seven years for the Company. Adaptive provides Dynamic Digital Ad Insertion (DDAI) via its streaming media hardware and proprietary processing software for all U.S. cable T.V. markets, with a particular focus on underserved rural markets and High Speed Fixed Wireless Internet Service (WISP) via its network of Hybrid Access Points and Micro POPs.The Company reports that despite the continuing disruption of nationwide business in nearly every industry because of the COVID 19 pandemic and the fact that the Company typically experiences lower ad revenue during non-election years, it was able to continue deployment of the contracted ad insertions throughout its growing cable television network. Thus, the Company reports that it generated sufficient revenue generating another profitable quarter.Most television advertising operations in the U.S. were negatively affected by the unprecedented impact of the Pandemic and the typically reduced advertising revenue during this non-election year 2021. Accordingly, Adaptive's $1,402,101 in sales for the three months ending September 30, 2021, was lower than the $3,519,410 in sales for the same period in 2020. Even so, Adaptive was still able to generate a net profit of $131,088 and improved its cash position to $6,225,508, while assets increased to $16,112,087. Furthermore, compared to the off-election year of 2019, Adaptive's revenue for nine months ending September 30 was up $215,629, or about 43%, and three-month revenue was up by a factor of over sixteen times.CEO J. Michael Heil states: "We continued installing our proprietary digital ad insertion systems, tested our new broadband technologies in beta markets, acquired a television station in Reno, Nevada, and continued expansion of our footprint in the underserved rural areas of the U.S. We will continue on this path of aggressive expansion into targeted markets that our systems and technologies were built for and will provide valuable and affordable digital advertising and broadband services for these markets. Additionally, with the passage of the new bi-par...