Adaptive Ad Systems Releases Annual Report for 2021 Reports The Company's 2021 gross revenue is the second-largest amount for any non-presidential election year and the third largest for any year since 2014. Despite nearly every industry sector experiencing a decrease in revenue due to the Pandemic, during 2021, Adaptive was able to continue the expansion of ad insertions on its proprietary platforms throughout its cable television networks and WISP services. Thus, the Company can again report sufficient revenue for 2021 to produce another profitable year for the eighth year in a row.
More specifically, many television advertising operations in the U.S. were negatively affected by the unprecedented impact of the Pandemic during 2021. Add to this that the Company typically experiences reduced advertising revenue during non-election years, especially directly following a national election year, such as 2020. Accordingly, though Adaptive's $5,640,267 in sales for the year ending December 30, 2021, was lower than the sales for the same period in 2020, as expected, Adaptive was still able to generate a net profit of approximately $860,000. The Company also was able to increase its cash position by approximately $1.9 million to a total of $6,318,153, while total assets increased by approximately $860,000, with assets surpassing its liabilities by $13,716,853.
- Revenue $5,640,267
- Net Profit $859,237
- Cash $6,318,153
- Assets $16,426,488
The continued profitability resulted in a significant cash position, allowed the Company to install additional proprietary digital ad insertion systems, acquire a television station in Reno, Nevada and accelerate its innovative technology development. With its focus on providing valuable and affordable digital advertising and broadband services for underserved U.S. markets, the Company consistently expands its footprint in the U.S. cable T.V. markets, establishing a solid business basis for launching its new technology.
CEO J. Michael Heil states: "2021 was a solid year for revenue and profitability. Our focus on underserved Tier 2 and Tier 3 markets in the U.S. has provided us with a constantly expanding customer base, and we anticipate that demand for our services will continue to increase. The upcoming launch of our new technology that is currently being developed will capture an important new segment of the constantly evolving digital T.V. ad sector. We expect this new market segment to increase our revenues, further developing a more balanced performance in future years. Revenues during the first three months of 2022 are on track to further improve our financial performance with the expectation of a stellar 2022.
https://www.accesswire.com/695180/adaptive-ad-systems-releases-annual-report-for-2021-reports-another-record-profitable-year