Business
Final Results
Final Results.
About this update from Digitalbox Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7178T\n Digitalbox PLC\n 29 March 2021\n \n \n \n \n --`3\n \n \n 29 March 2021\n \n \n \n \n \n Digitalbox plc\n \n \n (\"Digitalbox\" or the \"Group\")\n \n \n \n \n \n Final Audited Results for the year ended 31 December 2020\n \n \n \n \n \n Digitalbox plc, the mobile-first digital media business, which owns leading websites Entertainment Daily, The Daily Mash, and The Tab, is pleased to announce its final audited results for the year ended 31 December 2020.\n \n \n \n \n \n Financial Highlights[1]:\n \n \n · \n Revenue of £2.2m (2019: £2.2m)\n \n \n · \n Gross profit of £1.7m (2019: £1.8m)\n \n \n · \n Gross margin of 76% (2019: 82%)\n \n \n · \n Adjusted EBITDA[2] of £0.3m (2019: £0.5m)\n \n \n · \n Adjusted EBITDA margin of 13.9% (2019: 23.4%)\n \n \n · \n Adjusted EBITDA per share of 0.3p (2019: 0.7p)\n \n \n · \n Loss before tax of £143k (2019: loss of £460k)\n \n \n · \n Gross cash of £1.9m as at 31 December 2020 (31 December 2019: £0.5m) including £500k of Government-backed Covid loans[3]\n \n \n \n \n \n Operational Highlights:\n \n \n ·\n Encouraging progress across the portfolio despite challenging market conditions. Users[4] who visited Digitalbox's websites are up 76% to 67 million (2019: 38 million)\n \n \n ·\n Completed acquisition of The Tab in October 2020 - Q4 traffic up 42% year on year. \n \n \n ·\n Digitalbox's Graphene platform underpins The Tab's shift from operating loss to a positive contribution\n \n \n · \n 88% of users are via mobile devices in line with Group strategy of building a leading mobile-focused media business.\n \n \n ·\n After a difficult third quarter due to disruptive social media algorithm changes designed to counter COVID-19 disinformation, Group audience figures recovered to 12 million monthly users in December 2020, with more than 250 million ad impressions.\n \n \n ·\n In 2020, Entertainment Daily saw 112% growth in Google/Direct traffic, and The Daily Mash had 14% growth in visits per user. \n \n \n ·\n Former Chief Executive of TI Media, Marcus Rich appointed Non-executive Chairman in February 2021, post year-end.\n \n \n \n \n \n Outlook:\n \n \n · \n Acquisitions of \n The Daily Mash and The Tab have proved the potential of the Digitalbox operating model and its Graphene platform, giving continued...